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Star Minerals Limited (ASX: SMS, “the Company” or “Star Minerals”) is pleased to advise that it has received the assay results from its diamond drilling campaign at the Tumblegum South gold project.
HIGHLIGHTS
- Gold mineralisation confirmed through assay results from Diamond drilling
- Results of the assay include:
- 2.1m @ 20.49g/t Au in hole BGDD002 from 26.7m downhole
including 0.94m @ 42.59g/t Au from 26.7m downhole - 0.4m @ 41.5g/t Au in hole TDH004 from 62.7m downhole
- 2.1m @ 20.49g/t Au in hole BGDD002 from 26.7m downhole
- Diamond drilling further confirms Star’s interpretation of geology
- Drilling was designed to reinforce previous RC Drilling
- Results prove potential of project and provides further data for Resource modelling
Drilled in two programs consisting of 3 holes for a total of 162m in 2020, then a further two holes in 2022 for a total of 354.8m (Total 5 holes for 516.8m). The first program was designed to provide structural and potential metallurgical information, while the second program was planned to pass through multiple modelled geological zones that were interpreted from the previous RC drilling programs.
Star Minerals’ CEO, Greg Almond comments:
“We are very satisfied to have completed this program and receive these impressive gold results. The assays provide further support to the already great results we have seen from our RC drilling programs.
The most recent assays and geological logging further confirms the Tumblegum South mineralisation model and provides encouragement for our future works to unlock the Resource and potential of this gold project.
This recent drilling shows continuity of the gold mineralisation which we will further interpret and incorporate into our model and anticipated future Resource update.”
Sample results are shown in Table 1 below. Results of significance include:
- 2.1m @ 20.49g/t Au in hole BGDD002 from 26.7m downhole
- 4.7m @ 2.3g/t Au in hole BGDD003 from 44.6m downhole
- 0.4m @ 41.5g/t Au in hole TDH004 from 62.7m downhole
- 6.4m @ 1.57g/t Au in hole TDH004 from 111.6m downhole
- 2.8 m @ 3.23g/t Au in hole TDH005 from 113.2m downhole
Figure 1 - PQ3 (83mm) drill core from BGDD002 (25.36m – 27.84m) which includes the high-grade interval of 0.94m @ 42.59g/t Au from 26.7m.
Once again leveraging from its commercial relationships, Star Minerals was able to quickly execute the planned drilling program during September1 2022, and after completion of core photography, logging and sampling activities submit its samples, with the final results returned in March 2023.
The diamond drilling program was planned to test the interpretation of the geology based on the previous exploration data that the Company has and served as a way to increase the confidence of the interpretation and modelling of this information. The success of the diamond drilling shows that the current data set is robust enough to use as a tool for a Resource update, which will then be used as an input for further scoping, engineering and environmental works.
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SMS:AU
Star Minerals: Rapidly Moving Towards Production in Western Australia
Star Minerals (ASX:SMS) advances projects in Western Australia, a region the Fraser Institute index has identified as a top mining jurisdiction for investment attractiveness, hosting some of the world’s most significant gold operations. The company owns three gold projects in Western Australia: its flagship project Tumblegum South, the West Bryah project and the recently acquired Star of the East project.
More than 66 gold mines operate throughout Australia, including 14 of the world’s most significant gold operations. Western Australia, where Star Minerals operates, accounts for nearly 70 percent of Australia’s total gold production.
Market analysts have indicated the global mined supply and physical demand for gold appears robust through year-end 2026. Mining projects in Western Australia are poised to capitalise on the state’s potential and benefit from the projected increase in demand.
Company Highlights
- Star Minerals is a gold and copper focused exploration and development mining company with three assets in Western Australia.
- Stage 3 resource-definition drilling has commenced at the company’s flagship project, Tumblegum South.
- The maiden mineral (inferred) resource estimate for the project totals 600,000 tonnes, at a grade of 2.2 g/t gold.
- Star Minerals owns two additional gold assets at varying stages of exploration moving towards development: West Bryah and Star of the East.
- The West Bryah project is a collaboration between Star Minerals and Bryah Resources, with both companies contributing to current exploration campaigns.
- The Star of the East project is a recent acquisition, and the company aims to generate JORC-compliant resource estimates quickly. Initial drilling is currently underway.
- The company is led by an experienced management team with expertise throughout the mining industry, creating confidence in the team’s ability to reach its goals.
This Star Minerals profile is part of a paid investor education campaign.*
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