High Grade Gold Assays Returned Within Menzies’ Lady Shenton System

Brightstar Resources Limited (ASX: BTR) (Brightstar) is pleased to announce initial assay results from the Reverse Circulation (RC) drilling program at the Menzies Gold project (Menzies), part of the large RC and diamond drilling (DD) program across the broader +1.45Moz Au Brightstar portfolio. The broader program is targeting gold mineralisation within delineated pit shells and underground designs outlined within Brightstar’s Scoping Studies^1,3 along with extensional drilling across the portfolio to grow the current JORC Mineral Resource Estimate.

HIGHLIGHTS

• Initial assays have been received for the Pericles and Stirling deposits RC drilling program, within the 287koz Au Lady Shenton System at the Menzies Gold Project
• The Pericles and Stirling deposits are adjacent to the historic Lady Shenton open pit, and target material within the Lady Shenton System open pit mine plan of 1.9Mt @ 1.6g/t Au for 100koz Au inside a A$2,750/oz optimised pit shell, as outlined in Brightstar’s 2023 Scoping Study¹
• The Menzies drilling program is part of the +30,000m drilling program², targeting resource upgrades & extensions across Brightstar’s 1.45Moz Au portfolio in the Eastern Goldfields
• Drilling intercepts returned at the Pericles and Lady Shenton deposits include:
  • LSRC24049
    • 5m at 15.62 g/t Au from 104m, including 1m at 45.76g/t Au from 104m, and
    • 2m at 10.96 g/t Au from 115m
  • LSRC24051
    • 2m at 22.32 g/t Au from 95m, including 1m at 42.28g/t Au from 95m
  • LSRC24053
    • 7m at 4.94g/t Au from 115m, including 1m @ 27.82g/t Au, and
    • 5m at 7.92g/t Au from 128m, including 1m at 28.48g/t Au from 128m
  • LSRC24068
    • 10m at 3.16g/t Au from 1m
  • LSRC24066:
    • 4m at 5.85 g/t Au from 13m
  • LSRC24062:
    • 4m at 4.51 g/t Au from 22m
• Shallow intercepts returned from drilling at the Stirling deposit include:
  • STRC24017:
    • 2m at 9.62 g/t Au from 4m, including 1m @ 16.50 g/t Au from 44m
  • STRC24014:
    • 3m at 2.73 g/t Au from 38m
  • STRC24009:
    • 6m at 1.88g/t Au from 16m and 1m at 4.10g/t Au from 29m
  • STRC24010:
    • 4m at 2.58 g/t Au from 63m, including 1m at 6.24g/t Au from 65m

These results are from the first phase of the RC drilling program at Menzies Gold Project (MGP), with the RC rig currently drilling at the Lord Byron deposit (part of the Jasper Hills project area) and the diamond rig presently at the Second Fortune Gold mine. Post completion of drilling within the Laverton Hub, the RC rig will return to Menzies to complete the outstanding holes and conduct exploration RC drilling in the area. The drilling at the MGP is focused largely on infill and extensional drilling at the Pericles, Stirling and Lady Shenton deposits (collectively, the Lady Shenton System) ahead of feasibility study workstreams in preparation for mining activities in CY2025.

Brightstar’s Managing Director, Alex Rovira, commented “These results from the Lady Shenton System highlight the immense potential that Menzies holds. With numerous high-grade hits in all three deposits at Pericles, Lady Shenton and Stirling indicating mineralisation is still open at depth, we look forward to completing the program once high priority drilling is completed at the Laverton Hub.

We’ve taken opportunity to bring on a third rig, with two RC rigs presently at Jasper Hills drilling out the Fish and Lord Byron deposits, whilst the diamond rig is maintaining good progress and accuracy with the ‘diamond tails’ being drilled at depth at the Second Fortune Mine. These programs will generate valuable information for our feasibility studies and ongoing mine plans, which will be utilised for geotechnical, metallurgical and mine planning purposes at our Menzies & Laverton Hubs”

Figure 1 – Lady Shenton location within broader Menzies Gold Project

Figure 2 - Lady Shenton system drilling program underway. Cross sections A-A’, B-B’ and C-C’ within insets are displayed in Figures 3, 4 and 5

TECHNICAL DISCUSSION

A total of 52 RC drill holes have been completed with assays returned at Menzies. These holes include 26 drill holes completed at the Pericles deposit (Figures 2, 3, 4 & 7), eight drill holes were completed at the Lady Shenton open pit ramp (Figure 2) and 18 holes completed at the Stirling deposit (Figures 2, 5 & 6).

Assay results and hole details for the drilling outlined above are detailed in Tables 1 - 4.

A further 36 RC holes are planned for future drilling in the coming weeks at Pericles (Figure 2) once the RC program at the Jasper Hills project concludes.

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