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Star Minerals Limited (ASX: SMS, “the Company” or “Star Minerals”) is pleased to provide its Quarterly Activities Report for the period ending 31 March 2023.
HIGHLIGHTS
Tumblegum South Gold Project
- High-grade gold results from Tumblegum Phase 3 diamond drilling released, including 2.1m @ 20.49g/t Au in hole BGDD002 from 26.7m downhole and 0.4m @ 41.5g/t Au in hole TDH004 from 62.7m downhole
- Refinement of geology model and preparation for updated Mineral Resource Estimate.
West Bryah Copper-Gold Project
- Public data analysis underway.
- Rock Chip results released, with results including a sample returning 35.85g/t in the Top Dimble region and another 3.31g/t in the West Dimble area.
The Company has two projects, a gold Resource at Tumblegum South, 40km south of Meekatharra and the West Bryah copper-gold project, 120km northwest of Meekatharra.
During the quarter, Star Minerals made further headway towards its goal of bringing its Tumblegum South gold project into production. Completion of a diamond drilling program at the end of last quarter has been followed up with the return of the assay results from this work, and the use of this new information further refining our interpretation and geology model.
In addition, the Company has received and analysed the results from its reconnaissance work involving soil sampling, mapping and ground magnetic survey work on the West Bryah tenements. Results of this work has been used to complete planning for further activity, with crews planned to be on-site during the next reporting period, for further geophysical work, sampling and an initial drill program.
CEO Greg Almond comments:
“Following the successful completion of our RC and Diamond drilling programs at Tumblegum South, we are encouraged by the results, and looking forward to the completion of our geology modelling and resource work.
Our exploration success at Tumblegum South and Star of the East confirms the value of these assets and validates our ever-improving knowledge of these projects. The work completed also provides a predictive model to unlock further value in our existing assets, new targets and properties.
We look forward to completing the resource model and progress Tumblegum South through to a PFS. Our diamond drilling leveraged our initial success with our two RC programs, and we are very happy that the assay results continue to support the existing model of the geology and grade”.
Figure 1 - Star of the East and Tumblegum South tenement location
Tumblegum South is located approximately 40km south of the town of Meekatharra in Western Australia (see Figure 1).
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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.
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