Aspacia Deposit Records Maiden Mineral Resource at the Menzies Gold Project
Brightstar Resources Limited (ASX: BTR) (Brightstar) is pleased to announce a maiden Mineral Resource Estimate (MRE) at Aspacia, located approximately 1km west of Menzies town (MGP). This MRE was undertaken on over 110 RC and diamond holes including recent programs completed by Brightstar.
HIGHLIGHTS
- Maiden JORC2012 Mineral Resource Estimate (MRE) at Aspacia of 1.37Mt @ 1.6g/t Au for 70koz Au at a 0.5g/t Au cut-off grade
- Brightstar has increased the total Menzies MRE by ~20% since Brightstar ownership commenced in late May 2023
- Mineral Resource growth vindicates Brightstar’s strategy of identifying, drilling and delineating areas considered prospective to hold future potentially mineable ounces
- Within the Aspacia MRE, there is a high-grade subset of 290kt @ 3.72g/t Au for ~35koz using a 2.0g/t Au cut-off grade
- Mineralisation remains open at depth and along strike and will be tested further with upcoming drilling programs to grow and improve the confidence of the MRE
- Combined Brightstar MRE of 1.1Moz Au across the Menzies and Laverton Gold Projects, with an additional ~0.35Moz Au in resources to be added via a successful completion of the off-market takeover of Linden Gold Alliance1
- Pre-Feasibility Study work streams for the Menzies and Laverton Gold Projects are in progress, with significant drill programs commencing imminently across the Brightstar portfolio targeting resource confidence upgrades and material for testwork purposes.
Encouragingly, the Selkirk-First Hit-Lady Shenton trend seems to be distinct to that of the Aspacia deposit, which may lead to similar repetitions north and south of Aspacia and warrants further follow up exploration which we’ll target in our upcoming drilling programs set to re-commence this quarter.
The results from the previous drilling and the MRE output utilising a typical underground mining economic cut-off grade indicates to Brightstar that strong potential exists to assess a modest-scale underground operation at Aspacia given the grades and widths observed.
With the technical PFS work streams underway, RC and diamond drilling will shortly recommence at Brightstar’s projects and conduct large programs targeting conversion and upgrades to our current MREs proposed to be mined within our BTR 2023 Scoping Study, along with Linden Gold projects at Second Fortune and Jasper Hills”.
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