Brightstar Resources Limited (ASX: BTR) has successfully completed the +6,000m RC drilling programme at Cork Tree Well (CTW), located 30km north of Laverton in the prolific Laverton Gold Belt of Western Australia and has begun to receive assay results.
To date assays for 13 holes have been received, with 17 holes still remaining outstanding.
The recently completed infill and extensional RC drill programme was designed to identify mineralization outside of the current JORC Mineral Resource Estimate (MRE) in an endeavour to grow the MRE and increase the confidence category in sections of the model from Inferred to Indicated status.
“It is pleasing to see the successful completion of the 6,000m RC drilling program at CTW in March,” Managing Director, Alex Rovira, said.
“The programme was designed as extensional in nature to expand the currently delineated resource envelope, so the mineralized intercepts received encouragingly indicate that the mineralization is still open at depth and along strike where we have received assays to date.
“Once all assays have been received from the completed 2023 program, the results will be combined with the 33 hole, >5,000m RC drilling program completed in 2022 and will feed into an updated JORC Mineral Resource Estimate for CTW.
“This upgraded MRE will be included within mining studies currently underway and due for delivery mid-year.
As a reminder, some of the key intercepts previously reported from the 2022 programme include:
• 5m @9.46g/t Au from 103m and 4m @2.56g/t Au from 169m (BTRRC171)
• 11m @2.54g/t Au from 83m (BTRRC150)
• 7m @3.11g/t Au from 119m (BTRRC154)
• 12m @1.24g/t Au from 175m (BTRRC156)
Drill planning is underway for further follow up drilling at Cork Tree Well in 2023, targeting additional growth- focused RC drilling and will incorporate diamond drilling for metallurgical and geotechnical assessments.
The increased mineralized extent at CTW bodes well for further growth in the MRE that will be an important factor in assessing mining restart activities. A potential increase in the MRE at CTW, in combination with a successful completion of the merger with Kingwest Resources, targeted for completion in May will see Brightstar control a significant JORC Mineral Resource in the Laverton-Leonora District, and provide critical mass to advance the projects towards potential production scenarios in a strengthening gold price environment. The existing processing infrastructure at Brightstar has the potential to facilitate a low capital and fast-tracked restart for operations, subject to the necessary approvals and feasibility studies which are presently underway.”
Next Steps
Further assays will be reported to the market as they are received. These results will be utilized in the planning stages of the next drilling program at CTW, as to date the mineralization remains open and requires further drill testing to define the limits of the mineralization and attempt to continue to grow the MRE.
Final results will be incorporated into a new geological model forming the basis of an updated Mineral Resource Estimate and identifying areas for infill drilling. Future drill campaigns will also incorporate diamond holes to support metallurgical and geotechnical studies to progress the project towards potential mining operations.
For further information please visit: http://www.brightstarresources.com.au/
