Brightstar Resources (ASX:BTR) has completed metallurgical reconciliation for the maiden processing campaign at Genesis Minerals’ (ASX:GMD) Laverton Mill in Western Australia.
Between 7 to 15 March, the campaign processed 56,449 tonnes of ore sourced from the Second Fortune Underground Mine and lower grade Lord Byron open pit stockpiles.
The reconciled blended head grade of 2.51 grams per tonne gold surpassed the initial blended estimate of more than 2g/t gold, with a recovery rate of 94.25%. As a result, 4,297 ounces of gold was produced.
Brightstar Resources, which has a market capitalisation of $216.71 million, says this outcome reinforces the company’s production growth ambitions and the value of its partnership with Genesis, delivering a robust start to the 2025-26 production program.
Haulage is continuing from the Second Fortune and Lord Byron mines to prepare a second processing parcel, which is scheduled for May.
Further, a Definitive Feasibility Study on the broader Laverton-Menzies development strategy is progressing. The DFS is expected to be delivered in the first half of this year, with the aim to further delineate Brightstar’s path to become a multi-mine gold producer.
Managing Director Alex Rovira says the results from parcel one highlights the value of the Laverton production hub and the operational ability of the mining teams to deliver gold production and cashflows to Brightstar.
“The reconciled blended head grade and high recovery rate exceeded our expectations, positioning Brightstar to capitalise on record AUD gold prices as we scale up our operations,” Rovira says.
“We’re building momentum towards sustained production growth and increased cashflows to fund the broader growth objectives across the company’s portfolio.”
In parallel with the mining and development activities, Brightstar has two exploration-focused reverse circulation drill rigs in the field at the Sandstone and Menzies project areas. The company aims to advance these projects through the development pipeline towards production.
Yesterday, the gold price soared past the $5,000 per ounce mark — setting another all-time Australian dollar high. According to Trading Economics, the precious metal is now up just shy of 18% in the first quarter of this year, on track for its largest quarterly gain in more than 38 years.
The price stood at $5,025 per ounce at 10.30am AEDT, according to the ABC Bullion.
Write to Aaliyah Rogan at Mining.com.au
Images: Brightstar Resources
