Brightstar Resources (ASX:BTR) has released a maiden Mineral Resource Estimate (MRE) of 1.37 million tonnes at 1.6 grams per tonne (g/t) gold for 70,000 ounces of gold for the Aspacia deposit in Western Australia.
The MRE — undertaken by privately held ABGM — has increased the Menzies Gold Project’s total resource by 20%.
Brightstar, which has a market capitalisation of $52.30 million, says the MRE was conducted based on over 110 reverse circulation and diamond drillholes, including recent programs.
Managing Director Alex Rovira says the previous drill results and the MRE output using a typical underground mining economic cut-off grade of 0.5 g/tgold suggests the company has potential to assess a modest-scale underground operation at Aspacia.
“Encouragingly, the Selkirk-First Hit-Leady 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 restart this quarter.”
The company notes that Prefeasibility Study work streams are underway for the Menzies and Laverton Gold projects, with drilling programs set to begin imminently across the company’s portfolio.
Drilling will focus on increasing the confidence of the resource and generating material for testwork purposes.
Brightstar reports that mineralisation remains open at depth and along strike.
The Aspacia deposit lies 1km west of the Menzies Gold Project in Western Australia.
Brightstar Resources is a Perth-based gold explorer and developer focused on its portfolio of projects in Western Australia.
Write to Aaliyah Rogan at Mining.com.au
Images: Brightstar Resources
