Brightstar Resources (ASX:BTR) has delivered a maiden Mineral Resource Estimate for the Link Zone prospect within its Menzies Gold Project in Western Australia.
The company says the resource sits at 21,000 ounces @ 1.1 grams per tonne (g/t) au from shallow, near-surface material within the prospect.
This MRE was undertaken by mining consultancy ABGM and was based on over 200 reverse circulation (RC) drillholes, including a recently completed program with gold intercepts returning 1m @ 13.95g/t Au and 4m @ 3.21g/t Au.
Brightstar, which has a market capitalisation of $24.90 million, says it has identified the Link Zone as having the potential for early-stage mining opportunities.
Following this completed MRE, Brightstar is planning to tackle further drilling programs to delineate ‘higher-grade’ areas along with resource growth areas using RC drilling.
The company also aims to accelerate the Link Zone deposit’s mining inventory, with the optionality to assess mining via a joint venture (JV) to generate short-term cashflow or add this material into the Menzies mine plan for future exploration.
Further, Prefeasibility Study work streams are currently underway for the Menzies and Laverton Gold projects. This work is expected to be completed in Q4 2023.
Brightstar Resources Managing Director Alex Rovira says this latest gold inventory increase provides ‘strong’ potential for future near-term mining scenarios.
“The Link Zone prospect is a near-surface opportunity with potential for strong economics given the shallow depth to mineralisation and favourable ore body geometry.
With the Prefeasibility work streams underway, RC drilling will be commencing this quarter at the Menzies Gold Project, focusing on infill/extensional drilling at Link Zone and at the high-grade Aspacia prospect, which represents significant potential to delineate a maiden high-grade mineral resource for inclusion in the PFS mine plan.”
“The Link Zone prospect is a near-surface opportunity with potential for strong economics given the shallow depth to mineralisation and favourable ore body geometry”
Brightstar Resources is a Perth-based gold explorer and developer focused on its assets in Australia.
As of 30 September 2023, the company had $1.7 million cash at hand, according to its latest quarterly report.
Write to Aaliyah Rogan at Mining.com.au
Images: Brightstar Resources