Brightstar glimmering gold hit at Cork Tree Well

Brightstar Resources (ASX:BTR) has reported a ‘spectacular’ gold intercept in its latest round of assays from a diamond drilling program at its Cork Tree Well Project in Western Australia. 

The $28.4 million market capitalisation company has now reported the assays from the final 2 metallurgical diamond holes completed at the project, with the new results including a 27.6m hit @ 17.77 grams per tonne Au from 51 in hole CTWMET003. 

Further to this intercept, Brightstar says the ‘high-grade’ results from the drilling are substantiated by several observations of visible gold in both diamond holes, with ‘bonanza-grade’ assays of 1,028.37g/t Au. 

Brightstar’s 20-hole diamond program is now complete, and the company says metallurgical and geotechnical testwork is now underway to help feed into Pre-Feasibility Study (PFS) workstreams for Cork Tree Well. 

In tandem with this PFS work, the company plans to begin reverse circulation (RC) resource definition drilling at its Menzies Gold Project before the end of the March quarter. 

Brightstar Managing Director Alex Rovira says the latest diamond drilling results complement the previously announced ‘high-grade’ intersections from the 20-hole program, which included 34.4m @ 7.94g/t Au. 

“The drilling campaign represented the first diamond holes drilled at Cork Tree Well by Brightstar, with our understanding of the geology and mineralisation styles being strengthened by the knowledge being gained from this recently completed program. 

Today’s results continue to reinforce our view that the gold mineralisation at Cork Tree Well is structurally hosted, with a mafic metadolerite host rock observed in CTWMET003 whilst gold mineralisation returned in CTWMET001 is positioned within the sedimentary package underneath the historically mined shallow open pit.”

Rovira adds that based on the calibre of assays received from the diamond drilling to date, Brightstar continues to see ‘strong potential’ to build on the existing mineral resource at Cork Tree Well of 303,000 ounces @ 1.4g/t Au, both at depth and along-strike.

“The high-grade results returned to date are significantly higher than the current 1.4g/t Au head grade of the mineral resource and 1.85g/t mine grade from the 2023 Scoping Study, representing significant upside.”

Looking ahead, Brightstar says it will continue to analyse the ‘nuggety’ gold at Cork Tree Well, specifically within the Delta deposit, in its future drilling programs. 

The Cork Tree Well project lies within Western Australia’s Duketon Greenstone Belt, 30km north of Laverton.

Alongside Cork Tree Well and Menzies, Brightstar also owns the nearby Alpha and Beta gold projects. 

Brightstar had around $4.8 million cash at hand as of 31 December 2023, according to its latest quarterly report. 

Images: Brightstar Resources
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Written By Joshua Smith
Joshua Smith has years of experience in the media sector, having worked as a markets reporter, features writer, and editor since completing a Communications and Journalism degree and a Creative Writing degree. Josh is an avid board game fan and a self-professed coffee snob.