Brightstar Resources (ASX:BTR) is progressing environmental permitting with the view to selecting an appropriate joint venture partner in Q2 2024 and a subsequent decision to mine by the JV parties.
The $32 million market capitalisation company says the JV discussions regarding its its Menzies Gold Project in Western Australia follows
recorded gold grades up to 54 grams per tonne (g/t) from reverse circulation (RC) drilling at the Link Zone and Aspacia deposit.
Brightstar says the results continue to illustrate the potential for a modest scale mining operation.
Assays for a further 15 holes completed at the Link Zone and 29 holes completed at the Aspacia deposit remain outstanding.
Managing Director Alex Rovira says: “It is pleasing to see the results from the December RC drilling campaign, with 21 out of 27 holes received to date returning significant intersections, including shallow mineralisation up to 54g/t Au across the Merriyulah and Golden Dicks deposits.
This program was designed as extensional and infill drilling to both grow the existing resource at the Link Zone along strike and down dip, and also infill areas to increase geological understanding and certainty for assessing potential mining operations.
The Link Zone area continues to show potential for a shallow modest open pit mining operation that could be accelerated prior to the bigger-scale development of the Menzies and Laverton Gold Projects.
Brightstar is continuing to rapidly advance our suite of projects in 2024, with the diamond drilling underway at Cork Tree Well in Laverton, Prefeasibility Study activities continuing and exploration accelerating at Menzies.”
Brightstar Resources is a Perth-based gold explorer and developer which holds the Menzies Project in Western Australia. The project includes the ‘high-grade’ gold field which has historically produced 787,200 ounces at 18.89g/t Au between 1895 to 1995.
Write to Adam Drought at Mining.com.au
Images: Brightstar Resources
