Brightstar Resources (ASX:BTR) has ‘significantly’ upgraded its Mineral Resource Estimate (MRE) at the Cork Tree Well deposit in Western Australia.
The company says it has grown the Cork Tree resource by 20%, and the upgrade bolsters its overall resource base to above 1 million ounces (Moz) of gold.
Further, Brightstar reports the mineral resource upgrade, completed by independent consultant ABGM, represents a 65% increase to its indicated ounces, now more than 157,000oz @ 1.6g/t Au.
Brightstar adds the updated MRE is currently being used for exploration planning purposes to target areas that are open down-plunge and to ensure sufficient drill density in zones classified as inferred mineralisation to continue to grow the indicated component of the MRE.
The Cork Tree Well model will feed into a Scoping Study, which is set to be completed in Q3, 2023. This will assist future vector drilling efforts to increase the confidence category of deposits in the early stages of planned mining operations.
Brightstar is currently planning to begin a fresh reverse circulation (RC) drilling program at the Cork Tree Well after the completion of the 5,000m drilling program currently underway at the Menzies Gold Project.
Brightstar Resources Managing Director Alex Rovira says: “We are delighted to see the Cork Tree Well resource grow by over 20% and, more importantly, grow our indicated component by 65% to over 3 million tonnes for over 157,000 ounces of gold.
“the updated MRE model has confirmed the presence of a number of higher-grade plunging shoots that are open at depth and will be drill tested in upcoming campaigns”
Additionally, the updated MRE model has confirmed the presence of a number of higher-grade plunging shoots that are open at depth and will be drill tested in upcoming campaigns.
These upgrades have seen Brightstar now control a +1 million ounce resource base with tangible growth shown in just 1 of our many resources at the Laverton and Menzies Gold projects. We look forward to updating the market with further news on our drilling at our projects and our scoping study, which are both presently underway.”
The Cork Tree Well Gold deposit is located 30km north of Laverton, which the company says has the largest known gold endowment in the Eastern Goldfields Superterrane after the Kalgoorlie region.
Brightstar Resources is a gold exploration and development company. The company’s portfolio of assets includes the Cork Tree Well, Beta, Alpha, and Menzies Gold projects.
Write to Aaliyah Rogan at Mining.com.au
Images: Brightstar Resources Ltd
