Brightstar Resources Ltd (ASX:BTR) has grown its resource base to more than 1 million ounces of gold following a significant upgrade to the Cork Tree Well deposit in WA’s Goldfields region.
The Perth-based gold exploration and development company completed over 11,000 metres of infill and extensional drilling between late 2022 and early 2023, leading to a 20% increase in the deposit’s resource.
Cork Tree Well is now reported to host 303,000 ounces of gold, up from 252,000 ounces less than twelve months ago, with the indicated material increasing by over 1 million tonnes or 62,000 ounce. This accounts for more than 50% of the deposit.
Consequently, Brightstar now boasts a JORC-compliant mineral resource estimate of 21 million tonnes at 1.5 g/t gold for 1.02 million ounces.
This update represents a more than 65% upgrade in the indicated ounces to over 3 million tonnes for 157,000 ounces at 1.6 g/t gold.
More targets for testing
Brightstar managing director Alex Rovira said: “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.
“Additionally, the updated mineral resource estimate 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 more than 1-million-ounce resource base with tangible growth shown in just one 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.”
Cork Tree Well targets are open at depth.
Coming up
The updated Cork Tree Well model will feed into Brightstar’s scoping study to be completed in the third quarter to further increase the deposit’s confidence.
The company is planning to begin a reverse circulation (RC) drilling program at Cork Tree Well after completing the 5,000-metre drilling program currently underway at the Menzies Gold Project.
In addition to resource definition and brownfields exploration, the explorer will conduct early-stage greenfields exploration across the Laverton and Menzies Gold projects, including regional aircore, mapping and sampling programs to delineate further targets for drill testing.
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