Brightstar Resources Ltd (ASX:BTR) has confirmed the high-grade nature of gold mineralisation at the Aspacia and Lady Irene prospects of the Menzies Gold Project, with the latest round of drilling producing strong results, including 1-metre at 39.58 g/t gold.
This inaugural reverse circulation (RC) drilling program for Menzies was designed to cover 37 holes for 4,490 metres at three locations.
The Aspacia prospect produced assays confirming the high-grade nature of the historical underground mine there, which remains open at depth and along strike for further investigation – BTR has identified multiple lodes at Aspacia.
Investors have responded positively in early trading, with shares as much as 63.64% higher in the first half hour of trading to $0.018.
Results confirm geological interpretation
“This program has targeted areas of higher grades that have the potential to form possible ‘early-stage’ mining opportunities and for JORC mineral resource growth,” Brightstar Resources managing director Alex Rovira said.
“The increased geological understanding from the Lady Irene program will allow us to refine drilling targets in the Northern Trend of our Menzies Gold Project, with several targets already identified for further investigation along the 7 kilometres of under-explored tenure, including our recently acquired tenement package from Ardea Resources.
“The rig also completed a program at Aspacia targeting high-grade ‘Menzies-style’ mineralisation under the Aspacia headframe around the historical underground mine; and also tested three targets in the Lady Shenton-Lady Harriet 'Link Zone' which presented a great opportunity to explore for shallow oxide material whilst the rig was on site.”
Rovira highlighted the close correlation between historical records from Aspacia, which suggest a head grade of more than 30 g/t gold, and BTR’s own drilling results, specifically an unexpected stop void in the Aspacia West area, which suggests the potential for more gold structures and lodes.
“On a recent site visit to Menzies, we were also pleased to see activity at Selkirk, with a locally based company in Menzies Mining Pty Ltd doing the initial clearing work in preparation for the mobilisation of equipment and facilities later this month by our JV Partners, BML Ventures Pty Ltd,” Rovira concluded.
Assay results
The full assay results from this round of drilling at Menzies include:
Aspacia:
- 1-metre at 39.58 g/t gold from 56 metres;
- 1-metre at 12.12 g/t from 113 metres;
- 4 metres at 3.11 g/t from 48 metres; and
- 2 metres at 5.35 g/t from 48 metres.
- 8 metres at 4.09 g/t gold from 138 metres, including 1-metre at 16.57 g/t from 143 metres.
Brightstar has now mobilised the drilling rig to the Cork Tree Well of the Laverton Gold Project, where it will complete 2,000 metres of RC drilling, with six holes completed to date.