Resource Growth and Production Risks Loom as Brightstar Ramps Up Drilling

Strong Drilling Results Reinforce Sandstone and Laverton Prospects

Brightstar Resources Limited (ASX: BTR) has announced a fresh tranche of encouraging gold assay results from its Reverse Circulation (RC) drilling campaigns at the Indomitable East deposit within the Sandstone Hub and the Cork Tree Well deposit in the Laverton Hub. These results not only confirm the continuity of mineralisation but also highlight high-grade zones that remain open for expansion both along strike and at depth.

The Indomitable East deposit, part of the broader Indomitable Camp with a current Mineral Resource Estimate (MRE) of 288,000 ounces at 0.9 g/t gold, delivered notable intercepts such as 25 meters at 1.67 g/t Au including 4 meters at 5.93 g/t Au from 90 meters depth, and 3 meters at 6.50 g/t Au including 1 meter at 13.5 g/t Au from 118 meters. These results underscore a robust high-grade component that Brightstar intends to target with deeper drilling.

Cork Tree Well Drilling Supports Future Mining Confidence

At the Cork Tree Well deposit, which hosts an MRE of approximately 303,000 ounces at 1.4 g/t Au, the recent drilling has reinforced geological models and de-risked future mining operations. Highlights include 4 meters at 7.84 g/t Au including 1 meter at 14.7 g/t Au from 101 meters, and 6 meters at 4.37 g/t Au including 2 meters at 8.34 g/t Au from 92 meters. These high-grade intersections within optimised pit shells provide a solid foundation for advancing development studies.

Accelerated Drilling Program and Operational Progress

Brightstar is poised to ramp up its exploration efforts significantly, with three additional rigs, including an RC rig, a surface diamond drill rig, and an underground diamond rig, mobilising shortly to its Menzies, Laverton, and Sandstone hubs. This expansion aligns with the company’s fully funded 130,000-meter drilling program for 2025, aimed at resource infill and extensional drilling to upgrade resource classifications and support mine life extensions.

Meanwhile, mining operations continue at the underground Second Fortune and Fish Mines in Laverton, with ore deliveries under an Ore Purchase Agreement scheduled for processing in May. The company is also on track to complete a Definitive Feasibility Study (DFS) on its Laverton and Menzies projects in the first half of 2025, which is expected to underpin a material increase in gold production in the near term.

Strategic Implications and Resource Growth Potential

Brightstar’s Managing Director, Alex Rovira, emphasised the significance of the drilling results, noting the excellent continuity of mineralisation within conservative pit shells optimised at A$2,500 per ounce gold. The open nature of mineralisation at Indomitable East, particularly at depth, presents a compelling opportunity for resource growth. Similarly, the enhanced geological understanding at Cork Tree Well supports the company’s confidence in advancing development studies and future mining operations.

These developments come on the back of Brightstar’s strategic consolidation of the Sandstone district and ongoing exploration success across its portfolio, positioning the company well for a production ramp-up and value accretion for shareholders.