Brightstar Resources Limited (ASX:BTR) Announces Significant Mineral Resource Upgrades
Resource Upgrades
Brightstar Resources Limited (ASX:BTR) has announced robust upgrades to its Mineral Resource Estimates (MRE) at key deposits within its Laverton and Menzies Gold Projects. Extensive drilling conducted in 2024 has resulted in substantial increases in Measured & Indicated classified Mineral Resources, surpassing 1 Moz Au. Notable upgrades include a 34% increase at Lord Byron to 251 koz @1.5g/t Au, a 25% increase at Lady Shenton System to 273 koz @1.5g/t Au, a 6% increase at Cork Tree Well to 292 koz @1.4g/t Au, a 22% increase at Fish to 49 koz @4.0g/t Au, a 23% increase at Second Fortune Underground Mine to 40 koz @13.4g/t Au, and a 38% increase at Link Zone to 29 koz @1.0g/t Au. These updates are the first estimates by Brightstar for several recently acquired deposits, emphasising mineable resources with technical rigour.
Future Outlook
Brightstar anticipates further resource upgrades across its Goldfields and Murchison portfolios, including a potential medium-term update at the Yunndaga Deposit. The upgraded MRE information integrates directly into Definitive Feasibility Study (DFS) workstreams, with mining designs, schedules, budgets, and economic models nearing completion.
Executive Comments
Managing Director Alex Rovira stated, “We’re delighted to provide an updated Mineral Resource Estimate for key deposits in Brightstar’s development pipeline. The intent of our drilling programs in 2024 and the Mineral Resource updates was clear – prepare these deposits for near term development and dependable, deliverable mining operations. The infill drilling, both RC and DD, has provided increased confidence across the deposits and reduced geological risks for future mining, which will be crucial as Brightstar looks to progress the deposits towards production. This update features Brightstar’s first resource estimates for several of the recently acquired deposits across the portfolio. It is therefore particularly encouraging to see these results, which include increases in head-grade and Measured & Indicated classification, considering the utilisation of Brightstar’s robust in-house mining-focused estimation parameters”.
Motley Fool contributor Kiarra Jackson has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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