Brightstar Resources (ASX:BTR) 45 g/t gold assay results at Jasper Hills project

23 September 2024

Price Sensitive Announcement $

Highlights:

Further drill assays have been received from the Jasper Hills Gold Project, with numerous
+20g/t Au intercepts returned from Reverse Circulation drilling at the Fish deposit,
including:

o FHRCD2403:
▪ 7m @ 9.50 g/t Au from 176m, including 1m @ 45.3 g/t Au from 177m, and
▪ 2m @ 6.74 g/t Au from 195m

o FHRCD2420:
▪ 8m @ 8.01 g/t Au from 180m, including 1m @ 36.4g/t Au from 186m, and
▪ 4m @ 11.9 g/t Au from 259m, including 1m @ 37.4 g/t Au from 260m

o FHRCD2426:
▪ 7m @ 5.80 g/t Au from 174m, including 1m @ 14.5 g/t Au from 175m

o FHRCD2404:
▪ 4m @ 9.70 g/t Au from 274m, including 1m @ 30.2 g/t Au from 274m

o FHRCD2430:
▪ 5m @ 6.54 g/t Au from 148m, including 1m @ 21.0g/t Au from 148m

o FHRCD2428:
▪ 4m @ 3.14 g/t Au from 121m

• These holes were targeting infill and extensional areas within and adjacent to the high-grade Fish orebody, with a Stage 1 Underground mine design1 generating high grade material from a simple operation <150m from the surface
• Fish is expected to be a key contributor to early cash flows from development of the Jasper Hills Gold Project, with Brightstar’s scoping study1 outlining Stage 1 production of ~200kt @ 4.4g/t Au for +26koz within 14 months (all contained within M+I classification)
• Within the broader Laverton Gold Project, further assays from two geotechnical diamond
  holes from Cork Tree Well have been received with individual results to 5.59 g/t Au,
  including:

  o CTWGT015:
  ▪ 3.95m @ 1.25 g/t Au from 50.0m – 55.6m (incl. 1.65m of core loss), and
  ▪ 2.0m @ 1.21 g/t Au from 100.0m

  o CTWGT016:
  ▪ 9.0m @ 0.77g/t Au from 93m, and
  ▪ 2.0m @ 0.94g/t Au from 69m.

Overview:

Brightstar Resources Limited (ASX: BTR) (Brightstar) has announced initial results from the Reverse Circulation (RC) drilling at the Fish deposit, part of the 293koz Au Jasper Hills Gold Project; with additional
results from geotechnical diamond core drilling at the 303koz Au Cork Tree Well deposit also received.

The drilling program at Fish was designed to infill and extend gold mineralisation within and adjacent to the conceptual “Stage 1” underground mine design at Fish articulated within the released Jasper Hills Scoping Study1, whilst the diamond holes at Cork Tree Well were drilled into unmined ground north of the existing mined pits for geotechnical assessment.

Company Comments:

Brightstar’s Managing Director, Alex Rovira, commented “The assays returned from Fish confirm the high-grade nature of the resource, with consistent mineralisation over several metres providing support for conventional underground mine designs and stoping widths at shallow depths. With the current Jasper Hills drilling program ending within a week, on-going geological interpretations are being completed ahead of resource upgrades across the Brightstar portfolio, with our field team mobilising to conduct a RC program at the Montague East Gold Project in Sandstone in a months’ time.

While drilling at Jasper Hills, we also took the opportunity to process two Cork Tree Well geotechnical holes for gold assays, with pleasing results being returned given the focus of these holes were for gaining geotechnical data for open pit mining. CTWGT015 and CTWGT016 were drilled at the northernmost (Delta) deposit at Cork Tree Well in January 2023, within an optimised $2,750/oz pit shell generated during our 2023 Scoping Study3 for the broader Laverton Gold Project. The geotechnical information is being utilised by our mining consultants ahead of re-optimisations and the associated new pit designs for our Definitive Feasibility Study presently underway.

We look forward to sharing ongoing results as they are received, with assays still pending from Second Fortune (surface and underground DD drilling), Lady Shenton RC (Menzies), Cork Tree Well DD (Laverton), and both RC and diamond programs at Jasper Hills generating valuable information for Mineral Resource Estimate updates and various technical aspects of the DFS”

Full ASX Announcement: 6A1226564.pdf (discoveryalert.com.au)