Project Overview:
The Menzies Gold Project is part of Brightstar's broader 2Moz Au portfolio in Western Australia's Goldfields region. The Lady Shenton System, which includes the Pericles deposit, currently hosts 287koz Au within the larger project area. The project benefits from established infrastructure and represents a near-term development opportunity in a premier mining jurisdiction.
Program Details:
The current program completes the drilling component of the previously announced Definitive Feasibility Study and +30,000m drilling program. Mineralization is predominantly associated with quartz-sulphide veins developed within shears of the Menzies Shear Zone, with gold mineralization linked to pyrite occurrence in sheared and veined zones.
Understanding These Results:
The high-grade intercepts are particularly significant as they occur within and immediately below the A$2,750/oz pit shell generated during the Scoping Study. With current gold prices exceeding A$4,100/oz, these results demonstrate potential for expanded pit optimization. The mineralization remains open down plunge, suggesting opportunities for future open pit cutbacks or underground scenarios.
Management Commentary:
Alex Rovira, Brightstar's Managing Director, stated:
“The high grade and wide intercepts received from this drilling campaign builds on our existing knowledge of the Lady Shenton System, with these results showing consistent mineralisation within and immediately below the A$2,750/oz pit shell generated during our Scoping Study. At the time, this gold price was considered conservative and even more so given that the current spot gold price is over A$4,100/oz.”
“We intend to immediately commence a Mineral Resource Estimate update for this deposit, with the view to building high levels of confidence in our DFS mine design in parallel with other workstreams currently underway. We are also progressing approvals for Menzies, with proactive environmental planning and community engagement ongoing to facilitate mining operations targeted to commence in 2025.”
“With these Menzies RC assays now received, we look forward to receiving the outstanding Fish and Lord Byron diamond hole assays from the Jasper Hills Project over the coming weeks, along with re-commencing RC drilling at our newly acquired Montague East Gold Project located north of Sandstone in the Murchison region”.
Next Steps & Catalysts:
Brightstar plans to immediately commence a Mineral Resource Estimate update for the deposit, supporting DFS mine design optimization. The company is progressing approvals for Menzies, with environmental planning and community engagement ongoing to facilitate mining operations targeted for 2025.
Outstanding assays from Fish and Lord Byron diamond holes at the Jasper Hills Project are expected in coming weeks, with RC drilling to resume at the newly acquired Montague East Gold Project.
Commodity Outlook:
Gold prices remain strong, currently trading above A$4,100/oz, significantly higher than the A$2,750/oz used in the project's Scoping Study, enhancing potential project economics in the current market environment.
Conclusion:
The latest results from Lady Shenton demonstrate the robust nature of the mineralization and support the project's development timeline toward production in 2025. With ongoing metallurgical studies, resource updates, and geotechnical work underway, the project continues to advance toward its development milestones in H1 2025.
Sources:
Brightstar Resources Drill Result Announcement
Additional Figures:
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