Brightstar fast-tracks Menzies gold development with Yunndaga drilling

  • BTR on track to become 200,000ozpa producer with Menzies hub accelerated
  • Yunndaga deposit key to company’s plans with 3.4Mt resource
  • Second phase of drilling underway to extend that resource

Special Report: Brightstar Resources has recommenced drilling at the Yunndaga deposit to support fast-tracked development of its Menzies gold hub in WA.

The company’s goal is to become a 200,000 ounces per annum gold producer by 2029 and is already ramping up to produce 35,000-40,000ozpa from its Second Fortune and Fish underground mines via an ore processing agreement with Genesis Minerals.

Just last week, Brightstar Resources (ASX:BTR) released a definitive feasibility study for staged development of its Menzies and Laverton projects which would see production of 338,528oz, or an average of 70,000ozpa, over five years at all-in sustaining costs of $2991 an ounce.

A key part of this plan is Yunndaga deposit, which hosts 3.4Mt at 1.4g/t gold for 156,000oz and was an historical producer of more than 270,000oz at an average grade of +16g/t, from 1896 to 1943.

Notably, the resource at Yunndaga extends to 240m vertical depth with a feasibility study last month highlighting a potential underground operation producing 600,000t at 2.6g/t (diluted mined grade) for ~50,000oz recovered gold production.

 

Phase 2 drilling to fast-track development

Phase one drilling earlier this year totalled ~6,100m of RC drilling, targeting infill of the mineral resource estimate and intersecting up to 8.03g/t.

Second phase drilling is underway and will total 5,000m of RC and 2,500m of diamond drilling, with the company targeting further infill and extensions to the resource.

“The next phase of drilling at Yunndaga is a key piece of our fast-tracked Menzies development plan,” MD Alex Rovira said.

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“Recent exploration and study work has outlined the potential for an underground mining operation that complements the proposed Lady Shenton open pit mine to the north and we are keen to further de-risk the project as well as test the exploration upside we see outside of the resource.

“The combined diamond and RC drilling program will provide the geological, geotechnical and metallurgical data to progress the deposit to the next stage, with a number of holes also targeting extensions to the resource and optimised mine plan.”

 

This article was developed in collaboration with Brightstar Resources, a Stockhead advertiser at the time of publishing.

 

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.

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