Brightstar’s gold resource upgrades underpin DFS and future mining

• Brightstar Resources upgrades resources across its Laverton and Menzies hubs ahead of DFS
• Upgrades provide increased confidence and reduce geological risks for future mining
• Further upgrades expected with potential medium-term update at the Yunndaga deposit

Special Report: Brightstar Resources has upgraded resources at key deposits within its Laverton and Menzies hubs in WA’s Goldfields ahead of a definitive feasibility study that will underpin future mining operations.

The upgrades were based on extensive drilling carried out across the two hubs in 2024 and also mark the first time that many of the deposits have been estimated by the company.

Brightstar Resources (ASX:BTR) managing director Alex Rovira said the 2024 drilling was aimed at preparing the 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 toward production,” he said.

“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.”

The company already has more than 1Moz of gold in high confidence measured and indicated resources with +300,000oz in producing or near-term deposits such as Second Fortune, Fish and Lord Byron at Laverton as well as Lady Shenton and Link Zone at Menzies.

Its DFS over the Laverton and Menzies hubs is expected to be released in H1, 2025.

Upgraded resources

The most noteworthy upgrades are a 34% increase in total measured and indicated resources at Lord Byron deposit to 251,000oz at 1.5g/t gold along with a 25% increase in resource grade at the Lady Shenton system to 273,000oz at 1.5/t gold.

Cork Tree Well has also seen total indicated ounces increase 6% to 292,000oz at 1.4g/t gold while total resources at Fish deposit have increased 22% to 49,000oz at 4g/t gold.

Resource grade at the Second Fortune underground mine increased by 23% to 40,000oz at 13.4g/t gold while the Link Zone deposit has seen total resources upgraded 38% to 29,000oz at 1g/t gold.

Ore from mining at Second Fortune is currently blended with existing lower-grade stockpiles from the Laverton Hub and processed at Genesis Minerals’ Laverton mill under the Laverton Hub ore purchase agreement, which covers the delivery, sale and processing of up to 500,000t of ore over 2025 and Q1 2026.

Based on drilling that’s continuing rapidly at the Laverton, Menzies and Sandstone hubs throughout 2025, BTR expects more resource upgrades to be delivered across its Goldfields and Murchison portfolios including a potential medium-term update at the Yunndaga deposit at Menzies.

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.