Gold explorer Brightstar Resources reckons its Laverton Project in WA has a low cost, quick-restart advantage over its peers. 

The project comprises three resource areas at the Cork Tree Well Project (237,000 ounces at 1.9 g/t), the Alpha Project (106,000 ounces at 2.3 g/t), and the Beta Project (101,000 ounces at 1.7 g/t), along with multiple greenfields prospects across the ~200km2 tenement package.

That’s a total JORC Resource of 445,000 ounces at 1.9 g/t gold, significantly with 54% in the higher confidence measured and indicated resource categories.

All these resources are within 70kms of the company’s Brightstar processing plant.

A recent study be COMO Engineers confirmed Brightstar could refurbish and upgrade the plant for low cost using the current equipment on site for a quick production re-start.

This presents a quick and low cost restart opportunity for Brightstar Resources (ASX:BTR) and sets it apart from gold explorers and near term developers without permitted processing infrastructure.

A robust and growing resource within radius of the mill

Brightstar has just commenced an RC drilling program at Cork Tree Well, with assays expected from the end of October until the end of the year.

“We look forward to reviewing the results of this campaign and believe that the results from Strike Drilling’s program may assist us in developing a revised mineral resource estimate for the project,” Brightstar managing director William Hobba said.

“Further exploration at Cork Tree Well is an important step in Brightstar’s three-year plan and restoring the Brightstar Mill to production through establishing a robust gold resource and reserve within a 60km radius of the mill.”

And Brightstar is fully funded to explore, and potentially add significant upside to the current JORC resource, having recently completed an oversubscribed $2.3 million capital raising.

Plenty of exploration upside

There’s been no drilling completed since 2012 across the Laverton projects and the company is confident there’s exploration upside at all the project areas.

Especially given the modest amount of historic drilling at depth when previous operators targeted shallow oxide ore.

The high-grade drilling results immediately beneath the historic pits that have never been followed up, include:

  • 24m at 4.2 g/t from 120m (Cork Tree Well);
  • 9m at 51.7 g/t from 48m (Cork Tree Well);
  • 4m at 20.3 g/t from 24m (Beta); and
  • 7m at 6.4 g/t from 135m (Beta).

 

 

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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