The future is Brightstar as cap raise puts gold exploration into overdrive
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Brightstar is preparing to accelerate exploration at its Cork Tree Well gold project after an oversubscribed $2.5m placement.
The company has massive plans underway – 10,000m of reverse circulation drilling and 2,000m of diamond drilling in the greater CTW area targeting extensions to known mineralisation.
It’s an exciting prospect now Brightstar has its recently acquired E38/3434 exploration licence from Regis Resources, extending the operational area of the CTW project.
Brightstar Resources (ASX:BTR) is also investigating the use of remote sensing programs to improve its targeting of subsurface deposits particularly where palaeochannels are interpreted to interrupt geochemical signals.
Other plans include carrying out short impact aircore drilling to test for anomalism in areas of historical mining and prospecting with significant previous anomalism but little effective modern exploration.
“The Laverton district continues to be a highly prospective region for gold mineralisation and contains some of Western Australia’s largest producers,” managing director Bill Hobba said.
“We plan to aggressively investigate the highly prospective ground in our tenure to develop high value new targets, as well as build larger and more robust orebodies in our more advanced projects to support economic assessments of potential production scenarios.
“The RC drilling campaign at Cork Tree Well will commence as soon as final PoW approvals are received.”
The company is currently waiting on assays from a 2,000m aircore program it completed at the Brightstar South area.
Previous exploration by the company had indicated that CTW, which has a current resource of 3.86Mt at 1.9g/t for 237,000oz of contained gold, is open both at depth down dip and along strike to the north and with parallel lodes.
Brightstar’s planned drilling will mainly focus on the northern end of the known system with a smaller proportion of the program focussed on determining the potential of parallel lodes/splay lodes.
Exploration for new targets to supplement future potential production from CTW will also be investigated during 2022.
This includes the new Central project area, which was identified from historical holes with anomalous results, that is located east of the CTW Main Lode.
At the Brightstar South project, the company is planning to carry out further aircore drilling at the Queen of Hearts South and Ophir Bore prospects.
Mapping and interpretation indicate that these projects sit within a layered mafic-ultramafic package while the prevailing strike of the unit appears to be northeast and steeply dipping to the southeast.
The area around the Queen of Hearts South is historically mined similar to Sailor Prince although recorded production is less than 100 ounces of gold.
Ophir Bore is also south of Sailor Prince and has historical production of 42 ounces of gold at a grade of 21.7g/t.
At Hawks Nest, which is well known in the Laverton district as a prolifically productive dry-blowing and prospecting spot, Brightstar believes there is potential for primary mineralisation that feeds the surficial gold.
It is currently planning initial exploration work to bring a new project forward for processing.
The company has also identified four priority targets at the Comet Well project to be investigated and drilled in 2022.
Other targets within the project area will continue to be researched and will attract funding as priority targets are tested.
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.