Brightstar Resources Reveals High-Grade Gold Intercepts at Lord Byron
BTR (BTR) Share Update September 2024 Monday 16th
Brightstar Resources Unveils Promising Gold Intercepts at Lord Byron
Brightstar Resources Limited (ASX: BTR) has announced promising results from its recent infill RC drilling program at the Lord Byron deposit, part of the Jasper Hills Gold Project.
Instant Summary:
- Received assay results from ~8,000m Lord Byron infill RC drilling program.
- Wide zones of gold mineralisation with internal sections of high-grade.
- Significant intercepts include 26m @ 2.69 g/t Au and 29m @ 2.62 g/t Au.
- Pending assays for 7 completed diamond holes.
- RC drilling rig to complete the program at Menzies Gold Project soon.
Drilling Results
The remaining assay results from the ~8,000m Lord Byron infill RC drilling program at the Jasper Hills Gold Project have been received. The results revealed wide zones of gold mineralisation that contain internal sections of high-grade gold. Significant intercepts include:
- LBRC24049: 26m @ 2.69 g/t Au from 120m, including 3m @ 12.4 g/t from 123m, and 8m @ 3.48 g/t from 28m
- LBRC24017: 28m @ 2.77 g/t Au from 153m, including 6m @ 6.00 g/t from 172m
- LBRC24012: 29m @ 2.62 g/t Au from 160m, including 1m @ 35.7 g/t from 184m
- LBRC24013: 30m @ 1.97 g/t Au from 143m, including 13m @ 3.18 g/t from 143m
- LBRC24051: 23m @ 2.24 g/t Au from 67m, including 5m @ 7.03g/t from 83m
- LBRC24011: 16m @ 2.01 g/t Au from 140m
- LBRC24048: 1m @ 22.2 g/t Au from 121m, and 7m @ 3.32 g/t Au from 132m, and 24m @ 1.04 g/t Au from 144m
- LBRC24047: 10m @ 2.31 g/t Au from 109m, and 10m @ 1.01 g/t Au from 132m
Program Details
The program is part of a Reverse Circulation (RC) and Diamond (DD) drill-out at Jasper Hills, designed to increase resource confidence, improve geological understanding, and provide geotechnical and metallurgical data. Assays for an additional 7 completed diamond holes are still pending. The diamond rig is currently on site at Lord Byron completing the final 6 diamond tails, drilled as extensions to RC pre-collar holes.
The RC drilling rig is currently finishing the drilling program at the Menzies Gold Project, which is expected to complete in the coming days. Brightstar's Managing Director, Alex Rovira, commented on the excitement surrounding the new assays, highlighting the wide intervals of mineable gold grades and discrete high-grade zones.
Technical Discussion
The Lord Byron deposit consists of a 'Main Zone' of mineralisation associated with the northwest-trending Bicentennial Shear Zone. This 100m-wide zone of shearing hosts the bulk of the mineralisation at the deposit. Additional mineralisation is also present in supergene lodes and as primary gold in banded iron units (BIF) that have been deflected and truncated by the Bicentennial Shear.
The RC drilling program at Lord Byron totals 54 drill holes for ~8,000m of drilling, with all assays now returned. An additional diamond program is ongoing, totaling 13 holes for 1,700m (including 7 diamond 'tails' drilled as extensions to existing RC drillhole pre-collars). Assays remain outstanding for all diamond holes, with 6 short diamond tails remaining to drill to complete the program.
The purpose of this combined RC and DD program was to infill the resource within optimised open pit shells, provide material for metallurgical and geotechnical assessment, facilitate an upgrade of the MRE to indicated or better classification, and potentially delineate Ore Reserves in conjunction with the Definitive Feasibility Study.
The promising results from the Lord Byron drilling program are likely to positively impact Brightstar Resources' stock. The high-grade gold zones and wide intervals of mineralisation suggest significant potential for future mining operations. This could lead to increased investor confidence and a potential rise in stock prices.
Investor Reaction:
Analysts are likely to react positively to the announcement, given the high-grade gold intercepts and the potential for resource expansion. The pending assays from the diamond drilling program could further bolster investor sentiment if they return similarly encouraging results.
Conclusion:
Investors should keep an eye on Brightstar Resources as they continue to advance their Jasper Hills Gold Project. The high-grade gold intercepts at Lord Byron indicate a promising future for the company. Subscribe to our newsletter for regular updates and in-depth analysis.