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Brightstar scopes out consolidating its gold assets, mining set for next quarter
Special Report: The binoculars are out at the Laverton and Menzies gold projects as Brightstar Resources looks to consolidate the … Read More
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The binoculars are out at the Laverton and Menzies gold projects as Brightstar Resources looks to consolidate the projects into a combined asset base and commence mining this year.
A scoping study is underway to help guide near-term exploration and resource definition efforts into key deposits such as Selkirk, scheduled for early extraction and cashflow generation from the combined JORC resource of 965,000oz of gold @ 1.5 grams per tonne (g/t) assets.
Brightstar Resources (ASX:BTR) has engaged contractors GR Engineering and ABGM to deliver insights into mining and processing options, including the refurbishment of its Laverton processing plant.
More importantly, the study will help identify capital expenditure requirements for the refurbishment and expansion of the Brightstar plant and supporting infrastructure at both Menzies and Laverton and will help discussions with debt providers in delineating an optimal debt-financing mix.
Mobilising mining fleet
Brightstar also recently confirmed that a mining fleet will be mobilised in late July at Selkirk, with mining to commence in August and gold to be processed at St Barbara’s (ASX:SBM) Gwalia plant. Further newsflow around the deposit will include an operational budget and planned ore haulage and processing pegged for Q1 next year.
Results from the scoping study are set to be released in Q3 this year, but before then BTR will be providing news about an updated mineral resource estimate from its Cork Tree Well project to add to the current 252,100oz estimate.
Drill campaigns will get underway shortly across Laverton and Menzies and will be focused on increasing the confidence at deposits in the first stages of planned mining operations, with resource growth, grade and quality targeted.
Brightstar’s Managing Director, Alex Rovira said the team is looking forward to building a new WA gold story with a clear pathway to production commencing first at Selkirk in Q3 2023.
“With a combined asset base approaching 1moz of JORC 2012 compliant gold resources over a number of deposits within our portfolio across the Laverton and Menzies hubs, we expect the scoping study to provide strategic direction on focused resource definition drilling activities and further study work to build Brightstar into Australia’s next meaningful gold producer,” Rovira said.
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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