A compelling link-up between Aurumin Limited and Brightstar Resources will see the consolidation of their respective Sandstone gold assets into a major gold resource. The two companies have entered a scheme implementation deed, paving the way for a scrip-based deal that will enable Brightstar to acquire Aurumin via one Brightstar share for every four Aurumin shares.
Junior gold miner Brightstar Resources has laid plans to bring its Laverton and Menzies camps into production and merge with fellow resources pundit Aurumin.
Gold focused-junior Brightstar Resources has announced the beginning of ore haulage from its Laverton project, with its first gold pour penciled in for March.
Subiaco-based junior Brightstar Resources has announced plans to raise $30 million in order to accelerate mining and production at its Laverton-based hub.
In this edition of Bulls N' Bears Big Hits, we examine some of the more notable drill intercepts revealed on the ASX, including African Gold's 33m at 2.4g/t gold at its Didievi project in Cote d'Ivoire. We also take a close look at other interesting drill hits from last week as reported by Nexus Minerals and Great Southern Mining, both from WA's Goldfields region.
Subiaco-based Brightstar Resources is preparing to further consolidate its presence in the Goldfields, following the finalisation of its Montague East gold project acquisition.
This week's Bulls N' Bears Runner of the Week is … Alto Metals, after it revealed high-grade gold rock chips – and then also confirmed a takeover bid by Brightstar Resources. There is obviously a fair bit to unpack there, but we will do just that and also look at other companies that ran hard this week, including African Gold, Appen and Atomos.
A day after confirming its intention to acquire Linden Gold Alliance, Brightstar Resources has announced it will raise $12 million, primarily to develop its Menzies and Laverton gold projects.
Brightstar Resources has mined the first ore at its Selkirk deposit that forms part of the company's Menzies gold project, with 1500 tonnes of ore at 3.01 grams per tonne gold stockpiled and ready for processing. Mining is being undertaken by Goldfields-based BML Ventures, which is part of a 50:50 joint venture with Brightstar to mine the Selkirk deposit.
Brightstar Resources says an independent $60.9 million valuation of its gold plant and infrastructure in WA's far northern Goldfields represents significant development advantages ahead of a mining restart at its Menzies and Laverton gold projects. Management says the estimation outlines expenditure the company will not have to pay and the time it will save during the building process because it already has the existing infrastructure.
A Brightstar Resources scoping study has revealed the company will punch out an EBITDA of $153 million over an eight-year mine life at its dual Menzies and Laverton gold projects in Western Australia. The study outlines an initial target of 5.28 million tonnes at 2g/t gold for 322,617 ounces and an extraordinary pre-tax internal rate of return of 79 per cent.
Gold explorer Brightstar Resources is budgeting $22 million to deliver its proposed “low-capital pathway” to restart its Menzies and Laverton projects in the Goldfields.
Brightstar Resources has made the milestone jump from explorer to producer status following the inaugural blast on the cutback of its Selkirk joint venture open-pit mine in Western Australia's historic Menzies goldfields. Mining is expected to run for about six months, with ore being stockpiled in Menzies, and the company is anticipating its maiden gold pour early next year.
Brightstar Resources has its sights set firmly on building its gold resource after revealing results from its latest 2000m reverse-circulation drilling campaign at its Cork Tree Well deposit in the Laverton Gold Belt. The results include 1m at 109.6g/t from 167m and 3m at 8.7g/t from 197m and interpretations show a high probability that a 3km northerly extension to mineralisation exists, requiring immediate follow-up work.
Brightstar Resources has struck more gold at its Menzies project in WA's glittering goldfields, where 18 of 19 holes hit grades of more than 2g/t at its Aspacia prospect and all holes within its “Link Zone” found pay. The company says gold mineralisation is now confirmed in more than 500m of strike at Aspacia, while the Link Zone area has potential for open-pit mining.
Brightstar Resources has inked an earn-in agreement with DevEx Resources on two of the former's Goongarrie project exploration licences. The deal will see Brightstar retain all gold rights, while DevEx can earn up 75 per cent of the non-gold rights by exploring for nickel along the northward extensions of existing and historic deposits within the Highway ultramafic.
Inaugural drilling in three locations at Brightstar Resources' new Menzies gold project has returned multiple high-grade hits of up to 39g/t gold in initial assays from the first 10 holes of a recently completed 37-hole program, for a total of 4486m. Management says its work confirms high grades typical of the historic underground mines of the Menzies goldfields.
Ardea Resources and Brightstar Resources have agreed to a tenement swap as the former looks to expand its Kalgoorlie nickel project Goongarrie Hub, while the latter builds its Menzies gold-lithium operation. Brightstar will acquire all mineral rights to 10 prospecting licenses immediately adjacent to or along strike at its existing holdings, in addition to gold and lithium rights to another exploration license.
Brightstar Resources has cracked the magical million-ounce milestone after upgrading the resource for its Cork Tree Well deposit to a total of 1.02 million gold ounces across its Laverton and Menzies projects. The independently-completed upgrade at the deposit saw Cork Tree Well increase by 20 per cent from 252,000 gold ounces up to 303,000 ounces of the precious yellow metal.
Brightstar Resources is primed to join the ranks of Western Australian gold producers, with mining set to begin in August at its Selkirk open-pit gold mine that holds 30,000 tonnes of ore going more than 6 grams per tonne gold. Brightstar picked up the operation that forms part of the Menzies gold project after completing its successful merger with Kingwest Resources last month.
After a merger deal with Kingwest Resources last month, Brightstar Resources has wasted no time in getting drill rigs to its Menzies gold project in Western Australia to shore up its understanding of the deposit's proven high-grade gold intercepts. The successful merger has fast-tracked Brightstar's move towards becoming WA's next gold producer as it builds its resource growth.
Brightstar Resources has kicked off a scoping study on the combined assets at its Menzies and Laverton gold projects in Western Australia's Eastern Goldfields, with mining set to begin at the former as soon as next quarter. The company is moving towards becoming WA's next gold producer after completing its successful merger with Kingwest Resources last month.
Brightstar Resources has extended its 252,000-ounce Cork Tree Well gold deposit, 30km north of Laverton, with 6000m of RC drilling giving best results of 10m at 4.54 grams per tonne gold from 192m, including 2m at 17.23g/t and 13m grading 1.83g/t from 143m. An updated resource estimate will inform mining feasibility studies due for delivery by the middle of the year.
Brightstar Resources has extended its Cork Tree Well gold deposit 30km north of Laverton, WA with a successful 30 RC hole 6000m drilling campaign. Assays from the first 13 holes have confirmed gold mineralised extensions along strike and at depth with the best results including a 2m hit grading 4.23 grams per tonne gold from 106m, 2m running 3 g/t from 140m and 4m at 1.88 g/t gold from 152m.
While many gold producers are delighted to churn out 100,000 ounces a year, five leading companies wouldn't get out of bed for that. Take a look which WA company stands head and shoulders above them all.
Our board moves wrap includes Wilbert van den Hoek, David McAuliffe, Josh Hunt, YongJi Duan, Tony Lau, Mark Read, Linton Burns, Faheem Ahmed, Michael Melamed, and Tom Lyons.
Brightstar Resources is set to kick off a fresh 6300m RC drilling campaign at its flagship Cork Tree Well project as it looks to extend its gold mineralisation along strike to the north and at depth. The company says the 30 hole program will also include infill drilling at the project's main structure as it looks to convert inferred mineralisation into indicated JORC resource status.
Goldfields explorers Brightstar Resources and Kingwest Resources have agreed to merge in a move to consolidate the gold assets of each company and bring their combined operations a step closer to production. The agreement has been made through a scheme of arrangement under which Brightstar will acquire 100 per cent of the shares in Kingwest.
Brightstar Resources' confidence in the potential of its flagship Cork Tree Well project near Laverton continues to grow with gold assays from an extensional RC drill hole providing the latest boost. Results include 6m at 3.17 grams per tonne gold from 182 metres and the additional strike length opened up by the drill hole has persuaded the company to redouble its efforts next year.
Panther Metals' latest diamond drilling campaign has delivered new gold lodes and extended mineralisation at its Burtville East gold project it outside of Laverton in WA. One of the best results was a 14.6m strike at 2.23g/t gold from 37.4m. Another diamond drill core contained visible gold returns inside a 0.3m hit at 21.4g/t gold from 48.4 metres from outside the project's existing mineralisation.
WA gold explorer Brightstar Resources is now debt-free after just over $6 million in debt was scrubbed from its balance sheet through two cash-less settlements. A larger burden of $5.4 million owed to private company, Stone Resources was lifted from the explorer's shoulders in exchange for a net smelter royalty over selected tenements held by the company. A smaller debt of $630,000 owed to another private company, Great Cortex International was also extinguished from Brightstar's books in exchange for a proportionate slice of shares.
Recent RC drilling by Brightstar Resources at the company's Cork Tree Well gold project 30km north of Laverton in WA has delivered high-grade extensions along strike from the project's existing 252,000-ounce gold resource. Among an array of significant strikes a single hole returned standout intercepts of 5m going 9.46 g/t from 103m and 4m running 2.56 g/t from 168m.
