Brightstar Resources (ASX:BTR) believes the Sandstone gold hub in the Greenstone belt has “immense prospectivity” beyond the project’s already recorded resource base, especially after its latest strong drilling results.
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The Western Australia-focused smallcap explorer received a deluge of results from its RC drilling this week, covering 87 extensional and infill holes.
Significant, high-grade shallow intercepts included eight metres at 4.50 grams per tonne gold from 95 metres at the leading Musketeer deposit and four metres at 2.06g/t gold from 189 metres at Indomitable East.
Results also came in from Cessna, Lord Henry, Lords Corridor, and Duplex.
They’re good enough, Brightstar says, to now expect a material 2.4Moz at 1.5 grams per tonne gold Mineral Resource for the wider Sandstone exploration hub.
“Results from Sandstone continue to justify our confidence,” said chief Alex Rovira today.
The raft of returned assays “demonstrates the potential for material resource growth at several of the Sandstone deposits, and gives an indication of the immense prospectivity outside the current resource base,” he added.
“Following the Scheme of Arrangement with Aurumin… Brightstar will emerge with a significant Mineral Resource base with exploration upside.”
With that in hand, the explorer will then “advance the enlarged project area.”
Drill rigs have been moved to Menzies and Laverton in recent weeks, HotCopper understands, but once exploration at their Second Fortune, Fish, and Yunndaga deposits is finished, they’ll be returned to Sandstone.
Drilling will then recommence at the Sandstone Hub by early September, with as much as 1,000 kilometres of drilling planned through the new financial year.
Markets weren’t overly sold on the BTR news; shares have dropped -2.7% today.
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