Brightstar Resources joins WA gold producer ranks | Australian Markets

Brightstar Resources has grow to be Western Australia’s latest gold producer after efficiently finishing the company’s maiden gold pour at its processing companion Genesis Minerals’ close by Laverton mill to provide 100 kilograms of stable gold.

The company says the pour yielded more than 100kg of gold doré from roughly 56,000 tonnes of ore processed at a blended grade exceeding 2 grams per tonne (g/t).

The ore was sourced from Brightstar’s high-grade Second Fortune underground mine and current lower-grade stockpiles at its Lord Byron open pit at Laverton. It was processed below the company’s 500,000t ore buy settlement with Genesis Minerals.

This first marketing campaign concluded on schedule earlier this week and the company’s closing metallurgical reconciliation for the maiden pour is underway to verify recovered ounces. These outcomes are anticipated within the subsequent 4 weeks.

Brightstar says gold haulage from the company’s close by Second Fortune and Lord Byron mines continues at tempo, setting the stage for a second processing parcel within the June quarter.

The company is on observe to open Brightstar’s second underground mine, at its Fish underground project. Underground portal firing at Fish is slated for early April.

With gold manufacturing ongoing in Laverton and document high gold costs, we proceed to develop the Fish underground mine with conviction and on schedule which can shortly add a second high-grade ore source to our Laverton manufacturing profile, with first ore anticipated within the June quarter.

The two underground mines are set to churn out a regular move of high-grade gold ore from Brightstar’s Laverton hub. Historically, the Second Fortune mine produced about 10,000 tonnes monthly at 3.6g/t.

The company’s scoping research for Fish initiatives it should mine 188,000t of ore at 4.4g/t, delivering 26,000 ounces over 13 months, with a JORC-compliant useful resource of 225,000t at 5.7g/t for 41,000 ounces gold.

Brightstar’s financial place stays a standout, with the company sustaining its debt-free and hedge-free standing, making certain it has full publicity to the booming Australian gold price, which has lately pushed in direction of a mind-blowing $5000 an ounce.

The regular money move from the Genesis mill over the subsequent 12 months will fuel Brightstar’s subsequent aggressive exploration push, together with an lively, totally funded 100,000m drilling program on the company’s lately acquired Sandstone hub and Laverton’s Cork Tree Well project.

The company’s broader strategy is nearing a vital juncture, with a definitive feasibility research on its Laverton-Menzies hub development anticipated by the subsequent quarter.

The research will define Brightstar’s roadmap to scale up manufacturing throughout its appreciable 3-million-ounce JORC useful resource base, spanning its Laverton, Menzies and Sandstone hubs.

Second Fortune and Lord Byron have sources of 165,000t at a stellar 10.9g/t for 58,000 ounces and 4.5mt at 1.7g/t for 244,000 ounces respectively, however solely account for about 300,000 ounces of the company’s growing 3m-ounce stock.

Brightstar is poised to money in on its ore buy settlement with Genesis because of its premium gold grades at Second Fortune and Fish. With a 12 months of exploration and elevated manufacturing profile forward at document gold costs, 2025 seems the products for WA’s latest promising gold producer.

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