Brightstar Resources pours first gold from | Australian Markets

Brightstar Resources has poured first gold from its Laverton operations, with 100.2kg of gold dore produced from 56,000 tonnes of ore at an approximate blended grade of 2g per tonne.

Brightstar instructed the Australian Securities Exchange on Thursday the gold was produced at Genesis Minerals’ Laverton mill, with the ore coming from the Second Fortune underground mine and Lord Byron lower-grade stockpiles.

The company stated it will ship, promote and course of up to 500,000 tonnes of ore via the Laverton mill during this yr and the first quarter of subsequent yr.

Brightstar stated with haulage ongoing from Second Fortune and Lord Byron, it was well-positioned to provide constant ore volumes for normal processing parcels.

The company stated this may generate regular income in help of “aggressive” exploration and development initiatives throughout its Menzies, Laverton and Sandstone hubs, together with a absolutely funded 100,000m drilling program at the moment lively at Sandstone and Laverton’s Cork Tree Well project.

It additionally stated development was progressing on schedule on the Fish underground mine, with the underground portal firing anticipated subsequent month, and first ore anticipated within the June quarter.

Managing director Alex Rovira stated the Laverton maiden gold pour marked a key milestone because the company ramped-up manufacturing this yr.

“With gold production ongoing in Laverton and record high gold prices, we continue to develop the Fish underground mine with conviction and on schedule which will shortly add a second high-grade ore source to our Laverton production profile, with first ore expected in the June quarter,” he stated.

“With Brightstar’s current production, additional near-term production and definitive feasibility study work imminent, the company is firmly on track to deliver sustained production and value growth.”