Brightstar Resources Reports Strong Gold Recoveries in Cork Tree Well DFS Testing

Highlights:

• Gold recoveries exceed 90% across various rock types at the Cork Tree Well deposit within the Laverton Gold Project.
• DFS-level metallurgical test-work confirms high gravity gold content, ranging from 25% to 60%.
• Technical studies advance, with geotechnical and mining designs nearing completion.

Brightstar Resources Achieves High Gold Recoveries in Cork Tree Well DFS Testing

Brightstar Resources Ltd (ASX:BTR) has reported robust metallurgical results from its 2024 definitive feasibility study (DFS)-level test-work at the 303,000-ounce Cork Tree Well (CTW) deposit within the Laverton Gold Project (LGP) in Western Australia. The results indicate that gold recoveries exceed 90% across multiple rock types, with high gravity gold content ranging from 25% to 60%.

Metallurgical Test Results

The DFS metallurgical test-work was conducted at a coarse grind of P80 106 µm, with leach times ranging between 24 to 48 hours. The results confirm the effectiveness of a conventional Carbon-in-Leach (CIL) processing flowsheet, demonstrating strong recoveries across different oxidation states.

Dolerite-hosted mineralisation (Delta, Cork Tree Well North):

• Oxide: 90-98%
• Transitional: 90-98%
• Fresh: 90-95%

Sediment-hosted mineralisation (Cork Tree Well South):

• Fresh chert: 91-96%
• Fresh shale: 90-94%

Geochemical analysis revealed low levels of deleterious elements, ensuring minimal impact on recoveries. Additionally, no evidence of 'preg-robbing'—a process where gold is lost to tailings instead of being absorbed by the activated carbon in CIL processing—was observed across any of the tested rock types.

Optimisation of Processing Flowsheet

The test-work, conducted by Independent Metallurgical Operations Pty Ltd (IMO), utilised previously announced metallurgical drill holes CTWMET001 to CTWMET004. These holes targeted sediment-hosted and dolerite-hosted mineralisation, providing comprehensive data for DFS metallurgical assessment.

The material from these drill holes was classified into Master and Variability composites, supporting analysis of leaching, comminution, gravity recovery, and reagent optimisation. The results validated Brightstar’s selected processing method and confirmed that further improvements can be made in future development phases.

Brightstar has initiated an expedited reverse circulation (RC) drilling program, set to commence by early March 2025, to infill dolerite-hosted mineralisation at Delta and target additional oxide and transitional material. This will provide further metallurgical insights to support DFS conclusions.

Advancements in DFS Technical Workstreams

Alongside metallurgical studies, technical workstreams within the DFS are progressing, including:

• Geotechnical and mining studies: Open pit and underground mine designs & schedules are being finalised.
• Process plant design: Processing engineers are in the final design stages.
• Tailings storage facility (TSF): A cost-effective, in-pit deposition solution is nearing completion.

Brightstar continues to focus on optimising operational efficiencies as part of its feasibility study, ensuring strong project economics and metallurgical performance.

Ongoing Metallurgical Work at Other Projects

Metallurgical test-work is also advancing on other Brightstar assets, including:

• Lady Shenton (Menzies)
• Fish and Lord Byron (Jasper Hills)

These studies are expected to be completed in the coming months, further enhancing Brightstar’s regional resource development strategy.

Meanwhile, onsite activities include haul road signage upgrades and preparations for ore haulage from historic low-grade stockpiles, supporting near-term operational objectives.

Board Restructuring

Brightstar also announced the resignation of non-executive director Matthew Bowles, effective immediately, as he pursues other business opportunities. Bowles, who previously served as managing director of Alto Metals Ltd (ASX:AME), played a key role in Brightstar’s corporate strategy during the recent Scheme of Arrangement between the two companies.

Brightstar acknowledged Bowles' contributions and extended best wishes for his future endeavors in the Australian natural resources sector.

Outlook

The strong metallurgical results from Cork Tree Well underpin the ongoing DFS workstreams, with Brightstar advancing towards mine development and operational readiness. The upcoming RC drilling campaign will provide further data to enhance resource confidence, while metallurgical and technical assessments continue across multiple projects within the Laverton region.