- Brightstar Resources (BTR) receives the first batch of assays from the Cork Tree Well deposit located in the Laverton Gold Belt of Western Australia
- Assays have been received from the first 26 out of 80 drill holes, and BTR says it is particularly pleased with the results from 18 holes
- Results included 12 metres at 4.25 g/t gold from 131 metres, and one metre at 20.3 g/t gold from 23 metres
- Additionally, drilling unexpectedly hit nickel sulphide mineralisation and the company says it’s excited to assay the intervals between this area
- Shares have been trading 1.6 per cent lower at 5.9 cents
Brightstar Resources (BTR) has received the first batch of assays from the Cork Tree Well deposit located in the Laverton Gold Belt of Western Australia.
A total of 80 drill holes have been completed as part of the company’s drilling program with assays received for the first 26 holes — 18 of which Brightstar said it finds particularly encouraging.
Notably, the company has highlighted shallow, high-grade gold assays that it said conform closely with the geological model. Significant results included 12 metres at 4.25 grams per tonne (g/t) of gold from 131 metres and one metre at 20.3 g/t gold from 23 metres.
Nickel sulphide mineralisation was also unexpectedly intersected within the deposit. Assays included one metre at 1.6 per cent nickel from 45 metres, including one metre at 1.66 per cent nickel from 64 metres.
Brightstar believes there is potential for this nickel mineralisation to extend between the assayed horizons and is awaiting assays on the unsampled intervals.
Managing Director William Hobba said the company is excited to drill this area following the identification of multiple intercepts in the same hole, as it could represent potential significant accumulations of nickel mineralisation.
Further, he said the company is pleased to see the correlation between the gold results returned from the 18 holes with the JORC resource model.
“The ore body is showing good continuity at depth and along strike, which bodes well for further JORC Resource growth and ultimately conversion to JORC Reserves for future mining studies at Cork Tree Well,” he said.
Shares were trading 1.6 per cent lower at 5.9 cents at 1:33pm AEDT.