The Brightstar Resources Ltd (ASX: BTR) share price is in focus as the company unveils new results from its Sandstone Gold Project, including a standout intercept of 305.4 metres at 1.82 grams per tonne gold, substantially increasing the interpreted thickness of the Two Mile Hill tonalite intrusion at depth.
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What did Brightstar Resources report?
- Received new reverse circulation and diamond drilling assays at the Two Mile Hill–Shillington deposit, part of Sandstone Gold Project.
- A deep extensional drill hole returned 305.4m @ 1.82g/t Au from 351.9m, including high-grade sub-zones.
- Other broad intercepts: 205m @ 2.67g/t Au and 197.7m @ 1.14g/t Au in shallower infill holes.
- Current Mineral Resource Estimate (MRE) at Two Mile Hill–Shillington: 14.6Mt @ 1.6g/t Au for 731,000oz Au.
- Infill and extensional drilling is ongoing to upgrade resources and test for further growth.
What else do investors need to know?
The fresh results indicate the tonalite host unit is now interpreted as over 180 metres thick at depth—triple previous estimates—and the key new hole ended in mineralised rock. These findings could signal a significant boost to the scale and potential of the existing Sandstone mineral resource.
Brightstar is progressing a pre-feasibility study on underground mining at Two Mile Hill, with Entech engaged for the task. The company is actively drilling with four rigs onsite, targeting both infill and step-out extensions to support near-term resource upgrades ahead of planned production.
What did Brightstar Resources management say?
Managing Director Alex Rovira said:
These results are potentially game-changing for the Two Mile Hill-Shillington deposit. Already a cornerstone deposit of the Sandstone Project, Two Mile Hill currently hosts significant resources within the mineralised tonalite intrusion. With drill testing to >600m below surface, these Mineral Resources form a key component of the upcoming PFS, with underground mining studies well underway. This new deep drilling could have a material impact on the scale upside of the Two Mile Hill-Shillington deposit. Initial interpretations are that we may be seeing a blow-out of the intrusion to both the east and west at depth, substantially increasing the volume of a prospective host unit. Combined with numerous intersections of visible gold, and the significant intercepts right to end-of-hole, this development is hugely exciting for potential growth. It is early days for this new interpretation, but additional drilling is already planned, with diamond rigs set to return to Two Mile Hill in early August ahead of an update to the MRE before the end of the year.
What's next for Brightstar Resources?
Investors can look forward to continued drilling at Sandstone, aimed at quickly testing the new expanded target area and firming up further upgrades to the resource base. The pre-feasibility study for underground mining is underway, and management expects to update the Mineral Resource Estimate (MRE) before the end of the year.
Longer term, Brightstar aims to integrate expanding resources at Sandstone into its broader production hub in Western Australia, targeting commencement of gold production in the June quarter of calendar 2027.
Brightstar Resources share price snapshot
Over the past 12 months, Brightstar Resources shares have declined 27%, trailing the All Ordinaries Index (ASX: XAO), which has risen 2% over the same period.
