- Following a recent capital raise, Brightstar Resources (BTR) is gearing up to accelerate exploration at its Laverton gold project in WA
- Earlier this month, the company completed a $2.5 million placement, which will fund the upcoming exploration activities this year
- Brightstar is aiming to undertake these activities to generate new targets across its tenement for future production
- Exploration work includes 10,000 metres of reverse circulation (RC) and 2000 metres of diamond drilling at the Cork Tree Well (CTW) target
- On the market, Brightstar is up 11.1 per cent and trading at three cents per share
Following a recent capital raise, Brightstar Resources (BTR) is gearing up to accelerate exploration at its Laverton gold project in Western Australia.
Earlier this month, the company completed a $2.5 million placement, offering shares at 2.5 cents each, which will fund the upcoming exploration activities this year.
Brightstar is aiming to undertake these activities to generate new targets across its tenement for future production.
Exploration work includes 10,000 metres of reverse circulation (RC) and 2000 metres of diamond drilling at the Cork Tree Well (CTW) target. RC drilling will commence as soon as the final approvals are received.
Last year, CTW saw some “outstanding results”, according to the company, the target continues to be open along-strike and down-dip and parallel lodes have not been effectively tested.
Brightstar is also planning to undertake further drilling at Brightstar South, Hawks Nerst and Comet Well.
“The Laverton district continues to be a highly prospective region for gold mineralisation and contains some of Western Australia’s largest producers,” Managing Director Bill Hobba said.
“We plan to aggressively investigate the highly prospective ground in our tenure to develop high value new targets, as well as build larger and more robust orebodies
in our more advanced projects to support economic assessments of potential production scenarios.”
On the market, Brightstar was up 11.1 per cent and trading at three cents per share at 2:46 pm AEDT.