Brightstar Resources (ASX:BTR) has obtained high-grade gold assays up to 125 grams per tonne today as it continues to grow Sandstone, supporting a mineral resource upgrade as well as the gold project’s pre-feasibility study.
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The Australian company’s ongoing exploration work within the 2.40 million ounce Sandstone Hub in Western Australia has achieved significant new drilling results from a number of advanced deposits.
Brightstar’s MD, Alex Rovira, said the drilling program is infilling key deposits as well as testing for growth extensions along strike and down dip.
“Results from Brightstar’s comprehensive CY25 Sandstone drilling continue to impress and provide the necessary technical information to underpin the upcoming mineral resource upgrade and pre-feasibility study,” he said.
Earlier this week, Brightstar also completed a $175 million capital raise, which was supported by tier one institutional investors and existing shareholders. That equity raising, Mr Rovira said, will help accelerate the company towards a final investment decision at Sandstone this calendar year.
“Brightstar has a robust budget to continue to fast-track Sandstone exploration and development activities,” Mr Rovira explained to shareholders at the same time. “High-grade results from extensional drillholes are particularly promising, indicating the limits of mineralisation have not been reached.”
Brightstar acquired Sandstone through a series of strategic moves in CY24 and CY25, culminating in the acquisition of Aurumin (ASX:AUN). That strategic pick-up was driven by the company’s strong belief in the project’s upside.
Sandstone covers approximately 1,800sqkm of prospective tenure in underexplored greenstone belts. “With 1.6M ounces of mineral resources located in the top 150m from surface, Brightstar is well-funded and favourably positioned to grow the Sandstone resource base, and rapidly de-risk the eventual development of Sandstone into a meaningful WA gold production hub,” Mr Rovira said.
“In parallel with RC and diamond core drilling at Sandstone, pre-feas study workstreams are continuing across all disciplines and advancing on schedule.”
BTR is up +2.8% at 53.5cps. The company’s mkt cap is $391.4 million.
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