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Significant Gold Results up to 16g/t Au Received from Cork Tree Well Geotechnical Drilling

April 18, 2024

Brightstar Resources Limited (ASX: BTR) (Brightstar) is pleased to announce the first round of non-priority assay results from sixteen Geotechnical diamond drillholes at Cork Tree Well (CTW) within the Laverton Gold Project (LGP). These sixteen holes were part of a broader 20-hole diamond drilling program1 designed for metallurgical and geotechnical purposes.

HIGHLIGHTS

Assays received from the first two geotechnical diamond holes completed at Cork Tree Well with gold assays up to 16.83g/t AuHigh-grade results below current pit shell design provides confidence for anticipated mineralisation extensions at depthIntercepts returned include 8.4m @ 3.97g/t Au from 141.65m (CTWGT008), including:0.35m at 16.83 g/t Au from 141.65m, and1.0m at 8.67 g/t Au from 145mIntercepts returned from CTWGT007 (below the historical open pit) include:8.2m @ 1.67g/t Au from 103mCTWGT007 and CTWGT008 were drilled perpendicular to the orebody below the northern portion of the historically mined southern pit at Cork Tree Well, with the gold mineralisation entirely contained within a quartz breccia sedimentary unit

Brightstar’s Managing Director, Alex Rovira, commented“It is pleasing to see further high-grade assays continuing from non-priority geotechnical holes from the diamond drilling program that was completed at Cork Tree Well. CTWGT008 returned an intersection of 8.4m @ 3.97g/t Au from 141.65m, which complements the previously announced2 intersection of 11.4m @ 3.1g/t Au (CTWMET001) drilled 200m to the north.

The metallurgical and geotechnical drilling campaign, conducted in Q1, represents the first diamond holes drilled at Cork Tree Well by Brightstar, with analyses of gold mineralisation now underway after the recent completion of geotechnical logging and sampling. Geotechnical parameters are being strengthened by the knowledge gained from this recently completed program.

Today’s results continue to reinforce our view that the gold mineralisation at Cork Tree Well is structurally hosted, with gold mineralisation returned in CTWGT007 and CTWGT008 being positioned within a chert-breccia horizon in the sedimentary package underneath the historically mined shallow open pit.

The sixteen Geotechnical drillholes (CTWGT001 – CTWGT016) were drilled into the current optimised $2,750/oz pit- shell(s) generated in the 2023 Scoping Study3 with CTWGT007 and CTWGT008 designed by Brightstar’s independent geotechnical consultants targeting structural and rock mass data. Both CTWGT007 and CTWGT008 were drilled perpendicular to the orebody and thus reported intersections represent estimated true widths of significant mineralised intercepts.

Given the calibre of the assays received from the drilling to date, Brightstar continues to see strong potential to build on the existing 303koz @ 1.4g/t Au Mineral Resource4 both at depth with high-grade plunging shoots and strike extensions targeting the structurally-controlled mineralised trends. The high-grade results returned to date are significantly higher than the current 1.4g/t Au head grade of the Mineral Resource and 1.85g/t mine grade from the 2023 Scoping Study, representing significant upside to both metrics.

We look forward to updating shareholders with more information on our diamond program, which forms the basis for metallurgical and geotechnical test work within our Pre-Feasibility Study underway.”

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