Brightstar lands higher gold grade and recovery in first parcel

Brightstar Resources processes 56,449t at 2.51g/t gold for 4297 ounces in the first parcel through Laverton mill.

Gold poured at the Laverton Mill from Second Fortune Mine and Lord Byron ore stockpiles. Pic: BTR.

• BTR processes 56,449dmt at 2.51g/t gold through Laverton Mill

• Next toll milling parcel scheduled for May from Second Fortune mine and Lord Byron stockpiles

• Company targeting increased head grade once Fish mine operational

 

Special Report: Brightstar Resources produced 4,297 ounces from 56,449 tonnes of ore processed in a toll milling campaign at Genesis Minerals’ (ASX:GMD) Laverton Mill with head grade and recovery rate exceeding expectations.

The ore was from BTR’s high-grade Second Fortune underground mine and lower-grade Lord Byron open pit stockpiles.

Last month the company welcomed the first gold pour as part of an ore purchase agreement with Genesis and metallurgical reconciliation from the first parcel has provided further encouragement.

The reconciled blended head grade of 2.51 g/t gold surpassed the initial blended estimate of +2g/t, with a strong recovery rate of 94.25%.

Brightstar Resources (ASX:BTR) said this outcome reinforced its production growth ambitions and delivered a robust start to the company’s 2025/26 production program.

The economics are also looking good, with the company remaining debt-free and hedge-free with full exposure to the record US$3000+ gold price. Read: These companies with more than 3Moz gold resources could offer a big payoff

Revenue from this program is slated to support aggressive exploration at its Menzies, Laverton and Sandstone hubs.

Targeting head grade increase

Activities at the Fish underground mine continue on schedule and budget, with development of the underground portal on track for early April and first ore targeted in June.

Once Fish is operational, ongoing Brightstar production will focus on two high-grade underground mines to increase head grade at the Laverton Mill.

“The reconciled results from Parcel 1 highlight the value of our Laverton production hub and the operational ability of our mining teams to deliver gold production and cash flows to Brightstar,” managing director Alex Rovira said.

“The reconciled blended head grade and high recovery rate exceeded our expectations, positioning Brightstar to capitalise on record AUD gold prices as we scale-up our operations.

“With haulage ongoing for our next processing parcel in May and development of the Fish Underground Mine on budget and schedule for delivering first ore in June, we’re building momentum towards sustained production growth and increased cash flows to fund the broader growth objectives across the company’s portfolio.”

A definitive feasibility study (DFS) on the company’s wider Laverton-Menzies development strategy remains on track for delivery in the current half.

This article was developed in collaboration with Brightstar Resources, a Stockhead advertiser at the time of publishing.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.

Originally published as Brightstar lands higher gold grade and recovery in first parcel