- Following a recent fundraising, Brightstar Resources (BTR) is preparing to accelerate exploration at its Laverton gold project in WA
- Earlier this month, the company completed a $2.5 million placement, which will fund exploration activities coming this year.
- Brightstar aims to undertake these activities to generate new targets in its building for future production
- Exploration work includes 10,000 meters of reverse circulation (RC) and 2,000 meters of diamond drilling on the Cork Tree Well (CTW) target
- On the market, Brightstar is up 11.1% and trading at three cents per share
Following a recent fundraising, Brightstar Resources (BTR) is preparing to ramp up exploration at its Laverton gold project in Western Australia.
Earlier this month, the company made a $2.5 million offering, offering shares at 2.5 cents each, which will fund exploration activities coming this year.
Brightstar aims to undertake these activities to generate new targets in its building for future production.
Exploration work includes 10,000 meters of reverse circulation (RC) and 2,000 meters of diamond drilling on the Cork Tree Well (CTW) target. RC drilling will begin as soon as final approvals have been received.
Last year, CTW saw “outstanding results,” according to the company, the target continues to be open along strike and down dip and parallel veins have not been effectively tested.
Brightstar also plans to undertake further drilling at Brightstar South, Hawks Nerst and Comet Well.
“The Laverton District continues to be a very promising area for gold mineralization and contains some of Western Australia’s largest producers,” said Managing Director Bill Hobba.
“We plan to aggressively investigate the highly prospective terrain of our mandate to develop new high-value targets, as well as construct larger and more robust ore bodies.
in our more advanced projects to support economic assessments of potential production scenarios. »
In the market, Brightstar was up 11.1% and trading at three cents per share as of 2:46 p.m. AEDT.
