Brightstar Resources finds 500m gold zone in Two Mile Hill deposit
- Brightstar Resources intercepted a mineralised tonalite zone up to 500m thick with visible gold at the Sandstone Gold Project.
- The announcement saw Brightstar shares jump 11.6% to $0.52.
- The deep drilling programme aims to expand the resource boundary beyond its current 700-metre depth.
Brightstar Resources (ASX:BTR) reported intersecting up to 500m of mineralised tonalite containing visible gold at its Two Mile Hill deposit.
The newly completed diamond drill holes follow up on an earlier intercept that returned 305.4 metres at 1.82 grammes per tonne of gold from a depth of 351.9m.
The company stated that the host tonalite unit is now interpreted to have widened to over 300m in horizontal thickness.
"We're seeing notably thicker tonalite, with downhole widths of 400-500m in both completed holes, and gold-bearing quartz veins logged throughout the tonalite unit," stated Brightstar's Managing Director Alex Rovira.
Both completed diamond holes extended beyond their planned depth and ended in mineralised tonalite displaying alteration, quartz veining, and sulphide mineralisation.
Following the announcement, the Brightstar Resources share price was up at $0.52.
The combined Two Mile Hill-Shillington deposit currently holds an estimated resource of 731,000 ounces at 1.6 grammes per tonne of gold within the broader 2.9 million ounce Sandstone Gold Project.
Brightstar stated that its exploration strategy includes targeting up to ten other potential analogous felsic intrusive targets identified through geophysics.
