Brightstar Resources unveils maiden gold estimate at Second Fortune and Fish underground mines in WA
Brightstar Resources (ASX: BTR) has identified 24,000 ounces of gold in a maiden ore reserve estimate for the Second Fortune and Fish underground mines in Western Australia.
The gold estimates include 52,000 tonnes at 3.36 grams per tonne for 6,000oz at Second Fortune and 175,000t at 3.23g/t for 18,000oz at Fish.
The company said the estimated reserves declared for the operating Second Fortune and Fish underground mines underpin its current FY26 production and only relate to an ore purchase agreement (OPA) with Genesis Minerals.
First ore at Fish
The maiden reserve release comes as Brightstar is scheduled to produce first ore at Fish within the next week.
The company says it has sunk all the required capex at Fish and expects the mine to commence generating revenue within the September quarter.
Managing director Alex Rovira noted the significant upside at the two ore bodies, which are open at depth and along strike.
Reliable mineralisation
“Second Fortune has operated consistently over four years, highlighting the reliability of the gold mineralisation which shows continuity at depth with wide-spaced drilling,” Mr Rovira said.
“Brightstar intends to commence additional underground infill drilling for mineral resource confidence purposes.”
“We are excited to be mobilising surface and underground diamond drilling rigs to Fish and Second Fortune and will continue to allocate investment into exploration and resource definition drilling to continue to expand these mineralised systems to extend mine life.”
Open pit growth
Mr Rovira said the underground ore reserves and targeted FY26 gold production profile will complement the open pit ore reserves and proposed mine plans in the definitive feasibility study (DFS) into the Menzies and Laverton gold projects.
Brightstar is due to release the DFS next week.
“The company has been steadfast in its approach to derisking our assets and advancing them towards development, with multiple production centres and mining operations to underpin a growing production profile,” he said.