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BRIGHTSTAR RESOURCES LIMITED Capital/Financing Update 2005
64581_rns_2005-11-06_6ad6bebc-38aa-40ee-9b5e-de37368ae5af.pdf
Capital/Financing Update
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ANNOUNCEMENT TO THE AUSTRALIAN STOCK EXCHANGE MONDAY 07 NOVEMBER 2005
AUSTRALIAN STOCK EXCHANGE CODE AAM
EXCELLENT DRILL RESULTS LEADING TO RESOURCE INCREASE
| Highlights: | 2m @ 21.8 g/t | 1.7m @ 39.65 $g/t$ |
|---|---|---|
| 2m @ 26.3 g/t | 3m @ 23.6 g/t | |
| 3.5m @ 25.9 g/t | 5m @ 18.7 g/t | |
| 4m @ 16.0 g/t | 1m @ 27.2 $g/t$ | |
| 2m @ 158.9 g/t | 1m @ 24.1 $g/t$ | |
| 1m @ 27.2 g/t | 1m @ 23.2 g/t | |
| 1m @ 20.5 g/t | 5m @ 18.4 g/t | |
A1 Minerals Limited (A1) is pleased to announce further high grade results from recent drilling. These results, together with A1's on-going review of the drilling conducted by previous owners, confirm the potential of the Beta Project. The results (detailed in Table 1) and review will lead to an increase in the Company's recently announced resource estimate.
It is important to note that Intercepts from A1's recent drilling remain open at depth, indicating potential for further resource increase (Figure 1).
The underground mining history and high gold grades evident in the historic Beta database (including diamond core drilling) are supported by geological interpretation from recent drilling, adding further confidence to Beta's deeper mineralisation. A1 geologists' review of diamond core drill data revealed the core is confirmatory of the true downhole widths and grade of Beta's gold mineralisation.
From the extensive Beta database which contains up to 25 years of exploration data, historic reverse circulation (RC) results beneath 100 metres depth also indicate potential for mining at depth.
The additional drill data are being incorporated into a new model for Beta. None of the high grade intercepts have been mined.
RC drill programs re-commence this week at Beta to test further extensions along strike, near surface and at depth. Diamond drilling is planned to provide metallurgical and mining engineering data for the Company's current pre-feasibility studies.
Suite 34 : 25 Walters Drive : Osborne Park : Western Australia : 6017 Telephone (618) 9244 1400 : Facsimile (618) 9244 1600 : ASX Code AAM Email [email protected] website www.a1minerals.com.au ABN 44 100 727 491 : ASX Code AAM : Member of AMEC
| Drillhole Number |
Northing MGA94 |
Easting MGA94 |
From m. |
Welth lad. |
Gold (GU) |
|---|---|---|---|---|---|
| 880012 | 49802 | 20023 | nili | 2 | ZIE: |
| 118 | 2 | 26. 28 | |||
| BBCO14 | 50060 | 19895 | 1.53 | $\overline{\mathbf{1}}$ | 2782 |
| BBC023 | 49953 | 19864 | 229 | 5 | 613 |
| including | 1 | 20.5 | |||
| SROOT | 49803 | 19972 | 146 | ł | gri |
| BBC010 | 50018 | 19932 | iil4 | j | $\mathbb{Z}^2$ |
| BBC025 | 50180 | 19890 | 140 | $\overline{2}$ | 743 |
| BBC026 | 50120 | 19882 | 151 | ł | 76 |
| MGMS2 | 50125 | 19924 | 105 | ī | 8.17 |
| 140 | 35 | 25.91 | |||
| 165 | 12 | 7.66 | |||
| MGMS3 | 50125 | 19960 | 62 | 5 | 18.27 |
| MGMS4 | 50150 | 19933 | 130 | 17 | 39.65 |
| MGM5 | 50080 | 19937 | 77 | 3 | 23.6 |
| 82 | 1 | 13.5 | |||
| MGM6 | 50120 | 19940 | 73 | 4 | 16.0 |
| 104 | 4 | 62 | |||
| MGM7 | 50160 | 19910 | 135 145 |
1 $\overline{2}$ |
13.2 96 |
| 154 | 1 | 27.2 | |||
| MGM8 | 50100 | 19910 | 120 | į | 83 |
| 140 | ŧ | 19.8 | |||
| 146 | 23.2 | ||||
| MGM9 | 50200 | 19895 | 158 | 0.8 | 1836 |
| MGM10 | 50160 | 19934 | 97 | 11 | IM |
| MGM11 | 50100 | 19943 | 78 | ï | 15.7 |
| MGM12 | 50100 | 19955 | 48 | 17 | 11.0 |
| 55 | 2 | 27.2 | |||
| MGM13 | 50080 | 19960 | 43 | 5 | 18.4 |
| 53 | 6 | 741 | |||
| MGM14 | 50050 | 19960 | 54 | 1 | 6.6 |
| MK002 | 50120 | :19923 | 140 | 2 | 158.9 |
| including | 1 | 265.1 | |||
| MK049 | 50200 | 19920 | 137 | $\overline{\mathbf{1}}$ | 24.1 |
| MK0302 | 50080 | 19948 | 107 | 4 | 8.9 |
| MK048 | 49900 | 19930 | 139 | 3 | 5.3 |
| MK0303 | 50080 | 19910 | 146 | $\overline{2}$ | 6.3 |
| MK0297 | 50120 | 19910 | 146 | 5 | $\overline{4.7}$ |
| MK0307 | 50080 | 19930 | 121 | $\ddagger$ | 11.3 |
| MK002 | 50120 | 19923 | 104 | $\ddagger$ | $\overline{9.4}$ |
All BBC holes recent reverse circulation drilling at Beta. Best results >100 metres depth All BBC holes drilled 60 degrees dip to 135 degrees
All MGM holes $\equiv$ historic diamond drill results (quality of data not assured by A1 Minerals Limited)
All MKO holes = historic reverse circulation drill results. Best results >100 metres depth (quality of data not assured by A1 Minerals Limited)
John Williams B.Sc. MAusIMM Managing Director
The information in this report that relates to exploration results is based on information compiled by Mr John Williams, who is a member of the Australasian Institute of Mining and Metallurgy. Mr Williams is a full time employee of A1 Minerals Limited and has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a competent person as defined in the 2004 Edition of the "Australian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves". Mr Williams consents to the inclusion in the report of the matters based on his information in the form of context in which it appears.
Suite 34 : 25 Walters Drive : Osborne Park : Western Australia : 6017 Telephone (618) 9244 1400 : Facsimile (618) 9244 1600 : ASX Code AAM Email [email protected] website www.a1minerals.com.au ABN 44 100 727 491 : ASX Code AAM : Member of AMEC
LARING T
The BrightStar Gold Project is located on the eastern margin of the immensely prospective Laverton Tectonic Zone, a zone that has produced nearly 10 million ounces of gold from a resource base of nearly 25 million ounces.
THE BRIGHTSTAR GOLD PROJECT:
First Resource Statement High Grade Gold Mineralisation Low Capex Required Low Cost of Production Indicated Toll Treating Option Above 97% Recoveries Expected in Oxide Native Title Agreement 400 Square Kilometres Tenement Holdings
BRIGHTSTAR ALPHA:
2 Kilometres Strikelength Excellent Widths and Gold Grades from surface to 200+Metres Depth Indicated Open Pit Mineability
Mineralization Remains Open Along Strike
in Both Directions and at Depth
Mining Lease Granted
BRIGHTSTAR BETA:
Mining Lease Granted
15 Kilometres from BrightStar Alpha
Notice of Intent Current
High Grade, Open Pit Mineability
Underground Potential
A1 MINERALS LIMITED ASX:AAM Current Issued Capital: 47.218.649 Ordinary Fully Paid Shares Currently Quoted: 31,210,675 Shares Market Cap at $.30 = $14.16$ million Cash at Bank: \$1.0 million Registered Office: Suite 34, 25 Walters Drive Osborne Park WA 6017 Telephone (+61) 89244 1400 Facsimile (+61) 89244 1600 Email [email protected] Web www.a1minerals.com.au ABN 44 100 727 491
Suite 34 : 25 Walters Drive : Osborne Park : Western Australia : 6017 Telephone (618) 9244 1400 : Facsimile (618) 9244 1600 : ASX Code AAM Email [email protected] website www.a1minerals.com.au ABN 44 100 727 491 : ASX Code AAM : Member of AMEC