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BRIGHTSTAR RESOURCES LIMITED Capital/Financing Update 2005
64581_rns_2005-09-15_c3eb07cd-b540-4c7f-b301-1c5f3b2d65da.pdf
Capital/Financing Update
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AUSTRALIAN STOCK EXCHANGE CODE AAM
ANNOUNCEMENT TO THE AUSTRALIAN STOCK EXCHANGE FRIDAY 16 SEPTEMBER 2005
. BRIGHTSTAR BETA IN-PIT DRILLING SHOWS SIGNIFICANT HIGH GRADE GOLD WITHIN 20 METRES OF SURFACE
14 metres @ 18.5 g/t Au 3 metres @ 58.1 g/t Au 8 metres @ 15.3 a/t Au 8 metres @ 13.3 a/t Au 6 metres @ 13.1 g/t Au 2 metres @ 38.1 g/t Au 2 metres @ 36.1 a/t Au 10 metres @ 7.1 a/t Au 2 metres @ 34.5 g/t Au 9 metres [email protected]$ a/t Au 3 metres @ 19.7 g/t Au 2 metres @ 28.9 a/t Au 7 metres $@$ 8.1 g/t Au
- * ROCK CHIP ASSAYS UP TO 215 g/t AU AND REVERSE CIRCULATION DRILL DATA CONFIRM HIGH GRADE ORE BODIES
- E REVERSE CIRCULATION DRILLING PROGRAMS CONTINUE AT BRIGHTSTAR ALPHA AND BETA
1.0 BRIGHTSTAR BETA IN-PIT DRILL INTERCEPTS
Directors of A1 Minerals Limited (A1) are pleased to announce that review of data from the recently acquired BrightStar Beta Project has revealed previously unreleased, significant high grade drill intercepts from grade control drilling (Table 1). These intercepts are from the current pit floor and are readily mineable (Figure 1). A1's Management believes these results provide significant upside in the BrightStar Gold Project's potential.
Previous miners achieved an average grade of 2.8 g/t Au from BrightStar Beta in April/May 2004. A follow-up campaign showed a significant rise in grade during August 2004, of 4.7 g/t Au reflecting a more cohesive orebody at depth.
NB: History of BrightStar Beta: (1900 - 1911) 9,916 ounces gold, average grade 24.9 g/t from total 12.300 tonnes milled.
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
TABLE 1: BRIGHTSTAR BETA PIT: GRADE CONTROL HIGH GRADE DRILL RESULTS FROM CURRENT PIT FLOOR (WITHIN 20 METRES OF SURFACE)
| Drillhole Downhole |
Grade | ||
|---|---|---|---|
| Section | Number Width |
(g/t) | |
| 50045 | MKPA 62 14 |
18.5 | |
| 50030 | MKPA 44 | 3 | 58.1 |
| 50050 | MKPA 67 | 8 | 15.3 |
| 50035 | MKPA 47 | $\overline{8}$ | 13.3 |
| 50130 | 6 MKPA 133 |
13.1 | |
| 50050 | $\overline{2}$ MKPA 71 |
38.1 | |
| 50040 | $\overline{2}$ not identified |
36.1 | |
| 50040 | not identified | 10 | 7.1 |
| 50190 | $\overline{2}$ not identified |
34.5 | |
| 50050 | 9 MKPA 340 |
6.6 | |
| 50045 | $\overline{3}$ MKPA 58 |
19.7 | |
| 50045 | MKPA 58 | $\frac{2}{7}$ | 28.9 |
| 50040 | not identified | 8.1 | |
| 50065 | not identified | $\overline{3}$ | 17.9 |
| 50035 | MKPA 48 | 24.1 | |
| 50035 | MKPA 49 | $\frac{2}{2}$ | 24.1 |
| 50040 | not identified | 14.4 | |
| 50230 | not identified | $\overline{7}$ | 5.8 |
| 50070 | not identified | 4 | 9.7 |
| 50035 | MKPA 53 | $\overline{2}$ | 19.1 |
| 50035 | MKPA 50 | $\overline{6}$ | 6.2 |
| 50050 | MKPA 69 | 4 | 8.9 |
| 50050 | MKPA 68 | $\overline{2}$ | 16.3 |
| 50150 | MKPA 143 | $\overline{3}$ | 10.7 |
| 50025 | MKPA 33 | $\frac{3}{2}$ | 9.1 |
| 50155 50130 |
not identified MKPA 153 |
$\overline{3}$ | 12.6 7.7 |
| 50130 | MKPA 131 | 11.5 | |
| 50090 | MKPA 111 | $\frac{2}{2}$ | 11.2 |
| 50090 | not identified | $\overline{2}$ | 10.4 |
| 50070 | not identified | 6.6 | |
| 50240 | not identified | $\frac{3}{2}$ $\frac{3}{2}$ | 5.9 |
| 50240 | not identified | 5.9 | |
| 50060 | not identified | 8.3 | |
| 50130 | MKPA 119 | 7.4 | |
| 50095 | MKPA 119 | $\overline{2}$ | 7.4 |
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
Figure 1 demonstrates the leanness of the orebody before mining ceased and importantly, the potential for high grade ore below the current pit floor.
FIGURE 1: NEWLY INTERPRETED OREBODIES FROM IN-PIT DRILLING
2.0 CONFIRMATION OF HIGH GRADE ORE BODIES
Rock chip samples taken by A1 during Due Diligence in August 2005, confirm high grade guartz yeins in the current pit floor, with more than half the samples returning between 6.7 g/t Au and 215 a/t Au.
Drilling results from previous owners further confirm high grade ore beneath the pit floor (Table 2) and are currently being interpreted in conjunction with a recent intensive geological mapping program carried out by A1.
A new interpretation of all drill data by A1 geologists is being used in the current reverse circulation (RC) drilling campaign to test for extensions to current lodes.
Mining has already been approved by the regulatory bodies at BrightStar Beta with an existing Notice of Intent (NOI) still current. The lease is also free of native title encumbrance.
TABLE 2: BEST REVERSE CIRCULATION AND DIAMOND DRILLING RESULTS. DIRECTLY UNDER CURRENT BETA PITS
| Section | Drillhole | Downdhole Width (m) |
Grade (g/t) |
From (m) |
|---|---|---|---|---|
| 50100 | MKO341 | 13 | 18.7 | 51 |
| MK0302 | 4 | 16.4 | 82 | |
| 50040 | MK0340 | 7 | 8.1 | 40 |
| 50000 | MK0313 | 5 | 11.0 | 78 |
| 49720 | JMD003 | 4 | 12.6 | 43 |
| 50120 | MK0295 | 6 | 8.1 | 56 |
| 50080 | MK0302 | 6 | 7.3 | 54 |
| MK0302 | 4 | 8.9 | 106 | |
| 50280 | MKB003 | 4 | 8.4 | 71 |
| 49760 | JMC 23 | 6 | 5.1 | 78 |
| 49960 | MK0322 | 4 | 6.2 | 31 |
| 50240 | MK0346 | 4 | 6.1 | 53 |
| 49840 | JMC26 | 2 | 11.1 | 15 |
3.0 REVERSE CIRCULATION DRILLING PROGRAMS CONTINUE AT BRIGHTSTAR ALPHA AND BETA
Since early August 2005, RC drilling at BrightStar has been focussing on extensions to known mineralisation and the completion of 20 metre drill sections in the near surface oxide material. This data will be applied to new resource models for both Alpha and Beta.
The drilling program is due for completion before the end of the month. Results are pending.
John Williams B.Sc. MAusIMM Managing Director
The information in this report that relates to exploration results, mineral resources or ore reserves 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