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BRIGHTSTAR RESOURCES LIMITED Capital/Financing Update 2006
64581_rns_2006-06-05_7d5bf6b0-c6ea-4561-8a0a-758aea4f3cea.pdf
Capital/Financing Update
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Announcement to the ASX Tuesday 6 June 2006
22 METRES @ 28.6g/t GOLD RC DRILL INTERCEPT:
1.0 BRIGHTSTAR GOLD PROJECT
Latest results from the recently completed 10,000 metre Brightstar drilling program further advance A1 towards mining. Work continues on assessing the feasibility of the various mining and processing options, in conjunction with expanding and upgrading previously reported resources.
1.1 BRIGHTSTAR BETA
5,000 metres of aircore (AC) holes were drilled at Beta to upgrade and test extensions to near surface mineralization. The majority of the 60 holes drilled were mineralized with >1 a/t gold.
Table 1: Recent Drilling Results - Best Intercepts
| Hole | From | To | Downhole | Gold | Local | Local | Dip | Azim |
|---|---|---|---|---|---|---|---|---|
| Number | Interval (m) | (g/t) | North | East | ||||
| BrightStar Beta | ||||||||
| BBC052* | 31 | 53 | 22 | 28.6 | 50090 | 19970 | -70 | 135 |
| Including | 31 | 34 | 3 | 132.3 | 50090 | 19970 | $-70$ | 135 |
| BBA017 | 22 | 31 | 9 | 3.4 | 50600 | 20010 | -60 | 135 |
| BBA060 | 14 | 20 | 6 | 3.2 | 50250 | 19960 | -60 | 135 |
| 56 | 62 | 6 | 1.2 | 50250 | 19960 | -60 | 135 | |
| BBA020 | 56 | 58 | 2 | 5.2 | 50640 | 20020 | -60 | 135 |
| BBA045 | 25 | 32 | 7 | 2.4 | 50030 | 20070 | -60 | 135 |
| BBA003 | 62 | 68 | 6 | 2.5 | 50406 | 20164 | -60 | 135 |
| BBA053 | 20 | 22 | 2 | 4.1 | 49820 | 20040 | $-60$ | 135 |
| BBA 002 | 43 | 46 | 3 | 3.3 | 50380 | 20170 | -60 | 135 |
| BBA027 | 75 | 78 | 3 | 3.3 | 49780 | 20090 | -60 | 135 |
| BBA 017 | 37 | 40 | 3 | 2.7 | 50600 | 20010 | -60 | 135 |
| BBR013 | 49 | 54 | 5 | 1.7 | 50400 | 19895 | -60 | 135 |
| BrightStar Gamma** | ||||||||
| ECA013 | 5 | 7 | 2 | 27.2 | ||||
| ECA007 | 3 | 5 | $\overline{2}$ | 4.7 | ||||
NB: *BBC052 includes 8 metres stoping **Gamma (ex Edinboro Castle) Holes BBA, ECA (Aircore), BBC (RC), BBR (RAB) Final surveying to be conducted
2,000 metres of rotary air blast (RAB) drilling was completed to test the remaining near surface portion of the Beta Lease, returning 5m @ 1.7q/t gold from one hole. Follow-up work is required.
A1 MINERALS LIMITED
ASX:AAM
Current Issued Capital: 57.862.649 Ordinary Fully Paid Shares
Currently Quoted: 56,462,649 Shares
Market Cap at 24 cents \$13.9M
Cash at Bank: \$2M
BRIGHTSTAR GOLD PROJECT
Near Granny Smith and Sunrise Dam 500sakms Resource 600,000 ounces and growing High grade gold mineralisation Native Title Agreement Mining Lease Granted PFS indicates low cost, strong profits Toll treating option Production decision expected 2006
NARNOO EXPLORATION PROJECT
Near Mulga Rocks Uranium deposit 2,000sokm tenements and applications Prospects for gold and uranium 100% owned by A1 Native Title Agreement Current ground breaking exploration programs
Drilling BrightStar Beta's Expansive Pit Floor Ready for Mining
Contact Details: Telephone (618) 9244 1400 Facsimile (618) 9244 1600 Email [email protected] Website www.a1minerals.com.au
Announcement to the ASX Tuesday 6 June 2006
1.0 BRIGHTSTAR GOLD PROJECT
1.1 BRIGHTSTAR BETA continued
Reverse circulation (RC) drilling was conducted to upgrade resources in the deeper open pit design, with assays still awaited for most holes. The best result to date was encountered in drilling the deeper oxide zone. The results of one hole have been interpreted and appear significant in upgrading the resource and extending the depth of the optimised open pits. Hole BBC 052 was drilled on the pit ramp approximately 10m below surface, returning a total mineralized inverval of 22m @ 28.6g/t gold from 31 metres, which includes 8 metres of stoping from old workings (Figure 1).
Once all assays are received from this program, the Company will complete final pit designs.
Figure 1: BrightStar Beta Section Showing BBC 052
Announcement to the ASX Tuesday 6 June 2006
1.0 BRIGHTSTAR GOLD PROJECT
1.2 REGIONAL TARGETS
An additional 2,000 metres of RAB/AC drilling was completed to test nearby leases outside the BrightStar Alpha and Beta mining tenements.
BrightStar Gamma (old Edinboro Castle) aircore results of 2m @ 4.7g/t from 3 metres depth and 2m @ 27.2g/t from 7 metres, indicate the presence of surface gold. Follow-up drilling will further test this new and exciting prospect.
2.0 NARNOO
2.1 DESERT SUN GOLD ANOMALY
First past drilling has shown very wet sub-surface conditions at the Desert Sun Anomaly and the presence of gold mineralisation at depth.
Sixteen holes were drilled on two lines 100 metres apart. Best assays included 4m @ 0.36g/t gold and 4m @ 0.1g/t gold. Follow-up work is required.
2.2 URANIUM
A scintillometer has been acquired to conduct a ground radiometrics survey which will be integrated into current surveys. Geochem sampling has commenced at Narnoo and is scheduled to continue throughout the year.
John Williams B.Sc. MAusIMM Managing Director
The information in this report that relates to exploration results is based on information compiled by Mr Tony Ryall, who is a member of the Australasian Institute of Mining and Metallurgy. Mr Ryall is a consultant to 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 Ryall 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 AA