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BRIGHTSTAR RESOURCES LIMITED — Capital/Financing Update 2008
Mar 17, 2008
64581_rns_2008-03-17_cd3d7d4e-b8c2-40f3-b9ad-52cd2250d987.pdf
Capital/Financing Update
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AUSTRALIAN STOCK
EXCHANGE CODE AAM
Current Issued Capital: 95,541,861 Ordinary Fully Paid Shares Market Cap at 16 cents $15M Cash at Bank: $5.7M
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18 March 2008
ASX ANNOUNCEMENT A1 MINERALS EXPLORATION UPDATE
Preliminary results from the current aircore (AC) drill program show robust intercepts at Delta 2.
21 METRES @ 4.03 G/T GOLD FROM 37 METRES 14 METRES @ 2.92 G/T GOLD FROM 37 METRES 4 METRES @ 10.36 G/T GOLD FROM 20 METRES 3 METRES @ 10.92G/T GOLD FROM 28 METRES 2 METRES @ 14.39 G/T GOLD FROM 49 METRES 12 METRES @ 2.46 G/T GOLD FROM 60 METRES 6 METRES @ 3.72 G/T GOLD FROM 34 METRES
DrillIng at Delta 2 prospect is focused on the intersection of a north northwesterly gold trend with a major northeast trending shear zone. Although geological interpretation is yet to be completed a doleritic host rock has been noted which is known to host larger gold deposits Western Australian Archaean terrain.
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Suite 34, 25 Walters Drive, Osborne Park WA 6017 Telephone (618) 9244 1400 Facsimile (618) 9244 1600 Email [email protected] Website www.a1minerals.com.au ABN 44 100 727 491
The Delta 2 deposit is completely hidden under a 12 metre thick blanket of sheetwash alluvium. Wide zones up to 20metres true width of high grade gold bode well for a new open pit discovery here. The latest significant results are reported in the accompanying Table 1, once the balance of assay results are received and interpreted by the company all drilling results for Delta and other regional targets will be released..
A ground geophysical gravity survey has just been completed by Fugro Surveys last week. Modelling and interpretation of the data will take place over the coming weeks. The detailed survey will be used for interpreting drill information and planning new programs. Gravity surveying has been shown by A1 geologists to be an effective regional targeting tool.
The AC drill program continues at Delta and Epsilon.
John Williams Managing Director
The information in this report that relates to mineral exploration 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.. Mr Williams 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 (JORC Code). Mr Williams consents to the inclusion in the report of the exploration results based on the information in the form and context in which it appears.
Suite 34, 25 Walters Drive, Osborne Park WA 6017 Telephone (618) 9244 1400 Facsimile (618) 9244 1600 Email [email protected] Website www.a1minerals.com.au ABN 44 100 727 491
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Table 1. Summary of significant drilling results from Delta2.
| Drillhole | Grid N |
Grid E |
Dip | Azim | From m |
To m |
Thickness | Grade |
|---|---|---|---|---|---|---|---|---|
| m | m | deg | m | m | m | g/t Au | ||
| CTA115 | 7592 | 1155 | -60 | 255 | 37 | 58 | 21 | 4.03 |
| CTA112 | 7618 | 1156 | -60 | 255 | 20 | 24 | 4 | 10.36 |
| CTA112 | 7618 | 1156 | -60 | 255 | 37 | 51 | 14 | 2.92 |
| CTA116 | 7597 | 1174 | -60 | 255 | 28 | 31 | 3 | 10.92 |
| CTA113 | 7624 | 1174 | -60 | 255 | 60 | 72 | 12 | 2.46 |
| CTA113 | 7624 | 1174 | -60 | 255 | 49 | 51 | 2 | 14.39 |
| CTA113 | 7624 | 1174 | -60 | 255 | 34 | 40 | 6 | 3.72 |
| CTA097 | 6292 | 1424 | -60 | 255 | 15 | 21 | 6 | 2.92 |
| CTA020 | 7408 | 1315 | -60 | 255 | 80 | 98 | 18 | 0.84 |
| CTA013 | 7288 | 1258 | -60 | 255 | 59 | 64 | 5 | 2.96 |
| CTA085 | 6570 | 1325 | -60 | 255 | 41 | 49 | 8 | 1.73 |
| CTA018 | 7339 | 1322 | -60 | 255 | 68 | 73 | 5 | 2.75 |
| CTA024 | 7460 | 1310 | -60 | 255 | 59 | 61 | 2 | 5.45 |
| CTA083 | 6647 | 1305 | -60 | 255 | 17 | 26 | 9 | 1.19 |
| CTA116 | 7597 | 1174 | -60 | 255 | 37 | 40 | 3 | 3.33 |
| CTA018 | 7339 | 1322 | -60 | 255 | 96 | 101 | 5 | 1.62 |
| CTA013 | 7288 | 1258 | -60 | 255 | 82 | 84 | 2 | 3.96 |
| CTA085 | 6570 | 1325 | -60 | 255 | 60 | 62 | 2 | 3.56 |
| CTA032 | 7625 | 1298 | -60 | 255 | 58 | 64 | 6 | 1.13 |
| CTA021 | 7429 | 1284 | -60 | 255 | 39 | 42 | 3 | 2.10 |
| CTA019 | 7354 | 1311 | -60 | 255 | 92 | 100 | 8 | 0.75 |
Suite 34, 25 Walters Drive, Osborne Park WA 6017 Telephone (618) 9244 1400 Facsimile (618) 9244 1600 Email [email protected] Website www.a1minerals.com.au ABN 44 100 727 491