Maiden Underground Ore Reserves Underpins FY26 Production
| Stock | Brightstar Resources Ltd (BTR.ASX) |
|---|---|
| Release Time | 26 Jun 2025, 8:20 a.m. |
| Price Sensitive | Yes |
Maiden Underground Ore Reserves Underpins FY26 Production
- Maiden Ore Reserves declared for Second Fortune and Fish underground mines
- Ore Reserves underpin FY26 production under Ore Purchase Agreement with Genesis Minerals
- Significant potential to increase Ore Reserves with planned surface and underground drilling
Brightstar Resources Ltd (ASX: BTR) has announced the declaration of maiden Ore Reserves for the operating Second Fortune and Fish underground mines. The Ore Reserves underpin a significant portion of the FY26 mine plan that is proposed to be processed under the Ore Purchase Agreement (OPA) with Genesis Minerals, ahead of Brightstar's own development of the Menzies and Laverton Gold Projects. The Second Fortune mine has 52kt @ 3.36g/t Au for 6koz Au in Ore Reserves, while the Fish mine has 175kt @ 3.23g/t Au for 18koz Au. Brightstar notes that these two ore bodies are open at depth and along strike, and the company plans to commence additional underground infill drilling to increase mineral resource confidence and confidence. The company will also mobilize surface and underground diamond drilling rigs to Fish and Second Fortune to continue expanding these mineralised systems and extend mine life. The underground Ore Reserves and targeted FY26 gold production are expected to complement the open pit Ore Reserves and proposed mine plans that will be released as part of Brightstar's Definitive Feasibility Study into the Menzies and Laverton Gold Projects, due for release next week.
Brightstar expects a material increase in group Ore Reserves with the finalisation and release of the Definitive Feasibility Study, which outlines the development and expansion of Brightstar's production across Menzies and Laverton. The company also expects the processed head-grade under the Ore Purchase Agreement to increase as ore feed supplied changes to entirely high-grade underground material from the September quarter.
Brightstar is excited to be mobilizing surface and underground diamond drilling rigs to Fish and Second Fortune, and the company will continue to allocate investment into exploration and resource definition drilling to continue to expand these mineralised systems and extend mine life.