Brightstar Resources Ltd has kicked off its 2025 production program with ore haulage underway from the Laverton Hub in Western Australia in preparation for the first gold pour expected in March.
Ore is being hauled to Genesis Minerals Ltd’s Laverton mill as part of an Ore Purchase Agreement (OPA) with Genesis allowing Brightstar to sell up to 500,000 tonnes of ore over 2025 and the first quarter of 2026.
Existing ore stockpiles containing around 9,000 ounces of gold are available for haulage and processing with all associated mining costs already sunk. The first processing campaign and gold pour is scheduled for March 2025.
Platform for growth
Cash flow generated from the OPA will provide a platform for significant growth with aggressive exploration plans in parallel with the anticipated release of Brightstar’s definitive feasibility study (DFS) on the wider Laverton-Menzies development, including refurbishment of the 100%-owned processing plant in Laverton.
Brightstar’s managing director Alex Rovira said: “The commencement of haulage to Mt Morgans is a major milestone for Brightstar following months of mine development, approvals and commercial work streams. We are now well positioned to see a return on this time and capital invested, particularly at a time of record AUD gold prices.”
Brightstar’s CY25 Laverton production strategy.
Accelerated strategy
The start of haulage to the Laverton Mill realises a key final step in Brightstar executing on its accelerated CY25 Laverton production strategy.
The company remains debt-free and hedge-free, with full exposure to the record AUD gold price.
As well as Laverton open pit stockpiles, ore for the OPA will be sourced from the operating Second Fortune underground mine, which has a JORC resource of 165,000 tonnes at 10.9 g/t for 58,000 ounces.
Ore being loaded at the Second Fortune ROM.
Brightstar’s historic production at Second Fortune has averaged 10,000 tonnes per month at a reconciled mined grade of 3.6 g/t gold for 12,000 to 15,000 ounces per annum.
Fish in development
Ore will also be sourced from the Fish Underground Project, which is in development. This is subject to final regulatory approvals.
Fish has a JORC resource estimate of 225,000 tonnes at 5.7 g/t for 41,000 ounces and a March 2024 scoping study outlined 188,000 tonnes at 4.4 g/t for 26,000 ounces in the indicated classification to be mined over 13 months.
Existing Fish open pit.
Ore is expected to be accessed within six weeks of cutting the underground portal and therefore, the project is expected to have relatively low peak funding requirements due to early cash flow via the OPA.
Diversifying production
"The introduction of a second underground mine at the Jasper Hills Gold Project will add additional high-grade ore into our production profile and diversify the company’s production across the Laverton Hub,” Rovira said.
"We look forward to working with all stakeholders in the Laverton district to deliver a step change in Brightstar’s production profile.”
At Fish, Brightstar has commenced site works, including haul road maintenance and preparation, and early works for camp and site establishment for which all approvals are in place.
Key capital works related to site establishment to facilitate mining at Fish is expected to deliver material synergies to future potential development of the Lord Byron open pit operation, currently subject of the company’s Laverton-Menzies DFS.
Becoming multi-asset producer
"Contemporaneous with the gold production from our Laverton Hub via the OPA, DFS work continues apace on Brightstar’s Menzies and Laverton assets that will position Brightstar to become a multi-asset gold producer across multiple mines and locations,” Rovira said.
"Additionally, our geology team is focused on the +55,000-metre extensional and infill drilling program at the Sandstone Gold Project, striving to rapidly grow and improve the existing 1.5-million-ounce at 1.5 g/t gold mineral resource and move that asset through the development pathway towards production opportunities.”