BrightStar Resources: new gold discovery at Miyabi shows potential to add to 520,000oz resource base 

(MENAFN - ProactiveInvestors - Australia) BrightStar Resources (ASX: BUT) has confirmed the potential for the Dalafuma Prospect, part of the Miyabi Gold Project in Tanzania, to host a major high grade gold deposit following a successful reverse circulation drilling campaign.

A stage two drilling program has unearthed a new zone of high grade, near surface gold mineralisation that has yielded up to 39.8 grams per tonne (g/t) gold.

The most notable intersection was 18 metres at 18.3g/t gold from 45 metres, including 6 metres at 39.8g/t.

Other highlights include 6 metres at 4.1g/t from 75 metres, 6 metres at 2.7g/t from 12 metres, and 9 metres at 2.9g/t from 15 metres.

Importantly, drilling has defined the continuity of a previous broad, high grade intersection of 21 metres at 6.07g/t completed in 2011.

Further exploration upside exists with the newly discovered zone open along strike and down dip.

The open pit potential is also evident with the gold mineralisation interpreted to extend to within 5 metres of the surface, which bodes well for the economics of the Miyabi Project.

Miyabi hosts a total JORC Resource of 12.4 million tonnes at 1.3g/t for 520,000 ounces of contained gold, of which 71%, or 370,000 ounces, is in the higher confidence Indicated category.

BrightStar is planning further holes at the Dalafuma Prospect and follow up drilling has already begun.


Miyabi Joint Venture

The Miyabi Project is a joint venture with UK-based African Eagle Resources, under which BrightStar may earn up to 75% of the project.