Brightstar kicks off maiden Laverton gold pour

Brightstar Resources has started a gold processing campaign with the company’s maiden gold pour expected this week from gold-bearing ore hauled to Genesis Minerals’ Laverton mill.

Brightstar is hauling ore from its high-grade Second Fortune underground mine and existing lower-grade open pit stockpiles at its Lord Byron mine under an ore purchase agreement.

An estimated 60,000-tonne parcel at a blended grade of 2 grams per tonne (g/t) has been delivered to the Laverton mill for processing.

Management last year originated an ore purchase agreement with Genesis, allowing for up to 500,000t of ore to be processed this year and in the first three months of 2026.

Ore is expected to be sourced from the run-of-mine from its operating Second Fortune underground mine, existing mined stockpiles from its Lord Byron open pit operation at Jasper Hills, along with ore anticipated to be mined in the next few months from its Fish underground project.

The company’s operating Second Fortune underground mine has historical production of an average 10,000 tonnes per month at 3.6g/t and is estimated to contribute 12,000 ounces to 15,000 ounces of gold in the campaign.

The Second Fortune mine contains a mineral resource of 165,000t at a superb grade of 10.9g/t gold for 58,000 ounces.

The Fish underground mine is expected to contribute a total 188,000t of ore, which is categorised within the measured and indicated categories of the resource at an expected 4.4g/t to produce 26,000 gold ounces across the next 13 months.

First blast firing at Fish to begin the development of the portal and the underground decline for access is scheduled for April, with material expected to be accessed within six weeks.

Fish also has a JORC-compliant resource estimated at 225,000t at a stellar 5.7g/t gold for 41,000 ounces.

Stockpiles at Lord Byron comprise about 200,000t going 1g/t gold. Brightstar estimates the mine will add a further 6000 ounces of the booming commodity to the production mix.

The commencement of production and cash flow this year is a major milestone for Brightstar as we continue to ramp up gold production and mining operations. Second Fortune production will soon be complemented by Brightstar’s second underground mine, Fish, once it is in production from April.

The company expects to deliver regular ore parcels to the mill for processing throughout the term of the ore purchase agreement. It estimates the continual cash flow received across the next 12 months will support its aggressive development and exploration plans across the company’s Menzies, Laverton and Sandstone hubs.

Brightstar plans to update the market on the first processing parcel’s recovered ounces following final reconciliation within the next four weeks.

In the interim, mining and haulage are continuing towards delivering a second parcel of ore.

Management indicates it is pushing full steam ahead with its exploration activities, planning to drill more than 100,000 metres with a reverse circulation rig at Sandstone and a further rig at its Cork Tree Well.

A definitive-feasibility study is nearing completion for its wider Laverton-Menzies development and is expected to outline the company’s multi-mine development strategy to grow production in the near term.

The company remains both hedge-free and debt-free and is ideally placed to benefit tremendously from its full exposure to the existing high gold price.

With the price continuing to boom at elevated levels near $4600 per golden ounce in good-old Aussie dollars, Brightstar is in an enviable position to cash in on the ore purchase agreement with Genesis due to the excellent gold grades within its Second Fortune and Fish underground projects.

Is your ASX-listed company doing something interesting? Contact: matt.birney@wanews.com.au