Maiden gold pour completed at Menzies

The first gold bars have been poured at Brightstar Resources’ (ASX: BTR) Menzies gold project in WA.

This gold pour marks Brightstar’s first gold from the Selkirk joint venture. Brightstar has a 50:50 profit sharing joint venture with BML Ventures to exploit the Selkirk deposit at Menzies which has a mineral resource estimate of 11,500oz at 2.15g/t gold.

BML is responsible for all capital costs, mining and haulage, and the joint venture has a toll treating agreement with St Barbara (ASX: SBM) to process ore from Selkirk at Leonora.

Brightstar managing director Alex Rovira says the company is thrilled with the maiden gold pour.

“We are thrilled to announced Brightstar’s inaugural gold pour from the Menzies gold project, with 38.7kg of gold doré poured yesterday at the Gwalia gold plant,” he said.

“Our joint venture partner, BML Ventures, has confirmed that all ore has been hauled to Gwalia, with project and fleet demobilisation both progressing on schedule.

“We anticipate several more gold pours over the next few weeks, and look forward to updating the market with finalised cashflow updates once all gold revenue and project costs have been finalised for the Selkirk mining joint venture.”

Processing and gold pours are continuing with 50% of net project cashflows to be generated and distributed to Brightstar upon final reconciliation.

The Menzies gold project covers a continuous land package over a 15km-long strike length and within the project lies a series of structurally controlled high-grade gold deposits.

While modern exploration has been limited, historical production of 643,200oz at 22.5g/t gold and 145koz at 2.6g/t gold has been achieved.