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BRIGHT STAR RESOURCES LTD

ASX: BUT

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Description

Now named Rift Valley Resources (ASX: RVY)

BrightStar Resources Limited was an exploration company focused on gold exploration in the rich Lake Victoria Goldfields of Tanzania. We have a solid resource base of 680,000 attributable ounces and excellent exploration targets.

Our latest project is the Miyabi Gold Project where we are earning up to 75% by funding exploration and evaluation. The project has a Mineral Resource of 520,000oz and excellent exploration targets.

At the 100% owned Kitongo Gold Project, we are exploring to add to the 290,000oz Mineral Resource and to test other exciting exploration targets on the property.

The country of Tanzania has a strong, modern gold mining industry and hosts a number of large gold mines. It is Africa's third largest gold producer behind South Africa and Ghana. BrightStar has planned a substantial exploration program utilising an experienced crew of local geologists and field technicians.

MIYABI GOLD PROJECT, TANZANIA (BrightStar Earning 75%)

20,000oz gold resource with little drilling below 100m
Good potential for depth and strike extensions
Exciting regional exploration opportunities defined by geophysics and sparse drilling
252km2 of contiguous tenements
Earning 75% from UK based African Eagle Resources plc
Better intersections from previous exploration drilling include:
MBDH-05 11.3m at 6.5g/t Au
MBDH-16 25.1m at 6.4g/t Au
MBRC-099 51m at 2.4g/t Au
MBRC-235 57m at 6.5g/t Au
MBRC-249 21m at 6.0g/t Au

The Miyabi Project is located approximately 200km southwest of Mwanza in the Lake Victoria Goldfields of Tanzania. It is approximately 60km west of African Barrick Gold's operating Buzwagi mine, and approximately 30km south of Resolute Mining Limited's Nyakafuru project. The Project is some 150km southwest of BrightStar's Kitongo Gold Project. The tenement holding is 252km2.

KITONGO GOLD PROJECT, TANZANIA

290,000oz gold resource with excellent potential for depth and strike extensions
High grade prospects defined by RC and RAB drilling
Exciting regional exploration opportunities
128km2 of contiguous tenements

The Kitongo Project is located in the Lake Victoria Goldfields region of Tanzania, 90km south of the mining service centre of Mwanza. Access is via bitumen and unsealed roads. Several multi-million ounce gold projects occur in the region, including African Barrick Gold's Bulyanhulu, Buzwagi and Nyanzaga projects; Anglogold Ashanti's Geita project, and Resolute's Golden Pride project.

MAJI MOTO, TANZANIA

The Maji Moto Project is located in the northwest of Tanzania, approximately 200km northeast of the city of Mwanza. It consists of two non-continuous licence areas with a combined area of 38.5km2. The project is located within the Musoma-Mara greenstone belt which hosts African Barrick Gold's North Mara Gold Mine.

Soil sampling has defined two zones of +200ppb gold anomalism which coincides with scattered artisanal workings. A program of aircore drilling was completed in 2008 to test the main geochemical and structural targets. The drilling was inconclusive and further assessment of the data is warranted to determine if the workings relate to substantial bedrock gold mineralisation.

NYANGOMBE, TANZANIA

The Nyangombe Project is located in the northwest of Tanzania, approximately 85km southwest of the city of Mwanza. It consists of three PL's with an area of approximately 50km2. The project is located within Archaean greenstone lithologies and is approximately 5km north of African Barrick Gold's Golden Ridge project.

Partially outcropping BIF and volcanic lithologies on the western portion of the licence area have been sampled by rock chip, trenching and soil sampling. Weak gold anomalism was defined in area. The eastern portion of the tenement is covered by a considerable thickness of transported regolith. Soil sampling is considered ineffective and further work is required to properly explore the area which has prospective lithologies and structure.

MICLERE, QUEENSLAND

The Miclere Project is located approximately 30km northwest of Clermont in Central Queensland. It is centred on the historic Miclere, Black Ridge and Springs Goldfields on the southeast margin of the late-Proterozoic aged Anakie Inlier. The Miclere Project consists of 17 granted Mining Leases (ML) and two Exploration Permits for Minerals (EPM).

Gold has been mined from shallow surface workings and from underground workings in the Miclere, Black Ridge and Spring goldfields with total production of approximately 100,000 ounces.

The targeted gold mineralisation is interpreted to be a modified placer similar to the Witwatersrand Basin of South Africa with gold occurring as particles within conglomerates and other sediments unconfomably overlying the basement rocks of the Anakie Inlier. Exploration work carried out to date includes surface drilling, as well as development of a 500m long decline to a depth of 65m. Bulk sampling of the sediments from this development returned 2,000 ounces from a 20,000 tonne parcel with a nominal back-calculated grade of 3g/t Au.

There is demonstrated potential for large scale placer type gold mineralisation at the project. The Project is also considered prospective for hard rock gold and base metal mineralisation. BrightStar plans to divest the project to concentrate on the more advanced Kitongo Project in Tanzania.

Mine For

gold

Location of operation(s)

Queensland, Tanzania

Address

U 1, 1 Nairn St
FREEMANTLE, WA, Australia

Phone

(61 8) 9430 9965

Email

Website


Last Updated

12/5/2011

 

The data on Australian Shares.com is intended as a guide only and is provided purely as an indication of what information can be found through official announcements. Data on this website should not be used to make an investment or trading decision. All information should be carefully cross-checked against official sources for accuracy. The publisher (Intaanetto Pty Ltd) will not be held liable for any loss arising from the use of this website.