29 October 2024
East Star Resources
Plc
("East Star" or the
"Company")
Commencement of IP Programme
in the East Region
East Star Resources Plc (LSE:EST), which is exploring for copper in Kazakhstan, is
pleased to announce that it has commenced an Induced Polarisation
("IP") geophysical survey on its Rudny Altai Volcanogenic Massive
Sulphide ("VMS") Licences in East Kazakhstan.
The programme will include up to
17.3-line kilometres of IP geophysics over four targets, which have
already demonstrated the required geological indicators of a
potential deposit, including mineralisation at surface. The
programme is already underway and will continue as long as weather
permits.
Alex Walker, CEO of East Star,
commented:
"In the 2023 and 2024 field season, the East Star team has
been diligently working through targets derived from the
electromagnetic survey conducted in 2022, incorporating a
significant amount of historic data, new geological mapping, and
sampling results. We have been extremely encouraged by the sheer
number of mineralised points in this region, particularly where
they coincide with an electromagnetic anomaly and are in close
proximity to known deposits as well as past and current operating
mines. We expect the IP results to provide definitive drill collar
locations to begin drill testing these targets with the intention
of adding further resources to our existing 20.3Mt at the Verkhuba
deposit."
Figure 1 locations of
intended IP survey lines
Target
Locations
Rulikha
The Rulikha target is a newly discovered
electromagnetic ("EM") and IP anomaly located 1 km north of the
Rulikha Deposit, a historical defined deposit of 14.2 Mt @ 1.18%
Cu, 3.58% Zn and 13.5 g/t Ag[1], partially
located on East Star's 100% owned licence, EL_1799. The target is
hosted in a strongly altered quartz porphyry unit of the middle
Devonian series, which is a similar age to units hosting the
Nikolaevsky Mine. The target has a strong EM conductor that had
dipole-dipole IP ground surveys completed in 2023. The surveys
revealed a number of strong IP signatures at 120-250 m depth that
were interpreted to be massive sulphides. The unit that the IP and
EM anomalies are hosted in has known Zn-Cu mineralisation 700
metres to the north, in historical drill holes used for
stratigraphy. East Star completed mapping and spectral sampling
over the target area. The spectral analyses showed muscovite and
jarosite alteration, which are indicators of hydrothermal
alteration. East Star intends to progress the target to be drill
ready by extending the IP survey to the east to further define the
anomaly.
Talovskoye
The Talovskoye deposit is located 1.7 km north
of the Rulikha target. The prospect historically reported
resources of 3.9 Mt @ 1.87% Cu, 5.4% Pb, 11% Zn, 0.3 g/t Au and
34.5 g/t Ag[2]. The historical deposit is
hosted in sediments and volcaniclastics of the Loshinskaya Suite,
which is significant because this suite of rocks is host to the
Verkhuba deposit and at least two other deposits in the region.
Talovskoye has been explored through some small-scale adits, which
penetrate the hill that the deposit is hosted in. The deposit has
had some 15 historical holes which tested the central part of the
deposit. Historical reports noted a strong EM conductor south east
of the deposit that has not been tested before. As announced on 27
November 2023, geological sampling completed by East Star found
6.30% Cu, 5.19% Pb, 0.81 g/t Au and >100g/t Ag and 8.44% Cu,
>20% Pb, 1.1 g/t Au and > 100 g/t Ag in samples at
surface.
Rulevskoye
The Rulevskoye occurrence is a historically
known copper occurrence located in the middle Devonian series and
is comprised of volcanic breccias, tuffs, and quartz porphyry
lithologies. East Star has mapped the area and collected spectral
samples. Mapping revealed copper-iron oxide mineralised bodies with
several small pits and trenches across them. These were used as the
basis for historical drilling. In total, nine holes were drilled on
the flanks of the hill and two drilled in the south on top of the
hill. Historical holes '8' and '172' intersected sulphides
including up to 5.25% Cu and 7.4m @1.8% copper[3] respectively.
Nikolaevskoye East
The Nikolaevskoye East area is host to an EM
anomaly in a geologically prospective part of the area. Geological
mapping in the area noted sedimentary lithologies with some
volcanic clasts and sericite alteration. Within the unit there are
known mineralised occurrences at surface and in historically dug
pits and trenches. The EM anomaly strikes approximately 900 m from
NW-SE.
Next
Steps
After a standard tender process, Aurora
Geophysics Ltd. has been contracted to complete the IP surveys,
with the results being processed and analysed by Mitre Geophysics
Pty Ltd. The Company looks forward to updating shareholders on its
progress.
East Star
Resources Plc
Alex Walker, Chief Executive
Officer
Tel: +44 (0)20 7390 0234 (via Vigo
Consulting)
SI
Capital (Corporate Broker)
Nick Emerson
Tel: +44 (0)1483 413 500
Peterhouse Capital Limited (Corporate
Broker)
Peter Greensmith
Tel: +44 (0) 20 7469 0930
Vigo Consulting (Investor Relations)
Ben Simons / Peter Jacob
Tel: +44 (0)20 7390 0234
About East
Star Resources Plc
East Star Resources is focused on the discovery
and development of strategic minerals required for the energy
revolution. With eight licences covering >1,000 km² in three
mineral rich districts of Kazakhstan, East Star is undertaking
an intensive exploration programme, applying modern geophysics to
discover minerals in levels that were not previously explored. East
Star's most advanced project is a copper deposit on the world-class
Rudny Altai VMS Belt where the Company is working towards the
delivery of a JORC compliant open pit copper resource close to
infrastructure, within trucking distance of third-party mills with
excess capacity. East Star's management are based permanently on
the ground, supported by local expertise, a joint venture with the
state mining company on certain projects, and grant funding from
BHP through the BHP Xplor programme for copper porphyry
exploration.
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The person who
arranged for the release of this announcement was Alex Walker, CEO
of the Company.
This announcement contains inside information
for the purposes of Article 7 of Regulation 2014/596/EU which is
part of domestic UK law pursuant to the Market Abuse (Amendment)
(EU Exit) Regulations (SI 2019/310) ("UK MAR"). Upon the
publication of this announcement, this inside information (as
defined in UK MAR) is now considered to be in the public
domain.
Competent Person's Statement
Scientific or technical information
in this disclosure related to exploration was reviewed by Dr
Tremain Woods, a full-time employee of Discovery Ventures
Kazakhstan Ltd, a 100% owned subsidiary of East Star Resources PLC.
Dr Woods is a member in good standing with the Geological Society
of South Africa. He has sufficient experience that is relevant to
the commodity, style of mineralization or type of deposit under
consideration and activity which he is undertaking to qualify as a
Competent Person under the JORC code (2012 Edition).