TIDMEST
RNS Number : 6452A
East Star Resources PLC
04 February 2022
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4 February 2022
East Star Resources Plc
("East Star" or the "Company")
Award of Drilling Contract
East Star Resources Plc (LSE:EST), the Kazakhstan-focused gold
and copper explorer, is pleased to announce the award of a diamond
drilling contract to IG Copper and Gold Kazakhstan ("IGKZ") for
5,000 metres of drilling this year focused initially on the
Apmintas and Dalny Licences in the Chu-Ili orogenic gold belt of
central Kazakhstan.
IGKZ is a wholly owned subsidiary of IG Global Group (IGG),
which holds direct and indirect interests in companies that
specialise in various disciplines across the spectrum of the mining
industry including mineral exploration, drilling, and mine
development, with projects and clients in the United States, the
Russian Far East, and Kazakhstan.
Alex Walker, East Star CEO, commented:
"We are delighted to be working with IGG on this 2022 drill
programme. They have extensive experience working in Kazakhstan and
other CIS countries not only as an operator but as an extremely
successful explorer. The quality of the geological team that will
support the drilling operators cannot be underestimated and the
extra checks and balances this provides will ensure East Star
conducts the most efficient and thorough exploration programme
possible.
"Diamond drilling is expected to provide an enhanced picture of
the various orebodies, including the extent of disseminated ore,
and their orientation and to allow the Company to test targets at
depth, potentially adding scale and longevity to future operations.
Furthermore, by using diamond core, work can be undertaken on the
minerology and metallurgy including conducting 'gravity recovered
gold' testing to begin establishing a processing route for eventual
production."
IG Global Group Background
IGG was founded in 2010 by Thomas E. Bowens, a Certified
Professional Geologist, with degrees in Economics, Geological
Engineering (Magna Cum Laude) and a master's degree in Geology
(Colorado School of Mines). Since inception IGG has made two
greenfield discoveries: the Svetloye High Sulfidation Epithermal
Gold Deposit containing 1.3 million ounces of gold, which was sold
to Polymetal Corp. in 2009 and the world class Malmyzh Copper-Gold
Porphyry Deposit containing in excess of 7.2 million tonnes of
copper equivalent metal. The deposit was sold to Russia Copper
Company in 2018 for $200 million. In Russia's Far East, IGG is
developing the Durmin gold and silver deposit, while also exploring
the property for another potential major copper-moly-gold
deposit.
The drilling will be managed by Volodymyr Buchynskyy, IGG's
Chief Geologist for Eurasia with oversight from Steven McRobbie,
IGG's VP of Exploration. Mr Buchynskyy is a Professional
Geoscientist with 25 years of mineral exploration experience
working in Canada, Russia and Kazakhstan for major companies
including BHP Billiton, where he headed the Kazakh branch managing
porphyry copper exploration projects; Kazakhmys Exploration, where
he led a group of over 400 employees and was responsible for
overall management of exploration and drilling for brownfield
exploration programmes in Kazakhstan; and Freeport McMoran where he
was Regional Exploration Manager for Eurasia. Mr McRobbie has 30
years' experience as a professional exploration and project
director on gold, base metals, diamond, and uranium projects. Mr
McRobbie was a key leader in the evaluation team for Kazakhmys
Projects which took the Bozshakol and Aktogay Copper Porphyry
Deposits in Kazakhstan through feasibility studies and into
development. He was also involved in the due diligence and
subsequent evaluation of Koksay Copper Porphyry in Kazakhstan as
Exploration Manager for KAZ Minerals Project Group.
For further information visit the Company's website at
www.eaststarplc.com , or contact:
East Star Resources Plc
Alex Walker, Chief Executive Officer
Tel: +44 (0)20 7390 0234 (via Vigo Consulting)
Peterhouse Capital Limited (Corporate Broker and Placing
Agent)
Duncan Vasey / Lucy Williams
Tel: +44 (0) 20 7469 0930
Vigo Consulting (Investor Relations)
Ben Simons / Oliver Clark
Tel: +44 (0)20 7390 0234
About East Star Resources Plc
East Star Resources is focused on the discovery and development
of gold, copper, and base metal deposits in Kazakhstan. With an
initial four licences covering 1,432 km(2) in two mineral rich
belts, East Star is undertaking an intensive exploration programme,
applying modern geophysics to discover gold, copper, and base
metals in levels that were not explored in the Soviet era. The
Company also intends to expand its licence portfolio in Kazakhstan.
East Star's management are based permanently on the ground,
supported by local expertise, and a joint venture with the state
mining company.
Follow us on social media:
LinkedIn:
https://www.linkedin.com/company/east-star-resources/
Twitter: https://twitter.com/EastStar_PLC
The person who arranged for the release of this announcement was
Alex Walker, CEO of the Company.
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