TIDMEST
RNS Number : 6561X
East Star Resources PLC
31 August 2022
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31 August 2022
East Star Resources Plc
("East Star" or the "Company")
Rock Chip Results, Rudny Altai, Kazakhstan
East Star Resources Plc (LSE:EST), the Kazakhstan-focused gold,
rare earths and copper explorer, is pleased to announce the results
of analysis of rock chips collected across the Company's five
volcanogenic massive sulphide (VMS) Rudny Altai belt licences from
geological reconnaissance conducted in June 2022 .
Highlights:
-- Exceptionally high grades of 17.3% Cu, >10% Pb, 0.4% Zn,
0.37g/t Au and 121.5g/t Ag in rock chips from Talovskaya - an
historic mine which operated in 1775, 1782-1783 and 1892-1896
-- 4.8% Cu and 29.2 g/t Ag in rock chips from Verkhubinskoye - a
deposit which reported non-compliant resources with contained
metals of 136,500 t Cu, 24,810t Pb and 173,500 t Zn
-- 0.82% Cu, 1.35% Pb and 5.7 g/t Ag in rock chips from
Rulyevskoye - an historic gold mine with quartz vein and
tourmaline-quartz vein mineralisation which operated in
1938-1940
Alex Walker, East Star CEO, commented:
"Our rock chip analyses verify and provide additional geological
context to historical data, confirming the rich nature of these
targets. The Talovskaya target for example was originally mined in
1775 with the last mining taking place in 1896 and the last
exploration in 1992. The rock chips collected equate to more than
22% CuEq and although it's difficult to know what remains at this
target, it is similar to the historical run-of-mine grade and is a
further indication of its potential to host un-depleted ore
bodies.
The sheer number of now verified targets confirm what we have
been hoping to deliver to East Star shareholders: significant
optionality on a number of potential company-making
discoveries.
We intend to conduct further work focussed on the highest ranked
targets in September. We have ordered additional historical reports
and continue to process the electromagnetic data for final
targeting before drilling, expected to be in H1 2023."
Figure 1 Selected rock chip results in purple showing
mineralisation in a number of potential exploration areas
Sample Types and Locations
In June 2022, the Company's geological team conducted
reconnaissance visits to historical mines and occurrences within
the Company's five licences on the Rudny Altai belt. Rock chip
samples were taken and analysed by ICP-MS (see table 1). Samples
were collected from surface with specific sampling strategies
determined by the nature and extent of outcrop, with some
mineralised targets showing poor outcrop.
Amongst many anomalous results, very high base metal
concentrations were recorded in samples from Talovskaya and
Verkhubinskoe. These targets will be prioritised for further
follow-up based on electromagnetic data and geological mapping to
eventually produce drill targets.
Table 1: Highlights from June 2022 reconnaissance mapping and
rock chip sampling on East Star's licences in Rudny Altai and
ICP-MS assay data
Name Description based on Sample Description Cu Pb Zn Au Ag
historical report
and site visit
---------------- ----------------------------- ------------------------------
% % % g/t g/t
---------------- ----------------------------- ------------------------------ ------ ------ -----
Found in 1775 as a group of
small lenses
of Cu-pyrite and Cu-Zn
ores. It was Basalt sill with malachite
mined in 1775, 1782-1783 vugs and veinlets from
Talovskaya and 1892-1896. a pit. 17.35 >10.0 0.4 0.37 121.5
----------------------------- ------------------------------ ------ ------ ----- ------
Found in 1966. Zn is
0.05-3.3%, Cu
is 0.05-3.76%, Pb is
0.05-1.14% in Rhyodacitic tuff or granite
sedimentary rock and acid porphyry with weak phyllic
volcanics. alteration and secondary
There are 6 lenses (1-58m pyrite and chalcopyrite
Solonovskoye thick) up alteration taken from
occurrence to 760m length. outcrop. 0.04 0.16 0.10 <0.10 <1
----------------------------- ------------------------------ ------ ------ ----- ------ ------
Found in 1955 in phyllic
altered sedimentary
rocks and acid volcanics
along their
contact. There are 2 zones:
1 zone
is 10-14m thick with a
strike length
up to 80m. Zn is up to 5%,
Cu is up
to 15%, Pb is up to 0.1%
(borehole
1); Second zone is 6m x
150m. Zn is
up to 5%, Cu is up to 0.2%,
Pb is up
to 1%. There are many small
zones 1-4m
thick: Zn is up to 1.37%,
Cu is up
to 1%, Pb is up to 0.57%
Teplushinskoye (borehole Oxidised quartz-pyrite
occurrence 339) vein taken from subcrop. 0.14 0.08 0.12 0.34 16.1
----------------------------- ------------------------------ ------ ------ ----- ------ ------
Found in 1949 (vein type)
and 1988
(skarn type). Total length
is up to
1,500m. There are all
combinations
of pyrite, chalcopyrite,
galena and
sphalerite. Historically
described
"Proved reserves" are
136,500t of Cu,
24,810t of Pb and 173,500t
of Zn. Tuffaceous siltstone
Northern zone: Cu and sandstone with
2.5-17.5%; Pb 1.25-14.34%; brecciation
Verkhubinskoye Southern zone: Cu 0.2-1.8%; and malachite veinlets
(Pb-Zn-Cu) Pb 3.36%. taken from a mining shaft. 4.82 0.02 0.03 <0.10 29.2
---------------- ----------------------------- ------------------------------ ------ ------ ----- ------ ------
Tuffaceous siltstone
and sandstone with pyrite-quartz
veins and oxidation taken
from an open pit. 0.16 0.04 0.0 <0.10 <1
----------------------------------------------------------------------------- ------ ------ ----- ------ ------
Quartz veins and
tourmaline-quartz
veins with gold. Mined in
Rulyevskoye 1938-1940.
occurrence Gold grade is less than Waste rock with quartz
67 that at Polevayevskoye. remnants. 0.01 0.01 0.0 <0.10 <1
---------------- ----------------------------- ------------------------------ ------ ------ ----- ------ ------
Quartz block with Fe
oxides in a trench. 0.82 1.35 0.02 <0.10 5.7
----------------------------------------------------------------------------- ------ ------ ----- ------ ------
Sericite-quartz slates
with quartz veinlets
and schistosity in a
pit. 0.01 0.01 0.0 <0.10 <1
----------------------------------------------------------------------------- ------ ------ ----- ------ ------
Found in 1862. A vein type
of sulphide
and quartz-sulphide ore
body, located
inside geological formation
of massive
sulphide ores. Disseminated
sulphides
have been redeposited and
later enriched
during intrusive and
tectonic activity.
All ore bodies are
controlled by faults
perpendicular to the strike
of bedding.
Zn is up to 2.92%. Cu is
1.55-14.61%. Rhyodacitic lapilli tuff
Pb is up to 0.33%. Au 0.5 with strong phyllic
g/t. Mining alteration
Chudak stopped in 1890. in outcrop. 0.02 0.01 0.05 <0.10 <1
---------------- ----------------------------- ------------------------------ ------ ------ ----- ------ ------
Rhyodacitic lapilli tuff
with strong phyllic alteration
in outcrop. 0.24 0.32 0.09 <0.10 1.8
----------------------------------------------------------------------------- ------ ------ ----- ------ ------
Mineralisation is related to
local
epidote and limonite
alterations in Magnetite skarn with
Mineralisation plagioclase porphyry. Zn is malachite veinlets taken
point 33 0.12-0.32%. from a trench. 0.02 0.07 0.85 <0.10 <1
---------------- ----------------------------- ------------------------------ ------ ------ ----- ------ ------
Rudny Altai Region
East Star's VMS licences (the "Licences") are located in the
Rudny Altai region of Eastern Kazakhstan. Administratively, the
Licences are within the Shemonaikha district and are
extraordinarily well connected to infrastructure. The regional
centre of Ust-Kamenogorsk is located 45 km, and its international
airport is located 35 km, southeast of the Licences. The railway
connecting Ridder and Tomsk cities crosses the Licences from the
south to the northwest with two railway stations located on the
territory of the Licences. There is a network of dirt roads within
the Licences that are suitable for driving all year round. A
hard-surfaced road from Ust-Kamenogorsk to Shemonaikha crosses the
western part of the Licences.
The area is characterised by moderately hilly terrain with
elevations ranging between 270m and 630m above the mean sea
level.
The Rudny Altai region is one of the largest VMS provinces in
the world, part of Central Asian Orogenic belt. According to a
mineral map, published in the 1960s, the Licences contain more than
20 mineral occurrences (including Cu, Pb, Zn, Au, W) and a
significant amount of soil and stream sediment anomalies.
Table 2: Summary of tonnages and grade for some of the known
deposits around the Company's licences in Rudny Altai.
Name (Mt) Cu Pb Zn Au Ag
(%) (%) (%) (g/t) (g/t)
Tishinskoye 60 0.5 0.9 5.3 0.9 15
----- ----- ----- ----- ------- -------
Grekhovka 59 0.4 1.4 2.8 0.1 20
----- ----- ----- ----- ------- -------
Novo-Leninogorsk 53.4 0.16 1.43 4.04 1.54 32.8
----- ----- ----- ----- ------- -------
Artemyevsky 51.3 1.88 1.97 6.39 1.17 115
----- ----- ----- ----- ------- -------
Maleevsky 50 2.3 1.3 7.5 0.75 75
----- ----- ----- ----- ------- -------
Orlovskoye 48 4.7 0.9 3.2 0.8 47
----- ----- ----- ----- ------- -------
Novo-Zolutushinskoye 48 4.7 0.9 3.2 0.8 47
----- ----- ----- ----- ------- -------
Nikolayevskoye 40.3 2.4 0.43 3.24 1.13 48.3
----- ----- ----- ----- ------- -------
Irtysky 30 2.16 0.71 5.12 0.37 82.1
----- ----- ----- ----- ------- -------
Belousovskoye 30 1.1 1.15 4.74 0.38 51.3
----- ----- ----- ----- ------- -------
Korbalikha 25 1.46 2.01 9.81
----- ----- ----- ----- ------- -------
Dolinnoye 22 0.43 0.5 1 2.67 13.7
----- ----- ----- ----- ------- -------
Kamyshinskoye 15 2.64 1.05 2.77
----- ----- ----- ----- ------- -------
Rulikha 14.3 1.18 0.44 3.58 0.28 13.5
----- ----- ----- ----- ------- -------
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 / Tara Benniman / Peter Jacob
Tel: +44 (0)20 7390 0234
About East Star Resources Plc
East Star Resources is focused on the discovery and development
of gold, rare earth, and copper deposits in Kazakhstan. With an
initial nine licences covering 1,687 sq km in three mineral rich
districts, East Star is undertaking an intensive exploration
programme, applying modern geophysics to discover minerals in
levels that were not previously explored. The Company also intends
to further expand its licence portfolio in Kazakhstan. East Star's
management are based permanently on the ground, supported by local
expertise, and joint ventures with the state mining company.
Follow us on social media:
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East Star releases news: www.eaststarplc.com/newsalerts
The person who arranged for the release of this announcement was
Alex Walker, CEO of the Company.
Competent Persons Statement
Information and data presented within this announcement has been
compiled by Mr Azamat Bizhanov, a Member of the Australian
Institute of Geoscientists ("MAIG"). Mr Bizhanov is the Exploration
Manager for East Star Resources Plc and has sufficient experience,
which is relevant to the style of mineralisation, deposit type and
to the activity which he is undertaking to qualify as a Competent
Person defined by the 2012 Edition of the Australasian Code for
Reporting Exploration Results, Mineral Resources and Ore Reserves
(the "JORC" Code). This includes 10 years of Mining, Resource
Estimation and Exploration relevant to the style of
mineralisation.
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