TIDMEST
RNS Number : 2357T
East Star Resources PLC
14 November 2023
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES
OF ARTICLE 7 OF REGULATION 2014/596/EU WHICH IS PART OF DOMESTIC UK
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14 November 2023
East Star Resources Plc
("East Star" or the "Company")
Verkhuba Copper Drill Results Update
High grade copper and zinc zones confirmed
East Star Resources Plc (LSE:EST), which is defining mineral
resources in Kazakhstan for the energy revolution, is very pleased
to provide an update on the assays from drilling at the Verkhuba
Deposit on the Rudny Altai VMS belt.
Highlights:
-- Multiple zones of massive and disseminated sulphides identified in
logging have now been confirmed to contain high-grade copper
-- 62 samples contained grades above the 1% Cu and 1% Zn detection limits
including Hole VU_23_DD_001 which contained an intersection of 10m
@ >1% Cu and 7.95 g/t Ag from 30.4m
-- Mineralised zones confirm presence of high copper grades, as seen
in historical drilling results
-- Presence of silver in mineralised zones demonstrates potential for
precious metals to be a by-product
-- Results of re-assay of high-grade samples, including gold analysis,
are expected in the next few weeks
Alex Walker, East Star CEO, commented:
"We are absolutely delighted with these initial results which
not only demonstrate the Verkhuba Deposit contains relatively
shallow high-grade copper but also provide credibility to the
>42,000m of historical drill results used in our resource model
- which provided a JORC Exploration Target of 19-23 Mt @ 1.4-1.9%
CuEq.
"Although more work is required, the prospect of East Star being
able to deliver a JORC compliant open pit copper resource right
next to infrastructure and within trucking distance of third-party
mills with excess capacity just got a whole lot closer. Also,
having recently raised capital, the Company is fully funded for
this next phase of delivering value to shareholders."
Next Steps
The Company has sent 62 of 385 samples for re-assay as results
came back above detection limits of 1% for Cu or Zn. Samples sent
for re-assay will also be tested for gold, based on high grade
silver assays in several samples suggesting potential for precious
metal by-products. The results of these assays are expected to be
received in the next few weeks.
Once the final assays are returned and released to the market,
the Company will need to undertake remodelling work using these
results, as well as the data collected during the LIDAR survey,
geological mapping, and borehole surveys, to update the geological
model. A geostatistical analysis of the results against the
historical results will be applied to understand what additional
work is required to progress Verkhuba to a JORC compliant
resource.
East Star Resources Plc
Alex Walker, Chief Executive Officer
Tel: +44 (0) 20 3918 8792
Peterhouse Capital Limited (Corporate Broker)
Peter Greensmith
Tel: +44 (0) 20 7469 0930
SI Capital Ltd (Corporate Broker)
Nick Emerson
Tel: 01483 413500
About East Star Resources Plc
East Star Resources is focused on the discovery and development
of strategic minerals required for the energy revolution. With an
initial nine licences covering 1,321.5 km(2) 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. 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:
LinkedIn:
https://www.linkedin.com/company/east-star-resources/
Twitter: https://twitter.com/EastStar_PLC
Subscribe to our email alert service to be notified whenever
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
The information in this release that relates to Exploration
Results has been reviewed by Mr Mikhail Tsypukov. Mr Tsypukov is a
Fellow of the Institute of Materials, Minerals and Mining (FIMMM,
Reg. No 459707). He has a PhD in geology from A.P. Vinogradov
Institute of Geochemistry Siberian Branch Russian Academy of
Sciences with over 30 years of experience of gold and base metal
exploration in Russia, Kazakhstan, Mongolia, Rwanda and Islamic
Republic of Mauritania.
Mr Tsypukov has sufficient experience that is relevant to the
style of mineralisation and type of deposit under consideration and
the activity being undertaken to qualify as a Competent Person as
defined in 2012 Edition of the "Australasian Code for Reporting of
Exploration targets, Exploration Results, Mineral Resources and Ore
Reserves", also known as the JORC code. The JORC code is a national
reporting organisation that is aligned with CRIRSCO. Mr Tsypukov
consents to the inclusion in the announcement of the matters based
on his information in the form and context in which they
appear.
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