12 August 2024
East Star Resources
Plc
("East Star" or the
"Company")
Copper Porphyry Exploration
Update: Completion of Soil Sampling
East Star Resources Plc (LSE:EST),
which is exploring for copper in Kazakhstan, is pleased to provide
an update on exploration at the Ayagoz and Snowy licences on the
Balkash-Ili magmatic arc, which are prospective for copper porphyry
deposits. Exploration has initially been funded by the US$500,000
BHP Xplor grant.
Highlights:
·
Soil sampling and spectral analysis of 2,800
samples completed
·
Multi-element Inductively Coupled Plasma Mass
Spectrometry ("ICP-MS") assays are underway
·
Satellite multispectral imagery clearly defines
hydrothermal alteration around the lithocap - consistent with that
found proximal to other porphyry examples elsewhere in the
world
·
Lithocap samples were also collected for
multi-element geochemistry
Chris van Wijk, East Star's Technical Director,
commented:
"We are really impressed with the speed and quality of the
work our team and contractors have completed. The work programme
has taken less than two months, with a total of 2,800 samples
collected which have already received spectral
analysis. When combined with the geochemistry results, we will have
a detailed map of the area, inferring the depth of the porphyry
target. The soils will also assist with the assessment of the
historical artisanal gold mines around Snowy and their potential to
contain larger epithermal gold deposits. The geochemical results
from these two programmes will dictate the follow-on work programme
and provide information that will assist in targeting throughout
the rest of this proven mineral belt."
Systematic
Soil Geochemistry and Lithocap Sampling
A recent site visit to the Ayagoz licence was
undertaken in order to sample the outcropping silica lithocap.
Several field traverses along the ridge lines of the lithocap were
completed, and 25 rock chip samples were collected for spectral
analysis and multi-element geochemistry. In addition to this
programme, 1,160 soil samples have been collected and analysed
using a combination of low detection multi-element geochemistry (by
ICP-MS) and hyperspectral analysis using a spectral
analyser.
At Snowy, 1,640 soil samples have been
collected and have undergone both spectral analysis and low
detection multi-element geochemistry (by ICP-MS).
Multi-Spectral
Analysis
Work has also been undertaken over the licence
areas to understand the regional spectral response using ASTER
data. As expected, the silica lithocaps, which are visible at
surface, have strong multi-spectral signatures in ASTER data, which
indicate a high degree of hydrothermal alteration and weathering,
consistent with that found proximal to other porphyry examples
elsewhere in the world. Figures 1 and 2 below show the KLI Index
over the Ayagoz and Snowy licences respectively. KLI Index is a
composite band index designed to highlight the Kaolin group of
minerals which are the end-product of hydrothermal alteration and
are expected in highly altered, leached lithocaps such as Ayagoz
and Snowy. The image is useful at delineating the size and extent
of the lithocap and the potential mineralogy, which will be further
refined using the spectral data once available.
The understanding of the lithocap environment
is crucial in porphyry exploration. Lithocaps are the direct
product of intrusive systems such as copper and gold porphyries and
are the relic of the hot and highly acidic hydrothermal fluids
emanating from the intrusive system as it is emplaced and cooled
down. As these hot, acidic fluids pass through the rock, they alter
the minerals and selectively enrich or deplete certain pathfinder
elements. As a result, porphyry systems are consistently and
predictably zoned, both in terms of mineralogy and their associated
pathfinder geochemistry. The current geochemistry and spectral
analysis work is aimed at understanding the zonation within the
lithocap which allows the company to infer the depth to the
porphyry target.
Figure 1 - Ayagoz
licence with KLI index generated from ASTER data.
Figure 2 - Snowy
licence with KLI index generated from ASTER data.
Regional Setting
The licences are located on the paleozoic
Balkash-Ili volcanic arc. The Balkash-Ili arc is known to host
multiple copper and gold rich porphyry and skarn deposits with the
best-known examples including Kounrad (~650Mt @ 0.59% Cu), located
145 km south of Snowy, and Aktogai-Aidarly (~2.5Bt @
0.39% Cu), located some 80 km to the south of
Ayagoz.
The work history of the licences is still being
compiled from archive data; however, the prospects were both
identified during soviet era mapping which shows 'secondary
quartzites' and anomalous copper and gold in several areas around
the licences. 'Secondary quartzites' were a soviet term used to
refer to the residual, leached silica lithocaps which are commonly
associated with porphyry intrusions. These lithocaps are also
clearly identified through analysis of ASTER multispectral data and
have been classified as a mixture of silica and argillic alteration
which has been confirmed by field visits initially carried out in
2023.
Both licences are well served by existing
infrastructure including a railway used to transport concentrate
from the Aktogai mining complex which runs through the south-east
of the Ayagoz licence and a well-maintained gravel road running
from Aktogai in the south to Ayagoz in the north alongside the
railway. The Snowy licence is approximately 35 km east of the main
Almaty-Karaganda highway which is a paved, all weather highway. The
licence is directly accessed by a network of tracks used to
navigate between the regional villages.
Figure 3 - Regional location map.
Copper Porphyry Exploration Strategy
East Star has developed a strategy of regional
target generation for copper porphyry deposits, principally
focussed on the Balkash-Ili magmatic arc, host to the
above-mentioned Kounrad and Aktogai-Aidarly deposits. By applying
modern mineral systems concepts with advanced desktop analytical
techniques and on-the-ground geological confirmation, East Star
intends to secure several more exploration licences within the area
of interest for further field work.
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 delivered a JORC compliant
inferred resource of 20.3Mt @ 1.16% copper, 1.54% zinc and 0.27%
lead 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, which
has now completed, 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.