TIDMEST
RNS Number : 4140R
East Star Resources PLC
06 July 2022
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6 July 2022
East Star Resources Plc
("East Star" or the "Company")
Completion of EM Survey on Rudny Altai VMS Licences,
Kazakhstan
East Star Resources Plc (LSE:EST), the Kazakhstan-focused gold,
rare earths and copper explorer, is pleased to announce the
completion of the helicopter electromagnetic ("HEM") survey
conducted over the Company's licences in the prolific Rudny Altai
volcanogenic massive sulphide ("VMS") belt in Eastern
Kazakhstan.
Highlights:
-- 3,640.2-line km flown from 23 May to 21 June 2022
-- Includes 153.5-line km of 100m spaced infill survey over
three target areas with particularly strong electromagnetic
conductors
-- Survey, including additional infill lines, completed within
30 days and significantly under budget
-- East Star has enlisted the services of Australian based Mitre
Geophysics - world leaders in electromagnetic interpretation - to
assist with analysis and targeting
Alex Walker, East Star CEO, commented:
"We are delighted to have identified a number of strong
electromagnetic anomalies, potentially indicating new VMS
discoveries to be made under shallow cover. This is a great example
of East Star applying modern geophysical technology, which has been
used to discover significant VMS deposits elsewhere in the world,
to this prolific but underexplored VMS region of Kazakhstan.
Detailed processing and interpretation of the data to refine
targets for follow up investigation has already begun. Certain
targets align with areas where historic operating mines exist and
where geochemical sampling gave anomalous base metals results, and
this will aid interpretation and identification of drill targets.
We look forward to releasing detailed results of this work in due
course.
The execution of the survey was excellent, with the survey
completing faster, and at a significantly lower cost, than
originally budgeted."
Rudny Altai Region
Licences 847-EL and 914-EL (the "Licences") are located in the
Rudny Altai region of Eastern Kazakhstan. Administratively, the
Licences are within the Shemonaikha district and are well connected
to infrastructure. The regional centre of Ust-Kamenogorsk is
located 45km, and its international airport is located 35km,
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. The region is an
established mining district with a number of active and historical
mines bordering the Company's licence area. Historical mapping
dating back to the 1960s identified more than 20 mineral
occurrences (including Cu, Pb, Zn, Au, W) and a significant amount
of soil and stream sediment anomalies within the licence area.
Geologically, the area is composed of volcanic,
volcanic-sedimentary, and sedimentary deposits of the Devonian.
Extrusive-subvolcanic formations are generally represented by rocks
of felsic, medium and mafic composition, with the predominance of
felsic rock (albitophyres, potassium feldspar porphyry,
rhyodacites, less often andesite and andesite-basalt porphyrites).
Intrusive formations include mainly granites.
HEM Survey
A HEM survey was conducted over 614.3km(2) to identify hidden or
buried VMS ore bodies. HEM is the principal technology used in the
Paterson province of Western Australia which was used to discover
Rio Tinto's 'Winu' deposit and Greatland Gold/Newcrest's 'Havieron'
deposit. VMS deposits produce significant electromagnetic responses
and thus this technology is the best geophysical method available
for detecting ore bodies of this type, under cover. Geophysical
responses become direct exploration vectors for the identification
of drilling targets.
Aurora and Xcalibur
Xcalibur Multiphysics ("Xcalibur") conducted the EM survey and
is the world's leading company in Multiphysics. It owns 20
specialised aircraft and 85 geophysical systems and has executed
more than 1,000 projects globally. Throughout its over 40 years of
experience, Xcalibur has established more than 50 million linear
kilometers of collected data.
Aurora Minerals Group, a leading service provider in Kazakhstan,
led the logistics and execution of the EM programme. Aurora has
conducted exploration programmes for Kazzinc, Rio Tinto, Fortescue
Metals Group, Tau-Ken Samruk, and KAZ Minerals.
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, rare earth, and copper deposits in Kazakhstan. With an
initial five licences covering 1,442 km(2) 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:
LinkedIn: www.linkedin.com/company/east-star-resources/
Twitter: www.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
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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END
MSCUPUQGMUPPGAA
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July 06, 2022 02:00 ET (06:00 GMT)
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