Undervalued multibagger15 Aug 2022 09:34
We currently valued 50% less than companies like mila - who own 30% of one high grade gold target
We’re over 3 weeks into drilling 3 of our 22 gold targets - expanding on the high grades at each
The REE $1.6bn jorc was a fraction of the overall target and last week the target expanded from 10km2 to 134.7km2
Alex Walker, East Star CEO, commented:
"Rare earth elements are classed by the UK as representing the highest global supply risk and the third highest UK economic vulnerability. We are therefore very pleased to extend our HREE footprint in the region by over tenfold and secure access to additional prospective ground for IAC hosted minerals - the same geology as the rare earths of South China on which the world currently substantially depends.
The size of the Talairyk deposit is already significant and could provide the scale required for feasibility work, however, considering the demand growth and lack of security of supply for rare earth elements, coupled with the location providing direct rail access to Europe via the Caspian Sea, growing the resource could make this deposit globally strategic."
https://twitter.com/EastStar_PLC/status/1551903660430573574?t=mzZot39l4YrZW_pQYTxQLA&s=19
And todays news - the fully complete H EM survey will land in the next few weeks - and while surrounded by high grade poly metal mines, and now with high grade deposits on our licences - any targets found are gonna be more of the same
Highlights:
· New Licences incorporate two historic operating (extremely high grade), copper-lead-zinc mines (Pokrovskoye and Talovskaya), one known deposit ( Verkhubinskoye), and many historical mineral occurrences
Talovskaya - A massive sulphide ore deposit found in 1782 and mined up to 1896, consisting of many ore lenses up to 30 m by 60 m with grades up to 11.9% Cu, 16% Zn and 2% Pb. The most recent exploration was conducted between 1989 and 1992, which found disseminated sphalerite.
The main rock type in the ore field is tuffaceous siltstone. Large volumes of malachite veinlets along a granite porphyry were reported from the first field visit (Figure 1) as well as magnesium skarns nearby. In the area are lots of smaller waste dumps and outcrops with malachite.
Pokrovskoye - Found in 1822 and mined up to 1979. The massive sulphide ore body was reported as 150 m long by 200 m wide and up to 22 m thick with average ore grades of 11.5% Cu, 3.3% Pb and 12% Zn.
This ore lens was located in a flexure along the contact of andesitic lava with a rhyolitic body. The volcanic formation was hornfelsed by granite prior to the ore stage. During this, there was tectonic brecciation with chlorite and sericite alteration.
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