Last checked at 27 Nov 2023 07:00
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF REGULATION 2014/596/EU WHICH IS PART OF DOMESTIC UK LAW PURSUANT TO THE MARKET ABUSE (AMENDMENT) (EU EXIT) REGULATIONS (SI 2019/310) ("UK MAR"). UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION (AS DEFINED IN UK MAR) IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.
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27 November 2023
East Star Resources Plc
("East Star" or the "Company")
Talovskoye Prospect: Sampling Results
Identification of very high-grade Cu/Ag target
East Star Resources Plc (LSE:EST), which is defining mineral resources in Kazakhstan for the energy revolution, is very pleased to announce the results from sampling at the Talovskoye prospect on the Rudny Altai Volcanic Massive Sulphide ("VMS") belt in Kazakhstan. The Talovskoye prospect sits on licence RA1, which is 100% owned by East Star and appears to have many geological similarities to the high-grade current and past producing VMS deposits on the belt.
Highlights:
· Mapping identifies high-grade Cu/Ag mineralisation only 17km from the Nikolovskoye processing plant
· Samples include:
o 6.30% Cu, 5.19% Pb, 0.81 g/t Au and >100g/t Ag
o 8.44% Cu, >20% Pb, 1.1 g/t Au and > 100 g/t Ag
o 2.58% Cu, 11.35% Pb, 3.84 g/t Au and >100 g/t Ag
· Extensive sulphide mineralisation, with outcropping gossans largely obscured under waste from historical small-scale mining
· Existing infrastructure and proximity to the Nikolovskoye processing plant offers potential for low-cost development
· Further exploration is required on this high-priority target with drilling planned for 2024
Alex Walker, East Star CEO, commented:
"The Talovskoye Cu/Ag prospect is shaping up to be another very interesting target within our VMS portfolio. The detailed mapping undertaken this year has informed our geological understanding and strengthened our view that this is a prospect we should be drilling at the nearest opportunity.
Largely covered by waste from small-scale mining and only 17km by road to the Nikolovskoye processing plant, the Talovskoye prospect has the potential to be a very low-cost development opportunity should it get to that stage."
Figure 1: Talovskoye Prospect mapping demonstrating high-grade Cu/Ag mineralisation with historic shallow drill holes
Next Steps
The discovery of high-grade Cu/Ag mineralisation confirms the importance of Talovskoye, informed by geological understanding driven by detailed mapping conducted earlier this year. With winter approaching, East Star will continue the geological review of the prospect to determine the additional steps, if any, required to refine targeting ahead of the 2024 drilling season.
Verkhuba Assay Update
Final assays (excluding gold) have been received from the laboratory, with the Company undertaking further QA/QC protocols prior to the results being confirmed and released to the market which is expected in the next 1-2 weeks.
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 an initial nine licences covering 1,321.5 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. 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.
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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.