Getech Grp Regulatory News (GTC)

23 April 2024

Contract Win

Getech Engaged by East Star Resources to Locate Porphyry Copper in Kazakhstan

Getech, a world-leading locator of subsurface resources, is pleased to announce it has won a new contract with East Star Resources, a London-listed company focused on copper exploration, to locate porphyry copper deposits in Kazakhstan. The project is backed by the BHP Xplor 2024 accelerator programme and is the first time Getech's Globe geoscience platform will be used to locate porphyry copper.

The contract win builds on the Company's joint venture agreement with East Star Resources, announced last month, to explore for sedimentary copper deposits in Kazakhstan. For this contract aimed at locating porphyry copper, the Company will receive a fee for exploration services.

Combining its Globe geoscience platform market-leading potential fields data with East Star Resource's technical expertise and access to local data, Getech will conduct a comprehensive structural interpretation of the area of interest to produce a series of palaeo-tectonic reconstructions and cross-sections demonstrating the local geology. Building on this foundation and integrating Getech's extensive mineral occurrence database and remote sensing data, the company will employ sophisticated machine learning techniques to locate prospective areas for commercial porphyry copper deposits. These insights will help East Star prioritise exploration targets and identify new areas for exploration.

East Star is one of the six participants in the BHP Xplor 2024 accelerator programme, designed to support early-stage mineral exploration companies in finding the critical resources needed to support the energy transition. Getech is a member of the BHP Xplor network of external industry experts having supported Asian Battery Minerals in locating nickel in Mongolia as part of the programme in 2023.

Since joining the BHP Xplor programme, East Star has acquired two exploration licenses for copper porphyry in Kazakhstan and plans to secure several more within its areas of interest.

Global demand for copper is rising steadily and is only expected to accelerate as copper is crucial for green technologies and electrification. As known copper sources deplete, the discovery of new deposits is essential to meet growing demand. These porphyry copper deposits, typically characterised by their relatively large size and low extraction costs, are pivotal in supporting the energy transition.

Richard Bennett, CEO at Getech, commented:

"It is particularly pleasing to be selected for repeat projects with both the BHP Xplor accelerator programme, and East Star. Importantly, I believe awareness, of our ability to make mineral exploration less risky and more cost-effective, is growing amongst explorers like East Star who are looking for assets to support the energy transition. This is a key part of our strategy and while this is our first contract to locate porphyry copper, given its value as a resource, we are hopefully that it will be the first of many."

Alex Walker, CEO at East Star, commented:

"I believe Kazakhstan mirrors Western Australia in the 1970s in terms of mineral potential. We're advancing on three fronts: a VMS deposit, a BHP-backed porphyry exploration programme and a JV exploring for sedimentary-hosted copper, with Getech involved in the latter two. Given Getech's unparalleled database and innovative approach, I'm confident they will enhance our exploration efficiency."

Notes to editors:

About Getech

Getech is a leading locator of the energy and mineral resources essential for the world's energy transition. Getech's unique data encompassing the most recent 400 million years of Earth's evolution, coupled with its geoscience expertise, AI-driven analytics and extensive GIS capabilities, enables the company to provide valuable and actionable insights to support resource discovery and development.

The company's client portfolio is wide-ranging, from governments, municipalities, natural resources and energy companies to consumer goods and computing services companies, all striving to become energy and minerals self-sufficient and drive towards net zero.

Founded in 1994 Getech is listed on the Alternative Investment Market of the London Stock Exchange ("AIM"), with ticker symbol GTC.

For further information, please visit www.getech.com.

About East Star

East Star Resources is focused on the discovery and development of copper resources in Kazakhstan. With eight licences covering 1,190.3 km² in three mineral rich districts of Kazakhstan, East Star is undertaking exploration programmes, 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 is working towards the delivery of a JORC compliant open pit copper resource 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 for copper porphyry exploration.