REG - East Star Resources - Exploration Update

East Star ResourcesAnnouncement

04/02/2025 07:15

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RNS Number : 7359V  East Star Resources PLC  04 February 2025

4 February 2025

East Star Resources Plc

("East Star" or the "Company")

Exploration Update

 

All holes intersected mineralisation outside current resource at Verkhuba and
further indications of significant epithermal gold target at Snowy

 

East Star Resources Plc (LSE:EST), which is exploring for copper and gold in
Kazakhstan, is pleased to provide an update on recent exploration activities
and future work plans in relation to its VMS and copper porphyry strategies.

 

Highlights:

VMS - Verkhuba Copper Deposit & Targets

·    Completion of three drill holes at the Verkhuba Copper Deposit
("Verkhuba"), with all holes intersecting mineralisation outside of the
existing modelled ore bodies which make up the current mineral resource

·    Submission of 238 core samples from the three drill holes to assay
service provider ALS in Karaganda for analysis - results expected by
end-February 2025

·    Further evidence supporting Talovskoye as a high priority drill
target following Induced Polarisation ("IP") geophysical survey results
indicating a conductor which requires infill survey lines

Copper Porphyry/Epithermal Gold

·    Additional satellite spectral data from the large gold in soil
anomaly (4 km by 1 km) at Snowy indicates a significant epithermal gold target
worthy of follow-up work

Alex Walker, East Star CEO, commented:

"Recent exploration is delivering encouraging results across both our current
work streams. Results at Verkhuba show we are advancing this already
substantial copper asset, while refining other targets including Talovskoye
for near-term drilling. At Snowy, the emergence of a large epithermal gold
target bookended by old artisanal gold pits is undeniably exciting given the
typically very large size of these deposits.

East Star has been operating efficiently in Kazakhstan for more than three
years now and the global exploration community is beginning to accelerate its
interest in the country. Our proprietary data set and experience provides a
distinct operating advantage, and we believe 2025 will be a year of
significant progress across all three of our exploration strategies."

Next Steps

VMS

Verkhuba Copper Deposit & Targets

Drilling started on 12 November 2024 and stopped for a winter break on 19
December 2024. A number of new mineralised zones have been intersected within
the previously modelled open pit shell but outside of East Star's 2024
Verkhuba Mineral Resource Estimate. The mineralised intervals appear to
correlate with the same stratigraphic horizon as existing modelled ore bodies
and therefore drill results have the potential to add tonnes to the existing
resources and lower the strip ratio of an open pit development.

Once received, East Star will evaluate assay results from Verkhuba and
determine the extent of additional mineralisation and suitability of the
results to inform additional drilling in 2025. East Star is also evaluating
the potential for additional massive sulphide resources at Verkhuba. If
targets are identified, geophysics and drilling will be used to test these
additional targets in 2025.

Figure 1 - Main mineralised interval in VU_24_DD_008A

 Figure 2 - Pyrite, chalcopyrite and sphalerite mineralisation in VU_24_DD_008A

 

Talovskoye IP Survey

The IP survey began on 23 October 2024 and stopped on 8 November 2024. Surveys
were completed on the Talovskoye and Nikolovskoye East targets. In total,
5.5-line km of IP was completed.

The results from the IP survey were processed by Mitre Geophysics in
Australia. The data was processed, and sections were generated to visualise
the IP response. Mitre noted a strong chargeable anomaly in the southernmost
line of the Talovskoye survey. As a result, East Star has planned 50 m of
infill lines at Talovskoye when the snow recedes which is expected to be in
May 2025. East Star previously announced rock chip results at Talovskoye,
including:

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 and

o  2.58% Cu, 11.35% Pb, 3.84 g/t Au and >100 g/t Ag

 

 

 

Figure 3 - Talovskoye IP survey processed image showing chargeability anomaly

Copper Porphyry/Epithermal Gold

East Star previously announced soil sampling of the Snowy Licence. The licence
is being explored for porphyry copper and epithermal gold. Results from the
soil sampling show two anomalous targets on the licence. A copper-molybdenum
anomaly in the western portion of the licence is prospective for a copper
porphyry target, while another target (the "Eastern Target") is around 4 km
long by 1km wide and displays anomalous gold (up to 0.28g/t) and silver (up to
7.2g/t) as well as arsenic, molybdenum and weak mercury in soils. This is
consistent with the nearby artisanal workings present at each end of the
anomaly, which are believed to have exploited gold bearing epithermal veins at
the surface and lend additional support to the presence of mineralisation at
the target.

Figure 4 - Artisanal pit located to the west of the target

 

 

Figure 5 - Quartz-pyrite altered rock (granitic precursor) found near to
artisanal pit

Satellite hyperspectral data (PRISMA) has since been used to further delineate
compositional variability within the gold target. Improved spectral resolution
in the hyperspectral imagery allows mineral species to be identified and
targeted. Spectral signatures collected from the imagery are interpreted to
identify areas with high pyrophyllite (red) and variability in white mica
composition (green and blue).

 Figure 6 - PRISMA imaging showing pyrophyllite  Figure 7 - Gold in soil anomaly over the spectral area

 

The images above show a very strong correlation between the pyrophyllite
alteration and the gold distribution through the centre of the anomaly. This
is significant as pyrophyllite is an indicator mineral of the higher
temperature (deeper) portions of epithermal deposits and can be interpreted as
being more proximal to the feeder structure of the mineralisation allowing for
tighter vectoring into the central part of the mineralising system.
Confirmation of the target through geological mapping is planned at the start
of the field season. Likely follow-on work would also include geophysics -
typically IP - before the target is drill ready. All of the follow-up work
leading to a drill ready target can be completed in the 2025 field season.

Note on Epithermal Mineralisation

East Star is evaluating the potential for gold in a high sulfidation
epithermal deposit. High-sulfidation epithermal gold deposits are formed in
the epithermal environment (usually the upper 2 km of the crust) and at
moderately low temperatures (100-300°C) and are usually associated with
advanced argillic alteration often forming large, highly altered lithocaps.
Most epithermal deposits are related to hydrothermal systems that form in
response to the release of magmatic fluids (degassing) emanating from
crystallising intrusions at depth. High-sulfidation deposits are characterised
by a core zone of residual (vuggy) quartz flanked by quartz-alunite and
advanced argillic alteration containing kaolinite/dickite and pyrophyllite
produced by very low pH fluids below the paleowater table. These alteration
minerals are highly amenable to mapping using remote sensing techniques such
as ASTER.

The biggest examples of high-sulfidation deposits in production are Yanacocha
in Peru (36M Oz contained) and Pueblo Viejo in the Dominican Republic (>19M
Oz).

Investor Webcast

 

Alex Walker, CEO, will host a presentation and Q&A for investors and
shareholders via the Investor Meet Company platform on Thursday, 6 February
2025 at 10:30 a.m. GMT to discuss recent exploration activity.

 

Investors can sign up to Investor Meet Company for free and add East Star
Resources Plc in order to attend the Webcast via:
https://www.investormeetcompany.com/east-star-resources-plc/register-investor
(https://www.investormeetcompany.com/east-star-resources-plc/register-investor)
.

 

No material new financial or other information will be provided during the
webcast. A recording of the webcast will be made available on the Company's
website later in the day.

 

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

 

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 copper and
gold in Kazakhstan. East Star's management are based permanently on the
ground, supported by local expertise. The Company is pursuing three
exploration strategies:

 

·    A Volcanogenic Massive Sulphide (VMS) discovery with a maiden JORC
MRE of 20.3Mt @ 1.16% copper, 1.54% zinc and 0.27% lead, in an
infrastructure-rich region, amenable to a low capex development

 

·    Copper porphyry and epithermal gold exploration, with multiple
opportunities for Tier 1 deposits, supported by an initial $500k grant from
BHP Xplor in 2024

 

·    Sediment-hosted copper exploration with Getech where the initial
targeting strategy is at no cost to East Star

 

 

Visit our website:

www.eaststarplc.com (http://www.eaststarplc.com)

 

Follow us on social media:

LinkedIn: https://www.linkedin.com/company/east-star-resources/
(https://www.linkedin.com/company/east-star-resources/)

 

X (formerly Twitter): https://twitter.com/EastStar_PLC
(https://twitter.com/EastStar_PLC)

 

Subscribe to our email alert service to be notified whenever East Star
releases news:

 

www.eaststarplc.com/newsalerts (http://www.eaststarplc.com/newsalerts)

 

The person who arranged for the release of this announcement was Alex Walker,
CEO of the Company.

 

Competent Person Statement

The technical information related to East Star Resources assets contained in
this report that relates to Exploration Results is based on information
compiled by Mr Christopher van Wijk, who is a Member of the Australasian
Institute of Mining and Metallurgy and who is a Geologist employed by East
Star Resources as an Executive Director. Mr van Wijk has sufficient experience
which is relevant to the style of mineralisation and type of deposit under
consideration, and to the activity which he is undertaking, to qualify as a
Competent Person as defined in the 2012 Edition of the 'Australasian Code for
Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Mr van
Wijk consents to the inclusion in the release of the matters based on the
information he has compiled in the form and context in which it appears.

 

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