REG - East Star Resources - Rock Chip Results, Rudny Altai, Kazakhstan
31/08/2022 07:01
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RNS Number : 6561X East Star Resources PLC 31 August 2022
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31 August 2022
East Star Resources Plc
("East Star" or the "Company")
Rock Chip Results, Rudny Altai, Kazakhstan
East Star Resources Plc (LSE:EST), the Kazakhstan-focused gold, rare earths
and copper explorer, is pleased to announce the results of analysis of rock
chips collected across the Company's five volcanogenic massive sulphide (VMS)
Rudny Altai belt licences from geological reconnaissance conducted in June
2022.
Highlights:
· Exceptionally high grades of 17.3% Cu, >10% Pb, 0.4% Zn, 0.37g/t
Au and 121.5g/t Ag in rock chips from Talovskaya - an historic mine which
operated in 1775, 1782-1783 and 1892-1896
· 4.8% Cu and 29.2 g/t Ag in rock chips from Verkhubinskoye - a deposit
which reported non-compliant resources with contained metals of 136,500 t Cu,
24,810t Pb and 173,500 t Zn
· 0.82% Cu, 1.35% Pb and 5.7 g/t Ag in rock chips from Rulyevskoye - an
historic gold mine with quartz vein and tourmaline-quartz vein mineralisation
which operated in 1938-1940
Alex Walker, East Star CEO, commented:
"Our rock chip analyses verify and provide additional geological context to
historical data, confirming the rich nature of these targets. The Talovskaya
target for example was originally mined in 1775 with the last mining taking
place in 1896 and the last exploration in 1992. The rock chips collected
equate to more than 22% CuEq and although it's difficult to know what remains
at this target, it is similar to the historical run-of-mine grade and is a
further indication of its potential to host un-depleted ore bodies.
The sheer number of now verified targets confirm what we have been hoping to
deliver to East Star shareholders: significant optionality on a number of
potential company-making discoveries.
We intend to conduct further work focussed on the highest ranked targets in
September. We have ordered additional historical reports and continue to
process the electromagnetic data for final targeting before drilling, expected
to be in H1 2023."
Figure 1 Selected rock chip results in purple showing mineralisation in a
number of potential exploration areas
Sample Types and Locations
In June 2022, the Company's geological team conducted reconnaissance visits to
historical mines and occurrences within the Company's five licences on the
Rudny Altai belt. Rock chip samples were taken and analysed by ICP-MS (see
table 1). Samples were collected from surface with specific sampling
strategies determined by the nature and extent of outcrop, with some
mineralised targets showing poor outcrop.
Amongst many anomalous results, very high base metal concentrations were
recorded in samples from Talovskaya and Verkhubinskoe. These targets will be
prioritised for further follow-up based on electromagnetic data and geological
mapping to eventually produce drill targets.
Table 1: Highlights from June 2022 reconnaissance mapping and rock chip
sampling on East Star's licences in Rudny Altai and ICP-MS assay data
Name Description based on historical report and site visit Sample Description Cu Pb Zn Au Ag
% % % g/t g/t
Talovskaya Found in 1775 as a group of small lenses of Cu-pyrite and Cu-Zn ores. It was Basalt sill with malachite vugs and veinlets from a pit. 17.35 >10.0 0.4 0.37 121.5
mined in 1775, 1782-1783 and 1892-1896.
Solonovskoye occurrence Found in 1966. Zn is 0.05-3.3%, Cu is 0.05-3.76%, Pb is 0.05-1.14% in Rhyodacitic tuff or granite porphyry with weak phyllic alteration and 0.04 0.16 0.10 <0.10 <1
sedimentary rock and acid volcanics. There are 6 lenses (1-58m thick) up to secondary pyrite and chalcopyrite alteration taken from outcrop.
760m length.
Teplushinskoye occurrence Found in 1955 in phyllic altered sedimentary rocks and acid volcanics along Oxidised quartz-pyrite vein taken from subcrop. 0.14 0.08 0.12 0.34 16.1
their contact. There are 2 zones: 1 zone is 10-14m thick with a strike length
up to 80m. Zn is up to 5%, Cu is up to 15%, Pb is up to 0.1% (borehole 1);
Second zone is 6m x 150m. Zn is up to 5%, Cu is up to 0.2%, Pb is up to 1%.
There are many small zones 1-4m thick: Zn is up to 1.37%, Cu is up to 1%, Pb
is up to 0.57% (borehole 339)
Verkhubinskoye (Pb-Zn-Cu) Found in 1949 (vein type) and 1988 (skarn type). Total length is up to 1,500m. Tuffaceous siltstone and sandstone with brecciation and malachite veinlets 4.82 0.02 0.03 <0.10 29.2
There are all combinations of pyrite, chalcopyrite, galena and sphalerite. taken from a mining shaft.
Historically described "Proved reserves" are 136,500t of Cu, 24,810t of Pb and
173,500t of Zn.
Northern zone: Cu 2.5-17.5%; Pb 1.25-14.34%; Southern zone: Cu 0.2-1.8%; Pb
3.36%.
Tuffaceous siltstone and sandstone with pyrite-quartz veins and oxidation 0.16 0.04 0.0 <0.10 <1
taken from an open pit.
Rulyevskoye occurrence 67 Quartz veins and tourmaline-quartz veins with gold. Mined in 1938-1940. Gold Waste rock with quartz remnants. 0.01 0.01 0.0 <0.10 <1
grade is less than that at Polevayevskoye.
Quartz block with Fe oxides in a trench. 0.82 1.35 0.02 <0.10 5.7
Sericite-quartz slates with quartz veinlets and schistosity in a pit. 0.01 0.01 0.0 <0.10 <1
Chudak Found in 1862. A vein type of sulphide and quartz-sulphide ore body, located Rhyodacitic lapilli tuff with strong phyllic alteration in outcrop. 0.02 0.01 0.05 <0.10 <1
inside geological formation of massive sulphide ores. Disseminated sulphides
have been redeposited and later enriched during intrusive and tectonic
activity. All ore bodies are controlled by faults perpendicular to the strike
of bedding. Zn is up to 2.92%. Cu is 1.55-14.61%. Pb is up to 0.33%. Au 0.5
g/t. Mining stopped in 1890.
Rhyodacitic lapilli tuff with strong phyllic alteration in outcrop. 0.24 0.32 0.09 <0.10 1.8
Mineralisation point 33 Mineralisation is related to local epidote and limonite alterations in Magnetite skarn with malachite veinlets taken from a trench. 0.02 0.07 0.85 <0.10 <1
plagioclase porphyry. Zn is 0.12-0.32%.
Rudny Altai Region
East Star's VMS licences (the "Licences") are located in the Rudny Altai
region of Eastern Kazakhstan. Administratively, the Licences are within the
Shemonaikha district and are extraordinarily well connected to infrastructure.
The regional centre of Ust-Kamenogorsk is located 45 km, and its international
airport is located 35 km, 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. According to a mineral map, published in the
1960s, the Licences contain more than 20 mineral occurrences (including Cu,
Pb, Zn, Au, W) and a significant amount of soil and stream sediment anomalies.
Table 2: Summary of tonnages and grade for some of the known deposits around
the Company's licences in Rudny Altai.
Name (Mt) Cu (%) Pb (%) Zn (%) Au (g/t) Ag (g/t)
Tishinskoye 60 0.5 0.9 5.3 0.9 15
Grekhovka 59 0.4 1.4 2.8 0.1 20
Novo-Leninogorsk 53.4 0.16 1.43 4.04 1.54 32.8
Artemyevsky 51.3 1.88 1.97 6.39 1.17 115
Maleevsky 50 2.3 1.3 7.5 0.75 75
Orlovskoye 48 4.7 0.9 3.2 0.8 47
Novo-Zolutushinskoye 48 4.7 0.9 3.2 0.8 47
Nikolayevskoye 40.3 2.4 0.43 3.24 1.13 48.3
Irtysky 30 2.16 0.71 5.12 0.37 82.1
Belousovskoye 30 1.1 1.15 4.74 0.38 51.3
Korbalikha 25 1.46 2.01 9.81
Dolinnoye 22 0.43 0.5 1 2.67 13.7
Kamyshinskoye 15 2.64 1.05 2.77
Rulikha 14.3 1.18 0.44 3.58 0.28 13.5
For further information visit the Company's website at www.eaststarplc.com
(http://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 / Tara Benniman / Peter Jacob
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 nine licences
covering 1,687 sq km 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:
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(https://www.linkedin.com/company/east-star-resources/)
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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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