REG - East Star Resources - Verkhuba Copper Deposit Update

East Star ResourcesAnnouncement

11/03/2024 07:00

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RNS Number : 2439G  East Star Resources PLC  11 March 2024

11 March 2024

East Star Resources Plc

("East Star" or the "Company")

Verkhuba Copper Deposit Update

 

Increased confidence in historical data and development potential - Mineral
Resource Estimate commissioned

 

East Star Resources Plc (LSE:EST), the Kazakhstan focused copper exploration
and resource development company,  is pleased to provide an update regarding
resource modelling of the Verkhuba copper deposit on the Rudny Altai Volcanic
Massive Sulphide ("VMS") belt, Kazakhstan, following extensive fieldwork
(including drilling) in 2023.

Updated Resource Modelling

East Star has updated its resource model for the Verkhuba copper deposit using
more accurate data derived from 12 months of detailed fieldwork, which
included geological mapping, a Light Detection and Ranging ("LIDAR")
topographical survey, and drilling. The results of the remodelling have
provided the Company with a higher degree of confidence in the historical data
and the development potential of the deposit. As such, and in discussion with
the Company's independent experts, AMC Consultants ("AMC"), East Star has
instructed AMC to undertake the work required to produce a maiden JORC
Inferred resource. This work is expected to take around one month and will be
ready prior to the commencement of the 2024 field season.

Alex Walker, East Star CEO, commented:

"Detailed work by our technical team, in conjunction with AMC, over the last
12 months has culminated in East Star being on the brink of delivering its
maiden JORC Inferred resource for Verkhuba. We believe Verkhuba is an
attractive copper deposit due to its initial open pit potential and proximity
to existing processing infrastructure in the region, which could enable us to
get into production quickly and with a much lower capital requirement.
Drilling in the upcoming season will focus on further resource definition to
convert the open pit area to JORC Indicated status as well as further testing
the continuity of the underground ore bodies to assess development potential.
We expect this to precede either a scoping study or a pre-feasibility study to
demonstrate the low-cost development potential of the Verkhuba deposit.

 

In addition to progressing with Verkhuba, East Star intends to drill several
other VMS targets in the Rudny Altai licences, which have been progressively
refined from the initial 48 targets defined by the Heliborne-Electro Magnetic
Survey conducted in 2022. Coupled with our new copper porphyry exploration
strategy and the recently announced sediment-hosted exploration strategy with
Getech, East Star is well poised to deliver discoveries and shareholder
returns at a time when the global economy is beginning to run critically short
of copper supply."

 

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 eight licences covering
1,190.3 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. 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.

 

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.

 

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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