REG - East Star Resources - Verkhuba Copper Drill Results Update

East Star ResourcesAnnouncement

14/11/2023 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20231114:nRSN2357Ta&default-theme=true

RNS Number : 2357T  East Star Resources PLC  14 November 2023

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.

 

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR
INDIRECTLY IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, THE
REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD
CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION.

 

14 November 2023

East Star Resources Plc

("East Star" or the "Company")

Verkhuba Copper Drill Results Update

 

High grade copper and zinc zones confirmed

 

East Star Resources Plc (LSE:EST), which is defining mineral resources in
Kazakhstan for the energy revolution, is very pleased to provide an update on
the assays from drilling at the Verkhuba Deposit on the Rudny Altai VMS belt.

 

Highlights:

 ·             Multiple zones of massive and disseminated sulphides identified in logging
               have now been confirmed to contain high-grade copper
 ·             62 samples contained grades above the 1% Cu and 1% Zn detection limits
               including Hole VU_23_DD_001 which contained an intersection of 10m @ >1% Cu
               and 7.95 g/t Ag from 30.4m
 ·             Mineralised zones confirm presence of high copper grades, as seen in
               historical drilling results
 ·             Presence of silver in mineralised zones demonstrates potential for precious
               metals to be a by-product
 ·             Results of re-assay of high-grade samples, including gold analysis, are
               expected in the next few weeks

 

Alex Walker, East Star CEO, commented:

 

"We are absolutely delighted with these initial results which not only
demonstrate the Verkhuba Deposit contains relatively shallow high-grade copper
but also provide credibility to the >42,000m of historical drill results
used in our resource model - which provided a JORC Exploration Target of 19-23
Mt @ 1.4-1.9% CuEq.

 

"Although more work is required, the prospect of East Star being able to
deliver a JORC compliant open pit copper resource right next to infrastructure
and within trucking distance of third-party mills with excess capacity just
got a whole lot closer. Also, having recently raised capital, the Company is
fully funded for this next phase of delivering value to shareholders."

 

Next Steps

 

The Company has sent 62 of 385 samples for re-assay as results came back above
detection limits of 1% for Cu or Zn.  Samples sent for re-assay will also be
tested for gold, based on high grade silver assays in several samples
suggesting potential for precious metal by-products. The results of these
assays are expected to be received in the next few weeks.

 

Once the final assays are returned and released to the market, the Company
will need to undertake remodelling work using these results, as well as the
data collected during the LIDAR survey, geological mapping, and borehole
surveys, to update the geological model. A geostatistical analysis of the
results against the historical results will be applied to understand what
additional work is required to progress Verkhuba to a JORC compliant resource.

 

East Star Resources Plc

Alex Walker, Chief Executive Officer

Tel: +44 (0) 20 3918 8792

 

Peterhouse Capital Limited (Corporate Broker)

Peter Greensmith

Tel: +44 (0) 20 7469 0930

 

SI Capital Ltd (Corporate Broker)

Nick Emerson

Tel: 01483 413500

 

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.

 

Follow us on social media:

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

 

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 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.

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  DRLVXLBFXFLBFBL