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REG - East Star Resources - VMS Copper Drilling Results

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RNS Number : 3309X  East Star Resources PLC  17 February 2025

17 February 2025

East Star Resources Plc

("East Star" or the "Company")

VMS Copper Drilling Results

 

Results expected to add tonnes to existing resources and lower strip ratio of
open pit development

 

East Star Resources Plc (LSE:EST), which is exploring for copper and gold in
Kazakhstan, is pleased to provide initial drill results from Q4 2024 drilling
at the Verkhuba Copper Deposit ("Verkhuba") in the East Region of Kazakhstan.
Assays from all 238 core samples taken from three drill holes have been
received with several new mineralised zones intersected.

Highlights:

·    All holes intersected ore grade mineralisation

·    Mineralisation is recorded outside the current modelled ore bodies
but within the open pit shell, potentially leading to a Mineral Resource
increase

·    Intercepts include:

 

 Hole_ID                                     Intercept
 VU_24_DD_007A  0.7m @ 2.94% Cu and 0.17% Zn from 60.1m
                4.0m @ 0.69% Cu from 210.1m including 0.5m @ 2.59% Cu from 211.8m
 VU_24_DD_008A  0.6m @ 1.99% Cu from 54.2m
                5.1m @ 1.43% Cu from 170.2m
                0.5m @ 1.63% Cu from 221.5m
 VU_24_DD_027A  1.4m @ 2.88% Zn and 0.28% Cu from 172.8m

 

Alex Walker, East Star CEO, commented:

 

"We are very pleased with these results, having drilled outside the current
resource envelope and intersected numerous ore grade intervals. In the current
open pit model, provided by AMC Consulting, these new intersections that were
previously classified as waste will now be converted to ore. This supports our
view that the ore lenses comprising the current resource model extend further
and so additional drilling in these areas will potentially grow the resource
and improve the economics.

 

It is important to note that the three drill holes completed were not
targeting the thickest, shallowest or highest-grade portions of the resource
and so we look forward to getting the drill rig turning again in Q2 2025."

 

Further Information

The new intervals were intercepted within the previously modelled open pit
shell but outside of East Star's 2024 Verkhuba Mineral Resource Estimate (See
Figure 1). The mineralised intervals appear to correlate with the same
stratigraphic unit as existing modelled ore bodies, allowing these to join up
along strike and therefore these drill results should add tonnes to the
existing resources and lower the strip ratio of an open pit development. Holes
VU_24_DD_007A and VU_24_DD_008A infilled gaps in the southern part of the
deposit to approximately 100m drill spacing. Highlighted intercepts were
reported using cut off grades of 0.3% for copper and 0.8% for zinc and limit
of 2m maximum consecutive internal waste.

 

 

Figure 1: 2024 drilling demonstrating ore in gaps in the current resource
envelope

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

 

Scientific or technical information in this disclosure related to exploration
was reviewed by Dr Tremain Woods, a full-time employee of Discovery Ventures
Kazakhstan Ltd, a 100% owned subsidiary of East Star Resources PLC. Dr Woods
is a member in good standing with the Geological Society of South Africa. He
has sufficient experience that is relevant to the commodity, style of
mineralization or type of deposit under consideration and activity which he is
undertaking to qualify as a Competent Person under the JORC code (2012
Edition).

JORC Code, 2012 Edition - Table 1
Section 1 Sampling Techniques and Data
 Criteria                                                 JORC Code explanation                                                            Commentary
 Sampling techniques                                      ·    Nature and quality of sampling (e.g. cut channels, random chips, or         ·      Samples were taken from half drill core through sulphide or oxide
                                                          specific specialised industry standard measurement tools appropriate to the      mineralised intervals.
                                                          minerals under investigation, such as down hole gamma sondes, or handheld XRF

                                                          instruments, etc). These examples should not be taken as limiting the broad      ·      Sampling was conducted through mineralized intervals, with
                                                          meaning of sampling.                                                             samples taken 2 meters into the hanging wall and footwall for intervals larger

                                                                                than 3 meters. For smaller intervals (<2 meters), only the mineralized
                                                          ·    Include reference to measures taken to ensure sample representivity         portion is sampled.
                                                          and the appropriate calibration of any measurement tools or systems used.

                                                                                ·      Sample quality is ensured by a structured scheme, including
                                                          ·    Aspects of the determination of mineralisation that are Material to         blanks, certified reference materials (CRM), and duplicates.
                                                          the Public Report.

                                                                                ·      Banks are inserted at the beginning and end of large, mineralized
                                                          ·    In cases where 'industry standard' work has been done this would be         intervals, but not for smaller isolated intervals.
                                                          relatively simple (e.g. 'reverse circulation drilling was used to obtain 1 m

                                                          samples from which 3 kg was pulverised to produce a 30 g charge for fire         ·      CRMs are inserted at every 50th and 100th sample to monitor
                                                          assay'). In other cases, more explanation may be required, such as where there   consistency.
                                                          is coarse gold that has inherent sampling problems. Unusual commodities or

                                                          mineralisation types (e.g. submarine nodules) may warrant disclosure of          ·      Coarse duplicates are taken every 40th and 80th sample, focused
                                                          detailed information.                                                            on mineralized portions, and 5% of mineralized pulps are sent for external lab
                                                                                                                                           analysis.

                                                                                                                                           ·      A total of 191.4 meters of core were sampled, with 216 core
                                                                                                                                           samples collected, including 12 blanks, 5 CRMs, and 5 duplicate samples.

                                                                                                                                           ·      Core samples were prepared by ALS Kazgeochemistry LLP, using
                                                                                                                                           standard methods like crushing, sieving (<70% passing 2mm), and milling
                                                                                                                                           (>85% passing 75μm).

                                                                                                                                           ·      Samples are analysed using the ME-ICP41 method for routine
                                                                                                                                           analysis, and for over-limit ore samples, the ME-OG62 method is used.
 Drilling techniques                                      ·    Drill type (e.g. core, reverse circulation, open-hole hammer, rotary        ·    Drilling was conducted using stand HQ sized diamond drilling
                                                          air blast, auger, Bangka, sonic, etc) and details (e.g. core diameter, triple    technique.
                                                          or standard tube, depth of diamond tails, face-sampling bit or other type,

                                                          whether core is oriented and if so, by what method, etc).                        ·    Positive Group Kazakhstan undertook drilling.

                                                                                                                                           ·    Drill core was orientated using a REFLEX Act III orientation tool.
                                                                                                                                           All holes that weren't drilled vertically were orientated once solid core was
                                                                                                                                           intersected.

                                                                                                                                           ·    After drilling was completed, all holes were survey at 50 m intervals
                                                                                                                                           using the REFLEX EZ TRAC survey tool
 Drill sample recovery                                    ·    Method of recording and assessing core and chip sample recoveries and       ·    Core recovery was measured by East Star geologists, an average of 96
                                                          results assessed.                                                                % recovery was recorded for the three completed drill holes.

                                                          ·    Measures taken to maximise sample recovery and ensure representative        ·    Through the mineralized intervals, core recovery was 97% and greater.
                                                          nature of the samples.

                                                                                ·    There is no relationship between Cu, Pb or Zn grades and recovery.
                                                          ·    Whether a relationship exists between sample recovery and grade and

                                                          whether sample bias may have occurred due to preferential loss/gain of           ·    There does not appear to have been any bias due to sample material
                                                          fine/coarse material.                                                            loss/grain
 Logging                                                  ·    Whether core and chip samples have been geologically and                    ·    East Star geologists undertook core logging.
                                                          geotechnically logged to a level of detail to support appropriate Mineral

                                                          Resource estimation, mining studies and metallurgical studies.                   ·    Quantitative data for mineralization, lithology, structure,

                                                                                alteration, oxidation, and weathering was logged.
                                                          ·    Whether logging is qualitative or quantitative in nature. Core (or

                                                          costean, channel, etc) photography.                                              ·    All recovered core was logged and photographed before and after

                                                                                sampling
                                                          ·    The total length and percentage of the relevant intersections logged.
 Sub-sampling techniques and sample preparation           ·    If core, whether cut or sawn and whether quarter, half or all core          ·    Half core samples were collected for processing, the remaining half
                                                          taken.                                                                           core is securely stored at East Star's core storage facilities in Verkhuba

                                                                                Village
                                                          ·    If non-core, whether riffled, tube sampled, rotary split, etc and

                                                          whether sampled wet or dry.                                                      ·    Samples were crushed into chips; the chips were passed through a

                                                                                riffle splitter several times to obtain 500 g samples for milling. Crushed
                                                          ·    For all sample types, the nature, quality, and appropriateness of the       sample duplicates were analysed to confirm homogeneity of crushed samples.
                                                          sample preparation technique.

                                                                                ·    Blank granite material was also inserted into the sample stream to
                                                          ·    Quality control procedures adopted for all sub-sampling stages to           ensure no contamination occurs during crushing or milling.
                                                          maximise representivity of samples.

                                                                                ·    ALS laboratories weigh samples before and after sieving, to ensure
                                                          ·    Measures taken to ensure that the sampling is representative of the         that the thresholds for size fractions are met for each sample.
                                                          in-situ material collected, including for instance results for field
                                                          duplicate/second-half sampling.

                                                          ·    Whether sample sizes are appropriate to the grain size of the
                                                          material being sampled.
 Quality of assay data and laboratory tests               ·    The nature, quality and appropriateness of the assaying and                 ·    Aqua regia is a partial digest method well suited to base metal
                                                          laboratory procedures used and whether the technique is considered partial or    analyses, the method at ALS is internationally recognized and provides precise
                                                          total.                                                                           and accurate analyses.

                                                          ·    For geophysical tools, spectrometers, handheld XRF instruments, etc,        ·    Standard assay quality controls are used by the laboratory and East
                                                          the parameters used in determining the analysis including instrument make and    Star inserted QA/QC samples to evaluate and confirm the assay results. All
                                                          model, reading times, calibrations factors applied and their derivation, etc.    QA/QC samples reported within limits.

                                                          ·    Nature of quality control procedures adopted (e.g. standards, blanks,
                                                          duplicates, external laboratory checks) and whether acceptable levels of
                                                          accuracy (i.e. lack of bias) and precision have been established.
 Verification of sampling and assaying                    ·    The verification of significant intersections by either independent         ·    Significant intersections were confirmed visually by East Star's
                                                          or alternative company personnel.                                                exploration manager, no independent verification has been completed to date.

                                                          ·    The use of twinned holes.                                                   ·    Logged data was inspected by East Star's exploration manager, any

                                                                                changes to the logged data were made before data was sent to Rock Solid based
                                                          ·    Documentation of primary data, data entry procedures, data                  in Perth, Australia to be added to the maintained SQL database
                                                          verification, data storage (physical and electronic) protocols.

                                                          ·    Discuss any adjustment to assay data.
 Location of data points                                  ·    Accuracy and quality of surveys used to locate drill holes (collar          ·    Drill holes were surveyed using Garmin GPSMAP 62S handheld GPS
                                                          and down-hole surveys), trenches, mine workings and other locations used in      device. DGPS surveys are planned once all drilling is completed.
                                                          Mineral Resource estimation.

                                                                                ·    Grid system WGS83, UTM44N
                                                          ·    Specification of the grid system used.

                                                                                ·    Some errors were noted in the elevation readings (from 5 - 14 m
                                                          ·    Quality and adequacy of topographic control.                                errors), these were adjusted to the elevation values of the LIDAR topography
                                                                                                                                           survey at the coordinates of the drill hole.

                                                                                                                                           ·    A drone LIDAR survey was conducted in 2023. The survey conducted by
                                                                                                                                           Aurora Geophysics used a drone mounted LIDAR sensor (DJI Zenmuse L1 Lidar on a
                                                                                                                                           DJI Matrice 300 RTK Combo D-RTK 2 drone) with a base station (Trimble R12 and
                                                                                                                                           Trimble TDL 450 radio modem). Flight lines were 90 m apart, and the resolution
                                                                                                                                           produced was 3.44 cm/pixel. The processed digital terrane model was checked
                                                                                                                                           against control points.
 Data spacing and distribution                            ·    Data spacing for reporting of Exploration Results.                          ·    Historical drilling was drilled along NW-SE trending lines, the lines

                                                                                were spaced between 200-300m apart and drill holes were spaced between 100 and
                                                          ·    Whether the data spacing and distribution is sufficient to establish        250 m apart.
                                                          the degree of geological and grade continuity appropriate for the Mineral

                                                          Resource and Ore Reserve estimation procedure(s) and classifications applied.    ·    Current drilling aims to infill the spacing to ~120m.

                                                          ·    Whether sample compositing has been applied.                                ·    The current drill holes have reduced the spacing within the Ultimate
                                                                                                                                           Open Pit generated by AMC in April 2024 to ~100m.

                                                                                                                                           ·    Geological distribution is sufficient for inferred resources
                                                                                                                                           throughout the ultimate pit shell (from April 2024). Some parts have
                                                                                                                                           sufficient spacing to be classified as indicated resources.

                                                                                                                                           ·    Significant intercepts are reported for results from 2024 drilling
                                                                                                                                           using the following parameters:

Parameter                               Report 1  Report 2         Report 3
                                                                                                                                           Element                                 Cu        Cu               Zn
                                                                                                                                           Min Cut-off Grade %                     1         0.3%             0.8%
                                                                                                                                           Max Cut-off Grade %                     n/a       n/a              n/a
                                                                                                                                           Min Intercept Length (metres)           n/a       2m               n/a
                                                                                                                                           Maximum Consecutive Internal Waste (m)  2m        2m               2m
                                                                                                                                           Minimum Intercept Grade %               n/a       All (no filter)  All (no filter)
                                                                                                                                           Co-elements in report                   Pb, Zn    Pb, Zn           Cu, Pb

·
 Orientation of data in relation to geological structure  ·    Whether the orientation of sampling achieves unbiased sampling of           ·    Sampling is taken for all intervals with sulphide mineralization.
                                                          possible structures and the extent to which this is known, considering the

                                                          deposit type.                                                                    ·    Sampling adhered to lithological boundaries and additionally the

                                                                                hanging wall and footwall was sampled.
                                                          ·    If the relationship between the drilling orientation and the

                                                          orientation of key mineralized structures is considered to have introduced a     ·    The ore body generally dips 30 to 40 to the SW. In some parts of the
                                                          sampling bias, this should be assessed and reported if material.                 deposit the ore body dips steeper 80. These steeper areas of mineralization
                                                                                                                                           are interpreted to be the result of post mineralization deformation.

                                                                                                                                           ·    The ore body is cut by steep NE faults, these normal faults are
                                                                                                                                           interpreted to throw the lower ore body 20-40 m
 Sample security                                          ·    The measures taken to ensure sample security.                               ·    After samples are cut and bagged, they are sealed with zip ties.
                                                                                                                                           Samples were taken by East Star's senior geologist to ALS Oskemen.

                                                                                                                                           ·    The samples remained sealed until handed over to the laboratory.

                                                                                                                                           ·    Samples in the laboratory follow ALS standard procedures to ensure
                                                                                                                                           sample security.
 Audits or reviews                                        ·    The results of any audits or reviews of sampling techniques and data.       ·    No audits were undertaken for this phase of sampling.

                                                                                                                                           ·    The sample methodology was checked and confirmed by the Competent
                                                                                                                                           Person for the AMC MRE (April 2024)

·

Orientation of data in relation to geological structure

·    Whether the orientation of sampling achieves unbiased sampling of
possible structures and the extent to which this is known, considering the
deposit type.

·    If the relationship between the drilling orientation and the
orientation of key mineralized structures is considered to have introduced a
sampling bias, this should be assessed and reported if material.

·    Sampling is taken for all intervals with sulphide mineralization.

·    Sampling adhered to lithological boundaries and additionally the
hanging wall and footwall was sampled.

·    The ore body generally dips 30 to 40 to the SW. In some parts of the
deposit the ore body dips steeper 80. These steeper areas of mineralization
are interpreted to be the result of post mineralization deformation.

·    The ore body is cut by steep NE faults, these normal faults are
interpreted to throw the lower ore body 20-40 m

Sample security

·    The measures taken to ensure sample security.

·    After samples are cut and bagged, they are sealed with zip ties.
Samples were taken by East Star's senior geologist to ALS Oskemen.

·    The samples remained sealed until handed over to the laboratory.

·    Samples in the laboratory follow ALS standard procedures to ensure
sample security.

Audits or reviews

·    The results of any audits or reviews of sampling techniques and data.

·    No audits were undertaken for this phase of sampling.

·    The sample methodology was checked and confirmed by the Competent
Person for the AMC MRE (April 2024)

Section 2 Reporting of Exploration Results
 Criteria                                                          JORC Code explanation                                                            Commentary
 Mineral tenement and land tenure status                           ·    Type, reference name/number, location and ownership including               ·    The Verkhuba polymetallic deposit is located in the eastern part of
                                                                   agreements or material issues with third parties such as joint ventures,         exploration license 1795-EL (the "License"). The license was issued to
                                                                   partnerships, overriding royalties, native title interests, historical sites,    Discovery Ventures Kazakhstan Limited (the "DVK") on 27 July 2022 for initial
                                                                   wilderness or national park and environmental settings.                          period of 6 years with a possibility of further five years extension subject

                                                                                to reduction of the license area by 40%.
                                                                   ·    The security of the tenure held at the time of reporting along with

                                                                   any known impediments to obtaining a licence to operate in the area.             ·    East Star resources have servitude for exploration from the local
                                                                                                                                                    Akim (administrative head), the license can be explored under these
                                                                                                                                                    agreements.

                                                                                                                                                    ·    There are no known legal or security impediments to obtaining a
                                                                                                                                                    mining license
 Exploration done by other parties                                 ·    Acknowledgment and appraisal of exploration by other parties.               ·    Table of previously completed exploration

Principal author, year    Period     Exploration                                                                     Results
                                                                                                                                                    Yakovlev et al., 1950     1948-1950  Geological mapping                                                              Geological map 1:10,000
                                                                                                                                                    Krysova et al., 1954      1953-1954  Geological mapping                                                              Geological map 1:10,000
                                                                                                                                                    Yusupov et al., 1956      1956       Geological traverses, core drilling                                             Potential of oxidation zone
                                                                                                                                                    Anoshin et al., 1972      1971-1972  Geological, geochemical survey, shallow prospecting shafts and drilling,        Follow-up targets, discovery of new mineralized zones at depth
                                                                                                                                                                       ground IP, EM, magnetics, core drilling
                                                                                                                                                    Rodionov, Gorelova, 1976  1974-1976  Geological traverses, deep drilling                                             Follow-up targets, prognostic resources
                                                                                                                                                    Avdonin et al., 1977      1974-1977  Mapping of Devonian volcanic centres                                            Follow-up targets, maps of distal and proximal volcanic facies
                                                                                                                                                    Nazarov, San'kov, 1986    1982-1986  Geological mapping at scale 1:50,000, ground IP, EM, magnetics, diamond         Prognostic resources
                                                                                                                                                                       drilling on the anomalies
                                                                                                                                                    Radchenko et al., 1987    1985-1987  Grid drilling 800-400 x 400-200 m, geochemical sampling, ground IP, EM,         Follow-up targets, tracing of mineralization
                                                                                                                                                                       magnetics
                                                                                                                                                    Grigorovich et al., 1990  1986-1988  Infill diamond drilling 200 x 400, 100 x 200, 75 x 100-180 m, underground       Completion of drilling database of the Verkhuba deposit for follow-up MRE
                                                                                                                                                                       development (an adit and drives) totalling 3001 m, metallurgical testing
                                                                                                                                                    Ermolaev et al., 1990     1990       Technical economic consideration of Verkhuba deposit                            Mineral resource estimate in P(1)-C(2) categories (GKZ)
                                                                                                                                                    ESR                       2023       Exploration Target estimate                                                     Exploration Target estimate report (JORC)
                                                                                                                                                    ESR                       2024       Drilling of six verification and in-fill holes, topography survey, development  MRE report
                                                                                                                                                                       of lithological model
 Geology                                                           ·    Deposit type, geological setting, and style of mineralisation.              ·    Verkhuba is Volcanogenic Massive Sulphide (VMS) deposit. Historical
                                                                                                                                                    reports indicate that the type is felsic bimodal (or Kuroko-type).

                                                                                                                                                    ·    The mineralization is lenticular massive and disseminated sulphides
                                                                                                                                                    hosted in volcaniclastic units sub horizontal units.

                                                                                                                                                    ·    Mineralisation occurs as a copper rich unit at shallower depths
                                                                                                                                                    (<150 m) and a zinc-copper unit deeper (~200m)

                                                                                                                                                    ·    The area has seen post depositional deformation in the form of
                                                                                                                                                    folding and faulting
 Drill hole Information                                            ·    A summary of all information material to the understanding of the           ·    Drill hole information:
                                                                   exploration results including a tabulation of the following information for
Drillhole Name  X       Y        Z    Dip  Azimuth  Target Depth  Current Depth  Date Started  Date Completed
                                                                   all Material drill holes:                                                        VU_24_DD007A    603754  5591358  402  -70  340      280           270            11/17/2024    11/29/2024

                                                                                VU_24_DD008     603661  5591388  466  -65  335      260           110,5          11/04/2024    11/12/2024
                                                                   o  easting and northing of the drill hole collar                                 VU_24_DD008A    603660  5591397  466  -70  5        260           268,0          12/12/2024    12/19/2024

                                                                                VU_24_DD027A    603488  5591275  494  -90  0        251           251,0          12/03/2024    12/10/2024
                                                                   o  elevation or RL (Reduced Level - elevation above sea level in metres) of

                                                                   the drill hole collar
·    Significant intercepts:

Hole_ID        Intercept
                                                                   o  dip and azimuth of the hole                                                   VU_24_DD_007A  0.7m @ 2.94% Cu and 0.17% Zn from 60.1m

                                                                                        4.0m @ 0.69% Cu from 210.1m including 0.5m @ 2.59% Cu from 211.8m
                                                                   o  down hole length and interception depth                                       VU_24_DD_008A  0.6m @ 1.99% Cu from 54.2m

                                                                                        5.1m @ 1.43% Cu from 170.2m
                                                                   o  hole length.                                                                          0.5m @ 1.63% Cu from 221.5m

                                                                                VU_24_DD_027A  1.4m @ 2.88% Zn and 0.28% Cu from 172.8m
                                                                   ·    If the exclusion of this information is justified on the basis that

                                                                   the information is not Material and this exclusion does not detract from the
·    No material information has been excluded from this report
                                                                   understanding of the report, the Competent Person should clearly explain why
                                                                   this is the case.
 Data aggregation methods                                          ·    In reporting Exploration Results, weighting averaging techniques,           ·    Significant intercepts are reported for results from 2024 drilling
                                                                   maximum and/or minimum grade truncations (e.g. cutting of high grades) and       using the following parameters:
                                                                   cut-off grades are usually Material and should be stated.
Parameter                               Report 1  Report 2         Report 3

                                                                                Element                                 Cu        Cu               Zn
                                                                   ·    Where aggregate intercepts incorporate short lengths of high-grade          Min Cut-off Grade %                     1         0.3%             0.8%
                                                                   results and longer lengths of low-grade results, the procedure used for such     Max Cut-off Grade %                     n/a       n/a              n/a
                                                                   aggregation should be stated and some typical examples of such aggregations      Min Intercept Length (metres)           n/a       2m               n/a
                                                                   should be shown in detail.                                                       Maximum Consecutive Internal Waste (m)  2m        2m               2m

                                                                                Minimum Intercept Grade %               n/a       All (no filter)  All (no filter)
                                                                   ·    The assumptions used for any reporting of metal equivalent values           Co-elements in report                   Pb, Zn    Pb, Zn           Cu, Pb
                                                                   should be clearly stated.

·    No metal equivalents are reported.

                                                                                                                                                    ·    Results for 32 elements received, but only Cu, Pb Zn is reported.
 Relationship between mineralisation widths and intercept lengths  ·    These relationships are particularly important in the reporting of          ·    The ore bodies are generally concordant to lithology (perpendicular
                                                                   Exploration Results.                                                             to core axis). At some depths mineralization occurs as steeply dipping veins

                                                                                and veinlets with limited extent (low angles to core axis).
                                                                   ·    If the geometry of the mineralisation with respect to the drill hole

                                                                   angle is known, its nature should be reported.                                   ·    Drill holes were planned at 65 - 70° towards the north to intercept

                                                                                mineralisation at perpendicular angles. Mineralisation is typically
                                                                   ·    If it is not known and only the down hole lengths are reported, there       sub-horizontal in core indicating that the true thickness is ~90% of the
                                                                   should be a clear statement to this effect (e.g. 'down hole length, true width   thickness of intervals in core. Therefore, one can assume that intervals
                                                                   not known').                                                                     thickness are as drilled.
 Diagrams                                                          ·    Appropriate maps and sections (with scales) and tabulations of              ·    Relevant diagrams have been included in the body text
                                                                   intercepts should be included for any significant discovery being reported
                                                                   These should include but not be limited to a plan view of drill hole collar
                                                                   locations and appropriate sectional views.
 Balanced reporting                                                ·    Where comprehensive reporting of all Exploration Results is not             ·    Grades below the cut off parameters have not been reported with these
                                                                   practical, representative reporting of both low and high grades and/or widths    results. However, the mineralization has been noted within East Star's models
                                                                   should be practiced to avoid misleading reporting of Exploration Results.        and will inform future estimates
 Other substantive exploration data                                ·    Other exploration data, if meaningful and material, should be               ·    Not applicable
                                                                   reported including (but not limited to): geological observations; geophysical
                                                                   survey results; geochemical survey results; bulk samples - size and method of
                                                                   treatment; metallurgical test results; bulk density, groundwater, geotechnical
                                                                   and rock characteristics; potential deleterious or contaminating substances.
 Further work                                                      ·    The nature and scale of planned further work (e.g. tests for lateral        ·    The three completed drill holes totalling 789 m of a planned 1,500 m
                                                                   extensions or depth extensions or large-scale step-out drilling).                of initial drilling. Should the drilling continue to provide satisfactory

                                                                                results a second phase of 3,000 m of infill drilling is planned.
                                                                   ·    Diagrams clearly highlighting the areas of possible extensions,

                                                                   including the main geological interpretations and future drilling areas,         ·    Map of planned and completed drillholes is included in the body text.
                                                                   provided this information is not commercially sensitive.

Geology

·    Deposit type, geological setting, and style of mineralisation.

·    Verkhuba is Volcanogenic Massive Sulphide (VMS) deposit. Historical
reports indicate that the type is felsic bimodal (or Kuroko-type).

·    The mineralization is lenticular massive and disseminated sulphides
hosted in volcaniclastic units sub horizontal units.

·    Mineralisation occurs as a copper rich unit at shallower depths
(<150 m) and a zinc-copper unit deeper (~200m)

·    The area has seen post depositional deformation in the form of
folding and faulting

Drill hole Information

·    A summary of all information material to the understanding of the
exploration results including a tabulation of the following information for
all Material drill holes:

o  easting and northing of the drill hole collar

o  elevation or RL (Reduced Level - elevation above sea level in metres) of
the drill hole collar

o  dip and azimuth of the hole

o  down hole length and interception depth

o  hole length.

·    If the exclusion of this information is justified on the basis that
the information is not Material and this exclusion does not detract from the
understanding of the report, the Competent Person should clearly explain why
this is the case.

·    Drill hole information:

 Drillhole Name  X       Y        Z    Dip  Azimuth  Target Depth  Current Depth  Date Started  Date Completed
 VU_24_DD007A    603754  5591358  402  -70  340      280           270            11/17/2024    11/29/2024
 VU_24_DD008     603661  5591388  466  -65  335      260           110,5          11/04/2024    11/12/2024
 VU_24_DD008A    603660  5591397  466  -70  5        260           268,0          12/12/2024    12/19/2024
 VU_24_DD027A    603488  5591275  494  -90  0        251           251,0          12/03/2024    12/10/2024

·    Significant intercepts:

 Hole_ID        Intercept
 VU_24_DD_007A  0.7m @ 2.94% Cu and 0.17% Zn from 60.1m
                4.0m @ 0.69% Cu from 210.1m including 0.5m @ 2.59% Cu from 211.8m
 VU_24_DD_008A  0.6m @ 1.99% Cu from 54.2m
                5.1m @ 1.43% Cu from 170.2m
                0.5m @ 1.63% Cu from 221.5m
 VU_24_DD_027A  1.4m @ 2.88% Zn and 0.28% Cu from 172.8m

·    No material information has been excluded from this report

 

Data aggregation methods

·    In reporting Exploration Results, weighting averaging techniques,
maximum and/or minimum grade truncations (e.g. cutting of high grades) and
cut-off grades are usually Material and should be stated.

·    Where aggregate intercepts incorporate short lengths of high-grade
results and longer lengths of low-grade results, the procedure used for such
aggregation should be stated and some typical examples of such aggregations
should be shown in detail.

·    The assumptions used for any reporting of metal equivalent values
should be clearly stated.

·    Significant intercepts are reported for results from 2024 drilling
using the following parameters:

 Parameter                               Report 1  Report 2         Report 3
 Element                                 Cu        Cu               Zn
 Min Cut-off Grade %                     1         0.3%             0.8%
 Max Cut-off Grade %                     n/a       n/a              n/a
 Min Intercept Length (metres)           n/a       2m               n/a
 Maximum Consecutive Internal Waste (m)  2m        2m               2m
 Minimum Intercept Grade %               n/a       All (no filter)  All (no filter)
 Co-elements in report                   Pb, Zn    Pb, Zn           Cu, Pb

·    No metal equivalents are reported.

·    Results for 32 elements received, but only Cu, Pb Zn is reported.

Relationship between mineralisation widths and intercept lengths

·    These relationships are particularly important in the reporting of
Exploration Results.

·    If the geometry of the mineralisation with respect to the drill hole
angle is known, its nature should be reported.

·    If it is not known and only the down hole lengths are reported, there
should be a clear statement to this effect (e.g. 'down hole length, true width
not known').

·    The ore bodies are generally concordant to lithology (perpendicular
to core axis). At some depths mineralization occurs as steeply dipping veins
and veinlets with limited extent (low angles to core axis).

·    Drill holes were planned at 65 - 70° towards the north to intercept
mineralisation at perpendicular angles. Mineralisation is typically
sub-horizontal in core indicating that the true thickness is ~90% of the
thickness of intervals in core. Therefore, one can assume that intervals
thickness are as drilled.

Diagrams

·    Appropriate maps and sections (with scales) and tabulations of
intercepts should be included for any significant discovery being reported
These should include but not be limited to a plan view of drill hole collar
locations and appropriate sectional views.

·    Relevant diagrams have been included in the body text

Balanced reporting

·    Where comprehensive reporting of all Exploration Results is not
practical, representative reporting of both low and high grades and/or widths
should be practiced to avoid misleading reporting of Exploration Results.

·    Grades below the cut off parameters have not been reported with these
results. However, the mineralization has been noted within East Star's models
and will inform future estimates

Other substantive exploration data

·    Other exploration data, if meaningful and material, should be
reported including (but not limited to): geological observations; geophysical
survey results; geochemical survey results; bulk samples - size and method of
treatment; metallurgical test results; bulk density, groundwater, geotechnical
and rock characteristics; potential deleterious or contaminating substances.

·    Not applicable

Further work

·    The nature and scale of planned further work (e.g. tests for lateral
extensions or depth extensions or large-scale step-out drilling).

·    Diagrams clearly highlighting the areas of possible extensions,
including the main geological interpretations and future drilling areas,
provided this information is not commercially sensitive.

·    The three completed drill holes totalling 789 m of a planned 1,500 m
of initial drilling. Should the drilling continue to provide satisfactory
results a second phase of 3,000 m of infill drilling is planned.

·    Map of planned and completed drillholes is included in the body text.

 

Appendix 1: Assays Results

 

 Hole_ID        Depth_From  Depth_To  Cu_pct  Pb_pct   Zn_pct  Notes
 VU_24_DD_007A  0           10.2                               not assayed
 VU_24_DD_007A  10.2        16                                 no significant intercept
 VU_24_DD_007A  16          17        0.175   0.0004   0.011   HCORE
 VU_24_DD_007A  17          20.6                               no significant intercept
 VU_24_DD_007A  20.6        21.6      0.137   0.0006   0.0585  HCORE
 VU_24_DD_007A  21.6        28.1                               no significant intercept
 VU_24_DD_007A  28.1        38                                 not assayed
 VU_24_DD_007A  38          42                                 no significant intercept
 VU_24_DD_007A  42          43        0.166   0.0009   0.037   HCORE
 VU_24_DD_007A  43          48.5                               no significant intercept
 VU_24_DD_007A  48.5        58.1                               not assayed
 VU_24_DD_007A  58.1        60.1                               no significant intercept
 VU_24_DD_007A  60.1        60.8      2.94    0.0647   0.173   HCORE
 VU_24_DD_007A  60.8        61.5      0.265   0.0908   0.253   HCORE
 VU_24_DD_007A  61.5        74.2                               no significant intercept
 VU_24_DD_007A  74.2        74.9      0.1975  0.0004   0.0483  HCORE
 VU_24_DD_007A  74.9        80.5                               no significant intercept
 VU_24_DD_007A  80.5        81.3      0.129   0.0004   0.0297  HCORE
 VU_24_DD_007A  81.3        84.2                               no significant intercept
 VU_24_DD_007A  84.2        186.5                              not assayed
 VU_24_DD_007A  186.5       189                                no significant intercept
 VU_24_DD_007A  189         203.2                              not assayed
 VU_24_DD_007A  203.2       210.1                              no significant intercept
 VU_24_DD_007A  210.1       211       0.908   0.0006   0.0238  HCORE
 VU_24_DD_007A  211         211.8                              no significant intercept
 VU_24_DD_007A  211.8       212.3     2.59    0.001    0.0385  HCORE
 VU_24_DD_007A  212.3       213.1                              no significant intercept
 VU_24_DD_007A  213.1       214.1     0.621   0.0004   0.0229  HCORE
 VU_24_DD_007A  214.1       218.4                              no significant intercept
 VU_24_DD_007A  218.4       270                                not assayed
 VU_24_DD_008A  0           14.4                               not assayed
 VU_24_DD_008A  14.4        15.9                               no significant intercept
 VU_24_DD_008A  15.9        16.9                               not assayed
 VU_24_DD_008A  16.9        17.4                               no significant intercept
 VU_24_DD_008A  17.4        18        0.286   0.0003   0.0078  HCORE
 VU_24_DD_008A  18          18.5                               no significant intercept
 VU_24_DD_008A  18.5        38.9                               not assayed
 VU_24_DD_008A  38.9        40.4                               no significant intercept
 VU_24_DD_008A  40.4        43.8                               no data
 VU_24_DD_008A  43.8        44.3                               no significant intercept
 VU_24_DD_008A  44.3        44.9      0.317   0.0003   0.0146  HCORE
 VU_24_DD_008A  44.9        45.4      0.106   0.0003   0.0225  HCORE
 VU_24_DD_008A  45.4        51.5                               not assayed
 VU_24_DD_008A  51.5        53.5                               no significant intercept
 VU_24_DD_008A  53.5        54.2      0.304   0.0003   0.0249  HCORE
 VU_24_DD_008A  54.2        54.8      1.985   0.0011   0.0247  HCORE
 VU_24_DD_008A  54.8        55.7      0.259   0.0003   0.0102  HCORE
 VU_24_DD_008A  55.7        57.2                               no significant intercept
 VU_24_DD_008A  57.2        58        0.275   0.0002   0.0093  HCORE
 VU_24_DD_008A  58          59                                 no significant intercept
 VU_24_DD_008A  59          60.5      0.1215  0.0002   0.0108  HCORE
 VU_24_DD_008A  60.5        61.5      0.41    0.0003   0.0115  HCORE
 VU_24_DD_008A  61.5        62        0.1365  0.0002   0.0089  HCORE
 VU_24_DD_008A  62          62.5      0.1175  0.0002   0.0089  HCORE
 VU_24_DD_008A  62.5        63.5      0.264   0.0002   0.008   HCORE
 VU_24_DD_008A  63.5        64.4      0.225   -0.0002  0.0083  HCORE
 VU_24_DD_008A  64.4        67.4                               no significant intercept
 VU_24_DD_008A  67.4        69.7                               not assayed
 VU_24_DD_008A  69.7        71.1                               no significant intercept
 VU_24_DD_008A  71.1        72        0.125   0.0003   0.0095  HCORE
 VU_24_DD_008A  72          72.5                               no significant intercept
 VU_24_DD_008A  72.5        78.3                               not assayed
 VU_24_DD_008A  78.3        87                                 no significant intercept
 VU_24_DD_008A  87          129.8                              not assayed
 VU_24_DD_008A  129.8       130.3                              no significant intercept
 VU_24_DD_008A  130.3       131.7                              no significant intercept
 VU_24_DD_008A  131.7       141.7                              not assayed
 VU_24_DD_008A  141.7       145.6                              no significant intercept
 VU_24_DD_008A  145.6       146.2     0.1975  0.0005   0.0113  HCORE
 VU_24_DD_008A  146.2       152                                no significant intercept
 VU_24_DD_008A  152         166.1                              not assayed
 VU_24_DD_008A  166.1       170.2                              no significant intercept
 VU_24_DD_008A  170.2       170.8     0.306   0.0133   0.026   HCORE
 VU_24_DD_008A  170.8       172       1.02    0.0074   0.0484  HCORE
 VU_24_DD_008A  172         173.1     0.965   0.0081   0.0374  HCORE
 VU_24_DD_008A  173.1       174.2     2.42    0.0062   0.0621  HCORE
 VU_24_DD_008A  174.2       175.3     1.97    0.0051   0.0834  HCORE
 VU_24_DD_008A  175.3       177.3                              no significant intercept
 VU_24_DD_008A  177.3       203.5                              not assayed
 VU_24_DD_008A  203.5       205.5                              no significant intercept
 VU_24_DD_008A  205.5       214.3                              no data
 VU_24_DD_008A  214.3       215.6                              no significant intercept
 VU_24_DD_008A  215.6       216.1     0.119   0.0004   0.0167  HCORE
 VU_24_DD_008A  216.1       221                                not assayed
 VU_24_DD_008A  221         221.5                              no significant intercept
 VU_24_DD_008A  221.5       222       1.63    0.0027   0.0206  HCORE
 VU_24_DD_008A  222         222.5                              no significant intercept
 VU_24_DD_008A  222.5       268                                not assayed
 VU_24_DD_027A  0           47.9                               not assayed
 VU_24_DD_027A  47.9        49.5                               no significant intercept
 VU_24_DD_027A  49.5        73.2                               not assayed
 VU_24_DD_027A  73.2        98                                 no significant intercept
 VU_24_DD_027A  98          105                                not assayed
 VU_24_DD_027A  105         111.9                              no significant intercept
 VU_24_DD_027A  111.9       164.5                              not assayed
 VU_24_DD_027A  164.5       166.2                              no significant intercept
 VU_24_DD_027A  166.2       172.3                              not assayed
 VU_24_DD_027A  172.3       172.8                              no significant intercept
 VU_24_DD_027A  172.8       173.5     0.273   0.0112   3.59    HCORE
 VU_24_DD_027A  173.5       174.2     0.278   0.0042   2.16    HCORE
 VU_24_DD_027A  174.2       174.8                              no significant intercept
 VU_24_DD_027A  174.8       185.3                              not assayed
 VU_24_DD_027A  185.3       188                                no significant intercept
 VU_24_DD_027A  188         194.5                              not assayed
 VU_24_DD_027A  194.5       196.9                              no significant intercept
 VU_24_DD_027A  196.9       221.8                              not assayed
 VU_24_DD_027A  221.8       228                                no significant intercept
 VU_24_DD_027A  228         251                                not assayed

 

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