RCS - GETECH Group plc - Contract Win

GetechAnnouncement

23/04/2024 07:15

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RNS Number : 5907L  GETECH Group plc  23 April 2024

23 April 2024

Contract Win

Getech Engaged by East Star Resources to Locate Porphyry Copper in Kazakhstan

Getech, a world-leading locator of subsurface resources, is pleased to
announce it has won a new contract with East Star Resources, a London-listed
company focused on copper exploration, to locate porphyry copper deposits in
Kazakhstan. The project is backed by the BHP Xplor 2024 accelerator programme
and is the first time Getech's Globe geoscience platform
(https://getech.com/getech-explore/products/technology/globe/) will be used to
locate porphyry copper.

The contract win builds on the Company's joint venture agreement with East
Star Resources, announced last month, to explore for sedimentary copper
deposits in Kazakhstan. For this contract aimed at locating porphyry copper,
the Company will receive a fee for exploration services.

Combining its Globe geoscience platform
(https://getech.com/getech-explore/products/technology/globe/) market-leading
potential fields data with East Star Resource's technical expertise and access
to local data, Getech will conduct a comprehensive structural interpretation
of the area of interest to produce a series of palaeo-tectonic reconstructions
and cross-sections demonstrating the local geology. Building on this
foundation and integrating Getech's extensive mineral occurrence database and
remote sensing data, the company will employ sophisticated machine learning
techniques to locate prospective areas for commercial porphyry copper
deposits. These insights will help East Star prioritise exploration targets
and identify new areas for exploration.

East Star is one of the six participants in the BHP Xplor 2024 accelerator
programme, designed to support early-stage mineral exploration companies in
finding the critical resources needed to support the energy transition. Getech
is a member of the BHP Xplor network of external industry experts having
supported Asian Battery Minerals in locating nickel in Mongolia as part of the
programme in 2023.

Since joining the BHP Xplor programme, East Star has acquired two exploration
licenses for copper porphyry in Kazakhstan and plans to secure several more
within its areas of interest.

Global demand for copper is rising steadily and is only expected to accelerate
as copper is crucial for green technologies and electrification. As known
copper sources deplete, the discovery of new deposits is essential to meet
growing demand. These porphyry copper deposits, typically characterised by
their relatively large size and low extraction costs, are pivotal in
supporting the energy transition.

Richard Bennett, CEO at Getech, commented:

"It is particularly pleasing to be selected for repeat projects with both the
BHP Xplor accelerator programme, and East Star. Importantly, I believe
awareness, of our ability to make mineral exploration less risky and more
cost-effective, is growing amongst explorers like East Star who are looking
for assets to support the energy transition. This is a key part of our
strategy and while this is our first contract to locate porphyry copper, given
its value as a resource, we are hopefully that it will be the first of many."

Alex Walker, CEO at East Star, commented:

"I believe Kazakhstan mirrors Western Australia in the 1970s in terms of
mineral potential. We're advancing on three fronts: a VMS deposit, a
BHP-backed porphyry exploration programme and a JV exploring for
sedimentary-hosted copper, with Getech involved in the latter two. Given
Getech's unparalleled database and innovative approach, I'm confident they
will enhance our exploration efficiency."

 

Notes to editors:

 

About Getech

Getech is a leading locator of the energy and mineral resources essential
for the world's energy transition. Getech's unique data encompassing the most
recent 400 million years of Earth's evolution, coupled with its geoscience
expertise, AI-driven analytics and extensive GIS capabilities, enables the
company to provide valuable and actionable insights to support resource
discovery and development.

The company's client portfolio is wide-ranging, from governments,
municipalities, natural resources and energy companies to consumer goods and
computing services companies, all striving to become energy and minerals
self-sufficient and drive towards net zero.

Founded in 1994 Getech is listed on the Alternative Investment Market of the
London Stock Exchange ("AIM"), with ticker symbol GTC.

For further information, please visit www.getech.com (http://www.getech.com/)
.

About East Star

East Star Resources is focused on the discovery and development of copper
resources in Kazakhstan. With eight licences covering 1,190.3 km² in three
mineral rich districts of Kazakhstan, East Star is undertaking exploration
programmes, 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.

 

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