Chu-Ili Gold Belt Drilling Update
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.
9 November 2022
East Star Resources Plc
("East Star" or the "Company")
Chu-Ili Gold Belt Drilling Update, Kazakhstan
East Star Resources Plc (LSE:EST), the Kazakhstan-focused gold, rare earths and copper explorer, is pleased to announce the completion of a three and a half month diamond core drilling programme on the Company's two Chu-Ili orogenic gold belt licences in Kazakhstan.
Highlights:
· Total of 4,947m of diamond core drilling across both licences comprising:
o 17 boreholes totalling 3,088m on the Novoe, Southern Shabdar and Eshkilitau II targets on the Apmintas Licence
o 19 boreholes totalling 1,860m on the Alatagyl target on the Dalny licence
· Programme was designed to test mineralisation along strike and down dip from previous intersections from both East Star's reverse circulation drilling programme in 2021 and historical drilling at Southern Shabdar and Alatagyl
· Visual inspection of core shows promising signs of potentially gold bearing mineralisation across all targets
· Company intends to release assay results on a target-by-target basis for completeness
Alex Walker, East Star CEO, commented:
"We are pleased with the pace and quality of the drill programme and encouraged by visual indicators in core samples. By doing oriented diamond core drilling, our team can get a strong understanding of the geometry of the structures controlling the mineralisation. This will form the basis for the design of future work programmes and assist with targeting additional areas on the huge and prospective Apmintas Licence. Shallow recordings of sulphides on the Alatagyl target also demonstrate a good indication of potentially gold bearing mineralisation.
Core is being logged, cut, and weighed, and some are undergoing density measurements and XRF analysis before being sent for assay preparation at the laboratory and then for assay. Lab turnaround times in Kazakhstan are variable and we intend to release assay results on a target-by-target basis to provide complete information to the market for each target.
I am proud of our hardworking team and contractors for their execution of an efficient and safe programme. As we progress through the assay phase, we will continue to undertake the quality control to ensure an efficient process without compromising on quality."
For further information visit the Company's website at 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 / 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.
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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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