Drilling Update, Kazakhstan
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.
18 August 2022
East Star Resources Plc
("East Star" or the "Company")
Drilling Update, Kazakhstan
East Star Resources Plc (LSE:EST), the Kazakhstan-focused gold, rare earths and copper explorer, is pleased to provide an interim update on the ongoing Diamond Drilling programme on the Apmintas Licence on the Chu-Ili Orogenic Gold Belt in Kazakhstan.
Highlights:
· Four boreholes totalling 970 metres have been drilled on the Novoe target
· All four Novoe boreholes recorded wide intersections of quartz diorite containing interspersed quartz veining and sulphides with some more intense sections of alteration
· Visual inspection of the core corroborates Reverse Circulation drilling from September 2021, which contained disseminated sulphides in host rock, demonstrating the potential for greater tonnage outside of the higher-grade gold veins
· First three boreholes have been transported to Karaganda where they will undergo cutting and sample preparation before being sent for assay
· Due to the presence of chalcopyrite and sphalerite some sampling will also include assay for other elements such as copper, lead and zinc
· Rig now drilling on the Southern Shabdar target where the firstborehole is complete and the second is underway
Alex Walker, East Star CEO, commented:
"The drillers and our geological team are making great progress with some shifts at 85m/day while maintaining excellent core recovery. Visual inspection of the core indicates exactly what we had hoped and expected to see, with consistent sulphides over large intersections as well as quartz veins which have the potential to carry much higher grades as they have done in historical surface samples and in our RC drilling. The presence of chalcopyrite was a pleasant surprise and will help to build our geological understanding of the deposit and the region.
We have now moved onto the Southern Shabdar target where historical drilling yielded high grades and wide intersections in oxide, close to surface, so we're excited to be drilling this target for the first time.''
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 / Tara Benniman
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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