Rock Chip Results from Dalny Licence, Kazakhstan

RNS Number : 7242Q

East Star Resources PLC

30 June 2022

 

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.

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30 June 2022

East Star Resources Plc

("East Star" or the "Company")

Rock Chip Results from Dalny Licence, Kazakhstan

East Star Resources Plc (LSE:EST), the Kazakhstan-focused gold, rare earths and copper explorer, is pleased to announce rock chip assay results from samples taken during geological surveys conducted over the Alatagyl target in April 2022 on the Dalny licence on the Chu-Ili Gold Belt in central Kazakhstan.

Highlights:

· Multiple mineralised quartz veins identified, co-incident with large gold in soil anomaly

· All quartz vein samples contained gold mineralisation

· Assayed samples on outcropping veins up to 27.4 g/t Au

· >1,300 m of strike mapped at the Alatagyl occurrence

Alex Walker, East Star CEO, commented:

"We are excited to be able to report on high-grade assay results from fieldwork conducted on the Dalny licence area. Sampling of quartz veins returned assay grades up to 27.4g/t Au in the Alatagyl zone.

The intrusive related Alatagyl target begins at surface and has a very large surface footprint; as such, combined with historical drill results, it has the potential to be a large orebody if the grade and quantity of veins are proven up in drilling.

With successful drilling results already identifying target areas in the Apmintas licence, including Novoe (63m @ 4.51g/t), Eshkilitau II (14m @ 2.54g/t) and historic results from Southern Shabdar (24.9m @ 2.86g/t), we are very excited to add yet another potential orebody to our growing portfolio."

A supplementary version of this announcement with images can be found at http://www.rns-pdf.londonstockexchange.com/rns/7242Q_1-2022-6-29.pdf

Background

The Alatagyl group of occurrences consists of the Alatagyl North, Alatagyl, Alatagyl South and Astronomicheskiy target areas.  Alatagyl South and Astronomicheskiy have been identified from magnetic signature and mineralized float including altered intrusive rock and vein quartz and quartz/sulphide stockwork material, but are largely obscured by overburden so did not form a part of this study.

The Alatagyl gold occurrence is confined to the hinge zone of an anticlinal fold that was intruded by Middle Devonian granites. North-south and east-west striking quartz vein zones are located in the contact of a felsite stock. Sedimentary rocks around the stock were subjected to sericitization, carbonatization, and silicification over a width of 50 to 200 m. The mineralised vein stockwork covers approximately 1,300 m x 700 m and occurs in the hinge zone of an anticlinal fold. The quartz veins and host rocks at the contact contain disseminated pyrite, arsenopyrite and gold.

In 1966, a total of 5,000 rock chip samples and 108 channel samples were collected. In the rock chip samples the gold grades varied from 0.03 to >10 g/t Au. In the 53 channel samples, the gold grade was between 0.1-5.6 g/t Au. At the occurrence, a large gold in soil anomaly was noted. The gold content in soil samples reached 0.8 g/t Au.

The occurrence contains three mineralised zones of east-west and north-west strike. Vein zones were traced for 250-390 m along strike with a width of 20 to 100 m. From those veins, artisanal gold miners recently dug several shallow pits and stockpiled quartz vein material for metallurgical tests.

In an initial reconnaissance trip, the Company's geological team took a first set of 8 rock chip samples at Alatagyl around historical trenches which are often fully rehabilitated. The composite quartz vein samples returned with gold grades between 0.027 and 27.4 g/t Au, and thus confirm the prospectivity of the area. The cluster of samples with significant gold mineralisation in the west (1.27 g/t to 27.4 g/t) clearly point to a high grade mineralised system.

A follow-up exploration campaign for Alatagyl will be planned for later in 2022.

For further information visit the Company's website at www.eaststarplc.com , or contact: 

East Star Resources Plc

Alex Walker, Chief Executive Officer

Tel: [phone] (via Vigo Consulting)

Peterhouse Capital Limited (Corporate Broker and Placing Agent)

Duncan Vasey / Lucy Williams

Tel: [phone]

Vigo Consulting (Investor Relations)

Ben Simons / Oliver Clark

Tel: [phone]

About East Star Resources Plc

East Star Resources is focused on the discovery and development of gold, copper, and rare earth deposits in Kazakhstan. With an initial five licences covering 1,442 km ²  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 a joint venture with the state mining company.

Follow us on social media:

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

Twitter: https://twitter.com/EastStar_PLC

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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