Drone-Magnetics Identifies Multiple Gold Targets

RNS Number : 1753I

East Star Resources PLC

13 April 2022

 

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.

13 April 2022

East Star Resources Plc

("East Star" or the "Company")

Drone-Magnetics Identifies Multiple Gold Targets on Apmintas Licence

East Star Resources Plc (LSE:EST), the Kazakhstan-focused gold and copper explorer, is pleased to announce the completion of processing of 380km² of close spaced drone magnetics flown between July and October 2021 over the Apmintas Licence in the Chu-Ili orogenic gold belt.

Highlights:

· 22 targets highlighted for follow up work - most of which are under 10-30m of cover

· Majority of targets represent structural settings for classic orogenic gold mineralisation including duplex structures, flexures and step-over zones along second and third order structures

· 9 targets with historical gold occurrences including Novoe, Southern Shabdar and Eshkilitau II with previously announced high grade gold intersections from drilling

· Another 9 targets have existing historical geochemical anomalies of known gold pathfinder elements including arsenic, antimony, bismuth and copper

· Follow up work is planned for infill soil sampling and close spaced ground magnetics to refine targets prior to drilling in Q2 2022

A supplementary version of this announcement with an image can be found at: 

http://www.rns-pdf.londonstockexchange.com/rns/1753I_1-2022-4-12.pdf

Alex Walker, East Star CEO, commented:

"The Apmintas magnetic drone survey has delivered magnetic targets representative of classic orogenic systems over areas of known high grade gold such as Novoe and Southern Shabdar as well as several areas that have not been subject to historic drilling despite having recorded soil geochemical anomalies. Historic exploration under relatively thin cover was limited and this offers a fantastic opportunity for the Company to make significant new discoveries.

"We intend now to conduct geochemical surveys and close spaced ground magnetics over new priority targets before the commencement of drilling in Q2 2022 which will test targets previously undrilled along with extensions of areas with known high grade gold intersections.''

Magnetic Survey Summary

The UAV-borne high resolution magnetic survey was flow between July and October 2021 and covered 380km². Flights were conducted at average altitude of 35m over the terrain with line spacing of 100m. The total coverage of the Apmintas survey was 4,567 line kilometers.

The survey was flown by Geoscan Group with the interpretation conducted by Earthmaps Consulting (''Earthmaps''), a company which specialises in structural interpretation of geophysical data in orogenic gold systems. Earthmaps was tasked with providing a detailed sub-outcrop structural and lithological interpretation including identification and prioritisation of prospective gold mineralisation targets or target zones and a recommendation for further follow-up procedures of these targets.

Targeting

Priority targets include Target 22, which contains the Novoe discovery hole AP_008 of 63m @ 4.51 g/t and Target 15, a north trending cross structure across the Ergenektin corridor containing the Southern Shabdar target where historical drilling intersected:

· 24.9m @ 2.86 g/t Au

· 8.2m @ 13.0 g/t Au

· 5m @ 4.89 g/t Au  

· 1m @ 24.8 g/t Au

· 2m @ 39.3 g/t Au and

· 2m @ 39 g/t Au

The greater depth of knowledge gained from structural understanding of target areas will assist in planning the Company's 2022 drilling campaign, which will test several key targets across the Dalny and Apmintas Licences.

Additional priority geophysical and geological targets are listed below. These targets will be subject to geochemical sampling where positive results will be followed by close spaced high resolution ground magnetics prior to drilling in Q2 2022:

Target 4: Linear splay in the Ergenektin West Thrust with an existing arsenic and antimony anomaly and partial cover

Target 6: 4.5 km² northeast trending cross structure in the Ergenektin West Thrust

Target 7: 7 km² northeast trending cross structure incorporating the Eshkilitau II target which includes gold intersections of:

· 1m @ 7.86 g/t Au  

· 1m @ 7.00 g/t Au

· 2.8m @ 4.67 g/t Au

· 1m @ 4.62 g/t Au

· 4m @ 2.04 g/t Au and 1.3m @ 8.2 g/t

· 6m @ 1.6 g/t

· 2m @ 28.8 g/t Au  

· 7m @ 1.34 g/t Au and 1m @ 13.61 g/t Au

Target 8: 400m long linear, north striking anomaly along the Ergenektin corridor with arsenic and bismuth geochemical anomalies

Target 16: 2.5 km² step over zone along the Ergenektin West Thrust

Target 17: 3.9 km² northeast trending linear and cross, step-over anomaly along the Ergenektin West Thrust with a historic gold occurrence

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 base metal deposits in Kazakhstan. With an initial four licences covering 1,432km² in two mineral rich belts, East Star is undertaking an intensive exploration programme, applying modern geophysics to discover gold, copper, and base metals in levels that were not explored. The Company also intends to 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.

 

END

 

 

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