East Star Resources Plc (LSE:EST) shares moved higher on Wednesday, thanks to the release of an independent JORC-compliant Exploration Target for the Rulikha Deposit in eastern Kazakhstan.
The estimate sees the potential for over 550,000 tonnes of contained copper, using an upper limit of 23 million tonnes at 2.40% copper equivalent.
East Star's estimate covers near-surface mineralisation beginning at around 30 metres depth and outlines multiple payable metals, including zinc, silver, lead and gold.
In a statement, the explorer said the Rulikha area features extensive infrastructure, with rail, roads and power lines located nearby.
“We're delighted to add a second and significant multi-element advanced exploration target to our portfolio,” said chief executive Alex Walker.
He added that, if converted to a resource, Rulikha could materially expand the company’s copper inventory.
In London, East Star shares were up around 5% changing hands at 2.15p.