East Star Resources PLC (LSE:EST) reported positive results from an analysis of rock chips collected from its five volcanogenic massive sulphide (VMS) licences in the Rudny Altai region of Kazakhstan.
The results showed exceptionally high grades of 17.3% copper, more than 10% lead, 0.4% zinc, 0.37 grammes a tonne (g/t) gold and 121.5g/t silver in the rock chips from Talovskaya, an historic mine.
Elsewhere, grades of 4.8% copper and 29.2 g/t silver in rock chips were returned from the Verkhubinskoye deposit and 0.82% copper, 1.35% lead and 5.7 g/t silver in rock chips from Rulyevskoye, another historic gold mine.
“The sheer number of now verified targets confirm what we have been hoping to deliver to East Star shareholders: significant optionality on a number of potential company-making discoveries,” said chief executive Alex Walker.
"Our rock chip analyses verify and provide additional geological context to historical data, confirming the rich nature of these targets.
“The Talovskaya target for example was originally mined in 1775 with the last mining taking place in 1896 and the last exploration in 1992. The rock chips collected equate to more than 22% CuEq [copper equivalent] and although it's difficult to know what remains at this target, it is similar to the historical run-of-mine grade and is a further indication of its potential to host un-depleted ore bodies.”
London-listed East Star said it plans to conduct further work on the highest ranked targets in September. It has ordered additional historical reports and will continue to process electromagnetic data for final targeting before drilling, which it expects to start in the first half of 2023.