East Star Resources PLC (LSE:EST) said five top priority targets were identified from a helicopter-borne electromagnetic (HEM) survey over the company's five volcanic-hosted massive sulphide (VHMS) licences in the Rudny Altai Belt in Kazakhstan.
Four of the five 'Priority 1' targets generated are considered drill-ready, said the London-listed exploration company. Three of the targets are on licences 100%-owned by East Star and two are on the 80%-owned licences held in a joint venture with state-owned mining company, Tau-Ken Samruk.
"We are extremely encouraged by these results,” said East Star chief executive Alex Walker.
“Our team has spent numerous hours on the EM data, satellite imagery and in the field to firm up these EM targets to drill-ready status. We have also progressed much of the approvals process to ensure we are ready to drill them in the new year as soon as practical.”
Three 'Priority 2' targets were also generated, which require minor field work before being drill-ready, and 40 lower priority targets were also identified that need further desktop and field work.
The targets for the HEM survey, conducted between May and July 2022, were VHMS ores, represented in the region by occurrences of lead-zinc, copper-zinc, and copper-iron ore.
“VHMS deposits tend to form multiple mounds/lenses within deposits, and so exploring near known deposits is a highly recommended exploration strategy for new discoveries,” said Walker. “Having such quality targets next to mines like Pokrovskoye - which was an open pit mine with grades close to 25% copper equivalent - is very exciting.
“Though these targets are by no means guaranteed discoveries, given the quality and size of some of the targets, the drill campaign has the potential to be a very high impact one," he concluded.
The average ore grades at Pokrovskoye, which was mined from 1822 to 1979, were 11.5% copper, 3.3% lead and 12% zinc.