In a notable advancement for the mining sector, East Star Resources Plc (LSE:EST), a key player in the exploration of copper and gold in Kazakhstan, has successfully acquired a new exploration licence, designated as 3631-EL. This licence covers an area to the north of the Rulikha Deposit, known for its induced-polarization (IP) anomaly.
The importance of this new licence is considerable. With the entire IP anomaly area now under East Star’s control, the company is set to embark on the next phase of exploration.
Historical drilling data from this newly acquired area will play a crucial role in East Star’s ongoing evaluation of the Rulikha Deposit, enabling a thorough geological assessment of the surrounding region.
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Insights from historical drilling
Noteworthy drilling results in the Rulikha area
Historical drilling has produced significant findings, highlighting the potential of the Rulikha area for mineral exploration. Below are key intersections from previous drilling activities:
- 11.4 metersat9.8% zinc,3.1% copper, and1.1% leadfrom196.6 meters
- 6.9 metersat17.6% zinc,1.0% copper, and3.3% leadfrom237.4 meters
- 11.2 metersat5.5% zinc,0.32% copper, and1.2% leadfrom236.0 meters
- 8.7 metersat5.4% zinc,0.3% copper, and0.3% leadfrom256.2 meters
A total of 180 historical drill holes are currently under analysis to establish an Exploration Target and assess the Reasonable Prospects for Economic Extraction (RPEE).
CEO’s perspective on exploration prospects
Alex Walker, CEO of East Star Resources, expressed optimism about the new exploration licence. He stated, “This licence significantly enhances our VMS opportunities, enabling us to explore a second Soviet-era deposit within our East Region holdings. While we expect challenges in the permitting process due to its proximity to a settlement, the site’s advantageous location—less than 2 kilometers from an existing rail line and just 11 kilometers from an underfed mill—heightens our excitement regarding its potential economic viability.”
Walker stated that analyzing extensive historical data will be crucial for assessing the feasibility of economic extraction before any on-ground exploration begins. His goal is to replicate the success achieved at the Verkhuba deposit through a cost-effective exploration campaign, aiming to convert the exploration target into a JORC Resource.
Overview of the Rulikha deposit
The Rulikha Deposit is situated within the larger Rulikhinskoe-Vydrikhinskoe Ore Field, approximately 33 kilometers northwest of East Star’s wholly owned Verkhuba Deposit. This deposit holds a JORC Mineral Resource Estimate (MRE) of 20.3Mt at 1.16% copper, 1.54% zinc, and 0.27% lead. The exploration of Rulikha has primarily focused on its zinc, copper, and lead content, indicating a substantial potential for mineral recovery.
Exploration activities at the Rulikha site began in the 1940s and continued until the 1980s. During this period, significant efforts included geological mapping, geophysical surveys, and numerous drilling campaigns. Key milestones in the exploration history encompass:
Historical exploration of the Rulikha Deposit
- 1940s-1950s:Initial prospecting identified polymetallic mineralization, leading to the compilation of resources.
- 1960s-1970s:Geological and geophysical refinements outlined the deposit’s structure.
- 1989-1992:Extensive drilling efforts evaluated deeper mineralization potential.
Despite considerable exploration, the last major assessment took place in the early 1990s. At that time, several boreholes were drilled, and extensive sampling was undertaken. The Rulikha Deposit continues to show potential for VMS-polymetallic mineralization, primarily comprising copper, zinc, and lead, along with traces of gold and silver.
East Star Resources is entering a significant phase with the Rulikha Deposit. By integrating historical data with contemporary exploration techniques, the company aims to uncover new insights in this mineral-rich area. This strategic approach could facilitate future mining projects.
