Business
Farm-In to IAC Heavy Rare Earths Project
Farm-In to IAC Heavy Rare Earths Project.
About this update from East Star Resources Plc
[{"type":"text","content":"\n \n THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF REGULATION 2014/596/EU WHICH IS PART OF DOMESTIC UK LAW PURSUANT TO THE MARKET ABUSE (AMENDMENT) (EU EXIT) REGULATIONS (SI 2019/310) (\"UK MAR\"). UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION (AS DEFINED IN UK MAR) IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.\n \n 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.\n \n \n 18 May 2022\n \n \n \n East Star Resources Plc\n \n \n \n (\"East Star\" or the \"Company\")\n \n \n \n Farm-In to Ionic Adsorption Clay Heavy Rare Earths Project, Kazakhstan\n \n \n \n East Star Resources Plc (LSE:EST), the Kazakhstan-focused gold, copper and now rare earths explorer is pleased to announce a farm-in to the Talairyk Ionic Adsorption Clay\n (IAC) Heavy Rare Earth Element (HREE) project in the Kostanay region of Kazakhstan (the \"Licence\").\n \n \n \n Highlights:\n \n \n \n · Low-cost entry to a geologically de-risked IAC hosted HREE deposit\n \n · 19,962 tonnes of contained Total Rare Earth Oxides (TREO) including 4,300 tonnes of yttrium oxide at average of 7.5m from surface (1994 resource model)\n \n · Average 786g/t TREO in IAC profile up to 58.6m thick - same geochemical signature as the IACs of South China from where most of the world's HREEs are currently supplied\n \n · Database includes 128 core holes and 61 auger holes for 3,755 samples\n \n · Exploration upside within the Licence across similar weathering profiles over prospective basement lithologies and with potential for regional expansion\n \n · IAC peers generally have lower CAPEX and lower OPEX than hard rock rare earth projects and a higher average basket price of >$80 kg REO*\n \n · Farm-in terms up to 90% ownership:\n \n o No cash payments\n \n o First tranche of US$250,000 in shares for 51% after expenditure of US$500,000 including planned drilling and initial metallurgical test work\n \n o Second tranche of US$250,000 in shares for 75% after expenditure of a further US$500,000 which will include scoping study level feasibility assessment\n ...