Business
Verkhuba Copper Deposit Update
Verkhuba Copper Deposit Update.
About this update from East Star Resources Plc
[{"type":"text","content":"\n\n11 March 2024\nEast Star Resources Plc\n(\"East Star\" or the \"Company\")\nVerkhuba Copper Deposit Update\n \nIncreased confidence in historical data and development potential - Mineral Resource Estimate commissioned\n \nEast Star Resources Plc (LSE:EST), the Kazakhstan focused copper exploration and resource development company, is pleased to provide an update regarding resource modelling of the Verkhuba copper deposit on the Rudny Altai Volcanic Massive Sulphide (\"VMS\") belt, Kazakhstan, following extensive fieldwork (including drilling) in 2023.\nUpdated Resource Modelling\nEast Star has updated its resource model for the Verkhuba copper deposit using more accurate data derived from 12 months of detailed fieldwork, which included geological mapping, a Light Detection and Ranging (\"LIDAR\") topographical survey, and drilling. The results of the remodelling have provided the Company with a higher degree of confidence in the historical data and the development potential of the deposit. As such, and in discussion with the Company's independent experts, AMC Consultants (\"AMC\"), East Star has instructed AMC to undertake the work required to produce a maiden JORC Inferred resource. This work is expected to take around one month and will be ready prior to the commencement of the 2024 field season.\nAlex Walker, East Star CEO, commented:\n\"Detailed work by our technical team, in conjunction with AMC, over the last 12 months has culminated in East Star being on the brink of delivering its maiden JORC Inferred resource for Verkhuba. We believe Verkhuba is an attractive copper deposit due to its initial open pit potential and proximity to existing processing infrastructure in the region, which could enable us to get into production quickly and with a much lower capital requirement. Drilling in the upcoming season will focus on further resource definition to convert the open pit area to JORC Indicated status as well as further testing the continuity of the underground ore bodies to assess development potential. We expect this to precede either a scoping study or a pre-feasibility study to demonstrate the low-cost development potential of the Verkhuba deposit.\n \nIn addition to progressing with Verkhuba, East Star intends to drill several other VMS targets in the Rudny Altai licences, which have b...