Announcement PDF RNS Number : 6466P East Star Resources PLC 13 February 2023 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. 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. 13 February 2023 East Star Resources Plc ("East Star" or the "Company") Apmintas Licence Drilling Results, Kazakhstan Greater than 10 km of strike potential with demonstrated broad mineralised intervals and high-grade intersections East Star Resources Plc (LSE:EST), the Kazakhstan-focused mineral explorer, is pleased to provide results from diamond drilling on the Apmintas Licence of the Chu-Ili Orogenic Gold Belt in Kazakhstan. Results show anomalous gold mineralisation in all three target areas with potential economic grades in the Eshkilitau II and Southern Shabdar targets. Highlights: · · · · · Anomalous gold confirmed across all targets Potential economic grade in the Eshkilitau II and Southern Shabdar targets Eshkilitau II shows potential for a mineralised system with a strike of >1 km along a fault zone Untested >10 km of strike potential along the fault controlled Eshkilitau trend Best gold intersections include: · Southern Shabdar o AP_061 - 3 m @ 1.43 g/t from 48.9m and 1 m @ 32.15 g/t from 94.5 m o AP_062 - 4 m @ 1.57 g/t from 72 m o AP_067 - 3 m @ 2.11 g/t from 186 m · Eshkilitau II o AP_071 - 31 m @ 1.0 g/t from 61 m (including 6 m @ 1.83 g/t from 72 m and 7 m @ 1.52 g/t from 85 m) o AP_072 - 4 m @ 2.35 g/t from 59 m o AP_073 - 31m @ 1.27 g/t from 24 m (including 1 m @ 14.01 g/t from 24 m and 5 m @ 2.46 g/t from 43 m) · Detailed structural logging underway with analysis to determine next steps to progress exploration Alex Walker, East Star CEO, commented: "The results of the drilling demonstrate gold bearing systems in all three target areas. Eshkilitau II shows potential for an extensive mineralised system with a strike of more than 1 km along a fault zone. High-grade intersections at Southern Shabdar (32.15 g/t Au) and Eshkilitau (14.01 g/t Au) demonstrate the existence of high-grade zones within the mineralised systems while gold occurrences mapped over 10 km of the Eshkilitau trend demonstrate the exploration upside within the region. The Company has commenced detailed structural logging over mineralised sections of oriented core to better understand structural controls and timing of mineralisation. This will expand our knowledge of the mineralisation system for the planning of subsequent exploration.'' agram Description automatically generated with low confidence Figure 1 Over 10km of potential strike along the Eshkilitau trend Eshkilitau II The Eshkilitau group of occurrences are testing a possible orogenic gold system, bound to the Ergenektin fault zone, related to quartz veins in sedimentary rocks and form a northwest striking trend with Altynsai gold deposit to the southeast. The total length of the trend is about 10 km historically explored by 77 trenches and seven prospecting shafts, over three Eshkilitau group occurrences. The gold grades in trench samples range from 0.1 (below detection limits) to 2.0 g/t Au with two samples at Eshkilitau II returning 168.0 and 200.8 g/t Au. Gold grades from drilling often reported above 2 g/t Au and some intersections demonstrated mineralised intervals greater than 5 m (Figure 2). Future exploration aims to further confirm these results as only historical reports document the results (no historical material was available to validate). Diagram, generated map Description automatically Figure 2: Eshkilitau II demonstrating potential economic grades over 1 km of strike The Eshkilitau II target was drill tested with AP_071, AP_072 AP_073, AP_074, AP_075, and AP_076, totalling 632.4 m to a maximum depth of 125.6 m. The drilling intersected very coarse grained polymictic metaconglomerate with lesser medium to coarse grained sandstones. The metasediments are weathered to a depth of ~50 m depth and are strongly altered by intervals of alternating chlorite and hematite (Figure 3). A picture containing diagram Description automatically generated Figure 3: Alternating alteration and deformed lithology in AP_071 The entire metasedimentary package is cut by several generations of cross-cutting quartz veins with altered selvages. The structural deformation of these lithologies is notably more complex with generations of cross cutting veins, faults, joints, and a seemingly more ductile deformation regime than the other target areas - Southern Shabdar and Novoe in the Apmintas licence. The samples show that several intervals carry grade including: · AP_071 - 31 m @ 1.0 g/t from 61 m (including 6 m @ 1.83 g/t from 72 m and 7 m @ 1.52 g/t from 85 m) · AP_072 - 4 m @ 2.35 g/t from 59 m · AP_073 - 31m @ 1.27 g/t from 24 m (including 1 m @ 14.01 g/t from 24 m and 5 m @ 2.46 g/t from 43 m) Currently, East Star is undertaking an analysis of the genesis of the mineralisation, including the lithological and structural controls on mineralisation. The outcomes of this analysis will determine the next steps in the 2023 exploration programme. Southern Shabdar The Southern Shabdar target is based over a historical drill target. A total of 77 drill holes drilled as fences to an average depth of 90 m with a maximum depth of 300.5 m were previously drilled. The historical drill holes reported gold values of 1 - 38.6 g/t over 2 m sample intervals. In 2022, Southern Shabdar was drill tested with AP_061, AP_062, AP_063, AP_064, AP_066, AP_067, and AP_068, totalling 1,572.7 m. The geology intersected is generally grey medium grained diorites, granodiorites, and lesser dark grey andesites. The host rocks are weathered to a depth of ~ 70 m depth. The diorites and andesites are generally unaltered except for intervals cut by veinlets and stockworks. Several intervals of quartz veining are noted with chlorite-epidote-sericite alteration associated with the veinlets as selvages in the narrowly constrained lamina. The diorites are frequently cut by a later fine grained ultramafic intrusive that displaces the diorites with quartz veining. 2022 drilling demonstrated intervals carrying significant grade including: · AP_061 returned 3 m @ 1.43 g/t from 48.9 m and 1 m @ 32.15 g/t from 94.5 m · AP_062 returned 4 m @ 1.57 g/t from 71 m · AP_067 returned 3 m @ 2.11 g/t from 182 m (including 1 m @ 5.17 g/t) The alteration and mineralisation are similar to other structurally controlled gold deposits in the region, and so structural analysis on the portions of the core that are orientated requires evaluation against the local and regional structures, geophysics, and geochemistry to understand if the area has potential for significant mineralisation. Novoe The Novoe target has several pits dug by artisanal workers targeting NE-SW striking veins and veinlets dipping at ~70 SE. AP_052, AP_0521, AP_053, and AP_054 were drilled, totalling 882 m to a maximum depth of 331 m. The geology intersected is generally pale medium grained sandstones, weathered to a depth of ~50 m, intruded by a medium grained granodiorite. The sandstones are generally unaltered except for intervals cut by veinlets and stockworks. Several small intervals of quartz veining are noted. These portions tend to have chlorite-epidote-sericite alteration associated with the veinlets in intervals up to 15 m in width. Most of the core with veining was sent for assay by initial spectral analysis followed by fire assay confirmation of high-grade gold results. The assay results show broad zones of low-grade mineralisation but only a few small intervals that carry significant grades. These intervals are associated with increased density of alteration, veinlets/veinlets in stockworks, and sulphide minerals associated with veining. AP_052 and AP_0521 targeted the veins mined by artisanal workers at depth. These veins were seemingly intersected by the Company's RC drilling in 2021 where AP_08 intersected 19 m @ 14.36 g/t Au. However, these near-surface veins were not intersected by AP_052 and AP_0521, demonstrating significant variability within the vein system. AP_052 did intersect a small quartz vein stockwork interval at ~70 - 74 m depth which did not return significant grade. Given the apparent structural complexity of the Novoe target, the Company intends to undertake structural analysis on the portions of the core that are orientated and evaluate against the local and regional structures, geophysics, and geochemistry to understand if the area has potential for significant mineralisation that has been previously missed. Laboratory and Assay Methodology The analyses were conducted at Tsentre Geoanalit in Karaganda, Central Kazakhstan. This laboratory is accredited by the State Standard of the Republic of Kazakhstan. The accreditation certificate was registered in the State Register of the State Certification System of the Republic of Kazakhstan on June 14, 2005 (No. КZ 7100000.06.10.00373). The laboratory is not accredited by the international ISO17025 standard. A number of flame atomic absorption spectrometers of various generations are in operation (PerkinElmer AAnalyst200, PerkinElmer Aanalyst400 and PerkinElmer PinAAcle 900F) linked to Winlab32 AA Flame - Manual Analysis Control software. The Apmintas samples were dissolved in aqua regia and subject to initial spectrograph analysis followed by analysis of gold using AAS (using one of several PerkinElmer PinAAcle 900F units). Samples were prepared at the Tsentrgeolsmyemka facility near Karaganda. Sample preparation comprises weighing of the sample, drying, crushing to -1 mm, splitting of 300 g of sample by cone and quarter, and milling using one of several rod mills. A sieve is available to check the crushing quality. Milling takes approximately 5 hours and the quality of milling is determined by tactile test. Half of the milled sample is placed in a hand labelled paper envelope and dispatched to the analytical facility and the other half is kept on-site. The reject material is kept for five years. Cores are kept in a shed at a different site in Karaganda. A QA/QC programme was used to evaluate the quality of the 2804 total assay results. In total 137 QA/QC samples (or ~5%) were inserted into the sample stream including - 45 CRMs, 46 duplicates and 46 blanks. The QA/QC samples returned satisfactory results demonstrating that the data are acceptable for early stage exploration. It should be noted that the assays are likely to be under reporting gold concentrations as the aqua regia solution is unlikely to completely dissolve the gold in the samples. This is supported by the generally slightly lower than expected gold concentrations seen in the CRM analyses. For further information visit the Company's website at www.eaststarplc.com, or contact: East Star Resources Plc Alex Walker, Chief Executive Officer Tel: +44 (0)20 7390 0234 (via Vigo Consulting) Peterhouse Capital Limited (Corporate Broker and Placing Agent) Duncan Vasey / Lucy Williams Tel: +44 (0) 20 7469 0930 Vigo Consulting (Investor Relations) Ben Simons / Peter Jacob Tel: +44 (0)20 7390 0234 About East Star Resources Plc East Star Resources is focused on the discovery and development of gold, rare earth, and copper deposits in Kazakhstan. With an initial nine licences covering 1,687 square kilometres in three mineral rich districts, East Star is undertaking an intensive exploration programme, applying modern geophysics and out-of-the-box geological concepts to discover minerals under cover and at depths not previously explored. The Company also intends to further expand its licence portfolio in Kazakhstan. East Star's management are based permanently on the ground, supported by local expertise, and joint ventures with the state mining company. Follow us on social media: LinkedIn: https://www.linkedin.com/company/east-star-resources/ Twitter: https://twitter.com/EastStar_PLC Subscribe to our email alert service to be notified whenever East Star releases news: www.eaststarplc.com/newsalerts The person who arranged for the release of this announcement was Alex Walker, CEO of the Company. Competent Person's Statement Scientific or technical information in this disclosure related to exploration was reviewed by Dr Tremain Woods, a full-time employee of MSA Minerals Consulting Ltd. Dr Woods is a member in good standing with the Geological Society of South Africa. He has sufficient experience that is relevant to the commodity, style of mineralization or type of deposit under consideration and activity which he is undertaking to qualify as a Competent Person under the JORC code (2012 Edition). 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