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Astana, Kazakhstan • 16 August, 2022 | 17:35

Kazakh Mines Become Strategic amid Supply Shortage of Rare Earth Elements

East Star Resources wins four new licenses to explore deposits in Kazakhstan

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kapital.kz
kapital.kz

The UK-based East Star Resources won three licenses to explore the volcanogenic massive sulfide belt on the Rudniy Altai, and one to explore rare earth elements in Kostanay Region, QazMonitor reports.

The company highlights that Altai licenses incorporate two historic operating (extremely high grade), copper-lead-zinc mines (Pokrovskoye and Talovskaya), and one known deposit (Verkhubinskoye), and many historical mineral occurrences. They comprise 111.7 sq km and are contiguous with the company's existing Rudny Altai belt licenses, Novo 1 and Novo 2. Geological exploration has already started with some rock chip samples collected and sent for assay.

The best place to find a new mine is around an existing one, so expanding our footprint to include more licences with historical mines is extremely exciting…We are still collecting data on these areas, both in the field and via historical reports which, along with the processing of our HEM data, will dictate our exploration programme going forward.We are grateful to the Akimat of Shemonaikha for their support of our applications and intended work plan, having received their required letters of support in just a matter of weeks after meeting with them.

Alex Walker, East Star CEO
otp.tools.investis.com
otp.tools.investis.com

As for the rare earth elements, East Star informs that the new license allows to explore 59 blocks (Talairyk 1) amounting to 134.7 sq km at the Talairyk heavy rare earth elements deposit (contiguous with the company’s 10 sq km Talairyk Licence). These elements are required for several high-tech devices like high-performance magnets for wind turbines or lighting products, for instance, energy saving bulbs.

...We will immediately begin the application process to commence field work so the exploration program can align with that of the Talairyk deposit, where we aim to be drilling in H1 next year.The size of the Talairyk deposit is already significant and could provide the scale required for feasibility work, however, considering the demand growth and lack of security of supply for rare earth elements, coupled with the location providing direct rail access to Europe via the Caspian Sea, growing the resource could make this deposit globally strategic."

Alex Walker, East Star CEO

East Star Resources PLC is focused on the discovery and development of gold, rare earth, and copper deposits in Kazakhstan. With an initial seven licenses covering 1,694 sq km in three mineral-rich districts, East Star is undertaking an intensive exploration program, applying modern geophysics to discover minerals in levels that were not previously explored. The Company also intends to further expand its license 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.

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