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East Star Resources PLC on Monday said the remaining assays from its drilling programme on the Apmintas licence on the Chu-Ili gold belt in central Kazakhstan confirmed the presence of anomalous gold.
Shares were down 15% at 3.89 pence each on Monday morning in London.
The Kazakhstan-focused gold and copper explorer explained that the actual drilling was undertaken in September.
The miner said that it was able to confirm anomalous gold across all occurrences of the Eshkilitau target of the licence.
This confirmed a gold-bearing system with a strike of more than four kilometres.
What's more, East Star was able to confirm anomalous gold and gold-bearing system at other targets.
The best results included 2.5 grammes per tonne of gold at 14 meters from 40 meters downhole and 5.0 grammes per tonne of gold at 5 meters from 44 meters, at hole AP 021 in the Eshkilitau 2 target.
East Star said that its team is currently on the site and conducting soil sampling and ground magnetics to firm up collar locations for the upcoming drill programme. The programme is expected to start in the ‘early third quarter’ of this year.
‘The disseminated gold in AP 021 at Eshkilitau 2 is fantastic to see,’ Chief Executive Alex Walker commented.
‘The anomalous gold from other parts of the licence demonstrate that gold-rich fluid migrated through a significant portion of the Apmintas Licence where we are already aware of several local trap structures such as Novoe and Southern Shabdar and now Eshkilitau II and the results from the already-completed magnetic survey indicate we have a number of other exciting targets undercover.’
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