Significant Exploration Target: Rulikha Deposit
East Star Resources Plc has announced a significant Independent JORC-Compliant Exploration Target for the Rulikha Deposit, estimating an upper limit of 23 million tonnes at 2.4% copper equivalent, potentially containing over 550,000 tonnes of copper. This deposit, located on the company's 100%-owned tenements in Kazakhstan, shows near-surface, high-grade copper mineralization starting at approximately 30 meters depth, with multiple payable metals including zinc, silver, lead, and gold. While land access approvals are in place, further environmental approvals are required, and challenges related to water, local settlements, and infrastructure need to be addressed before drilling can commence.
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East Star Resources Plc (LSE: EST), the Kazakhstan-focused gold and base metals explorer, is pleased to announce an Independent JORC-Compliant Exploration Target (the "Exploration Target") for the Soviet-era Rulikha Deposit. The Rulikha Deposit is located primarily on East Star's 100%-owned tenements in the East Region of Kazakhstan. The estimate contains an upper limit of 23Mt @ 2.4% copper equivalent (CuEq), constrained by an open pit using the processing recoveries and metal prices contained in Table 2 below. Using the upper limit assessment, the deposit has the potential to contain over 550,000 tonnes of copper; nearly double the CuEq metal of the Company's Verkhuba Copper Deposit.
The town of Rulikha and the district of Shemonaikha have already provided East Star with the required land access approvals to drill, however, further environmental approvals are still required.
Highlights:
Near-surface, high-grade copper
o Vein 1 contains very high Cu grades and significant thickness
o Mineralisation begins from approximately 30 m depth resulting in a low strip ratio
Multiple payable metals
o Contributions from Zn, Ag, Pb and Au improve optionality and potential economics
Excellent infrastructure
o Rail (<2km), roads, power lines, existing concentrators within trucking/rail distance
Large mineralised system
o Numerous mineralised lenses over a 1.9 km strike
o Additional untested anomalies (such as the Rulikha North IP target) provide significant upside beyond current modelling
- Water, the local settlement, and moving infrastructure are three hurdles which need to be overcome for permitting drilling and any future mining of this deposit
- The full report can be found here: https://www.eaststarplc.com/presentationsandreports
Table 1: Exploration Target, Upper and Lower Limit
| Veins 1-3 | Tonnage | Cu (%) | Contained Cu (t) | Au (g/t) | Au (oz) | Zn (%) | Zn (t) | Ag (g/t) | Ag (oz) |
|---|---|---|---|---|---|---|---|---|---|
| Lower Limit | 15,000,000 | 1% | 150,000 | 0.1 | 48,000 | 0.80% | 120,000 | 5 | 2,400,000 |
| Upper Limit | 23,000,000 | 2% | 460,000 | 0.3 | 222,000 | 1.50% | 345,000 | 15 | 11,000,000 |
Independent Consultant Recommendations to Convert to a Mineral Resource
- Verification/twin drilling of Vein 1 and upper lens system
- Infill drilling to confirm continuity and reduce spacing
- Density measurements
- Metallurgical sampling
- Regulatory approvals for water-protection areas
Alex Walker, CEO of East Star Resources, commented:
"We're delighted to add a second and significant multi-element advanced exploration target to our portfolio. If converted to a JORC resource, Rulikha could increase our copper inventory by three times, while the economic modelling, based on the limited historic drill data available, provides an early indication of an extremely robust operation. East Star will need to undertake the significant consulting work to advance this project, and we look forward to working with the government and local communities to realise the shared benefits such a development could bring."
Figure 1: Two Priority Target Areas Requiring Verification Drilling
Figure 2: Samples from Site Containing Copper Oxides and Sulphides Directly Above Target 1
| In-situ copper oxide (malachite) at Target 1 | In-situ sulphides at Target 1 | |
|---|---|---|
| Table 2: Pit Optimisation Parameters | ||
| Value | Unit | |
| Ore Mining Cost | 2.00 | USD$/t |
| Waste Mining Cost | 2.00 | USD$/t |
| Mining Loss | 0.0 | % |
| Mining Dilution | 0.0 | % |
| Processing cost (Flotation) | 20 | USD$/t |
| Processing recoveries: | ||
| Copper | 90 | wt % |
| Zinc | 70 | wt % |
| Lead | 50 | wt % |
| Gold | 50 | wt % |
| T&R Cost | 4.0 | USD$/t |
| G&A Cost | 2.0 | USD$/t |
| Element price: | ||
| Copper | 9,300 | USD$/t |
| Zinc | 2,500 | USD$/t |
| Lead | 1,750 | USD$/t |
| Gold | 3,000 | USD$/oz |
| Payability | ||
| Copper | 90 | wt % |
| Zinc | 60 | wt % |
| Lead | 60 | wt % |
| Gold | 50 | wt % |
| Royalties: | ||
| Copper | 8.6 | wt % |
| Zinc | 10.5 | wt % |
| Lead | 10.4 | wt % |
| Gold | 10.5 | wt % |
| Copper Equivalent (Cu_Eq) Factor: | ||
| Copper | 1.000 | |
| Zinc | 0.209 | |
| Lead | 0.105 | |
| Gold | 0.580 | |
| Ore Density | 2.9 | t/m 3 |
| Waste Density | 2.9 | t/m 3 |
| Final Pit Slopes | 40 | degrees |
| Cutoff Grade | 0.50 | Cu_Eq % |
Reference
Nichols, R (2025) Estimation and Reporting of an Exploration Target for the Rulikha Deposit, East Kazakhstan. [Accessed 20 November 2025]. Available at: https://www.eaststarplc.com/presentationsandreports
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The person who arranged for the release of this announcement was Alex Walker, CEO of the Company.
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