Verkhuba Copper Deposit - Transaction Discussions
East Star Resources Plc is in advanced discussions for a potential joint venture concerning its Verkhuba Copper Deposit in Kazakhstan, which could lead to a partner with mine and plant construction and operating experience developing the deposit in exchange for a majority interest in the license. The company also reported a maiden JORC Mineral Resource Estimate of 20.3 million tonnes at 1.16% copper, 1.54% zinc, and 0.27% lead for a volcanogenic massive sulphide (VMS) prospect, alongside a second VMS exploration target of up to 23 million tonnes at 2.4% copper equivalent, and a strategic gold exploration joint venture with Endeavour Mining valued at over $25 million.
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East Star Resources Plc (LSE:EST), the Kazakhstan-focused gold and base metals explorer, announces it is in advanced transaction discussions which may or may not lead to a joint venture agreement in respect of the Verkhuba Copper Deposit ("Verkhuba") in the East Region of Kazakhstan. The transaction, if concluded, may result in a partner, with mine and plant construction and operating experience, developing Verkhuba in return for a majority interest in the licence. There can be no certainty that any transaction will proceed, or as to the terms of any such transaction.
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The person who arranged for the release of this announcement was Alex Walker, CEO of the Company.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.