The world of natural resource exploration is witnessing a surge in innovation and strategic investment, particularly evident in BHP Xplor’s 2024 Global Exploration Program. BHP, a leading global resources company, has recently unveiled its latest cohort of six projects, carefully selected from a staggering 500 applicants. Notably, two of these promising projects are based in Kazakhstan, a country rich in mineral resources and increasingly significant in the global energy transition narrative.
BHP’s involvement goes beyond financial support. They bring a wealth of expertise in exploration, ecology, environmental impact, and governance. Access to a network of service providers and international experts enhances East Star Resources’ capabilities.
Pallas Resources Revolutionising Mineral Exploration with Innovative Strategies
Pallas Resources benefits from a substantial financial boost, receiving up to US$500,000 in non-dilutive funding from the BHP Xplor program. This funding is pivotal for accelerating exploration activities over a defined area of interest, particularly in the pursuit of significant copper systems. Importantly, this agreement does not entail equity acquisition by BHP in either Pallas or any of its projects.
Pallas Resources, a Central Asian explorer, is redefining mineral exploration with its disciplined and strategic approach. Focusing on the under-explored yet highly prospective regions of Kazakhstan, Pallas is at the forefront of uncovering large-scale systems of copper, gold, nickel, and lithium. These efforts are not merely exploratory but a leap towards realizing the untapped potential of regions that were once renowned for their Tier 1 Soviet-era discoveries.
East Star Resources pursuing two parallel exploration strategies
Kazakhstan holds enormous potential for copper exploration, akin to Western Australia in the 1970s. With two world-class copper projects already identified in a vast area, the odds are that more remain undiscovered. East Star Resources is pursuing two parallel exploration strategies. While the VMS (Volcanogenic Massive Sulfide) projects remain a focus due to their excellent return on invested capital, the grant from BHP will fund the copper porphyry exploration. This dual approach maximizes their chances of success in a burgeoning copper market.
BHP recognises this prospectivity and views East Star Resources as a valuable partner in unlocking this potential awarding the company with $500,000 in grant funding.
References:
Interview with Alex Walker the CEO of East Star Resources following news that the company have received $500,000 in grant funding from BHP Xplor. https://www.youtube.com/watch?v=moa-GEWA6w8
Business Wire News release: Pallas Resources Selected to Participate in the BHP Xplor Program
https://www.businesswire.com/news/home/20240123572930/en/
BHP Xplor announces second program helping to accelerate critical resources exploration
https://www.bhp.com/news/media-centre/releases/2024/01/bhp-xplor-announces-second-program-helping-to-accelerate-critical-resources-exploration
