MINEX Forum

Tag: Copper Exploration

  • East Star Resources Announces Significant Progress on Copper Exploration in Kazakhstan

    East Star Resources Announces Significant Progress on Copper Exploration in Kazakhstan

    East Star Resources Plc (LSE: EST), a company focused on copper exploration in Kazakhstan, has shared promising updates from its exploration strategy at the Snowy licence. The project, located on the Paleozoic Balkash-Ili volcanic arc, received initial funding through a US$500,000 BHP Xplor grant.

    Recent soil sampling efforts have revealed two significant anomalies. The first is a 5 km by 1 km gold anomaly aligned with the alteration patterns observed in multispectral imagery and situated near an artisanal gold mine. The second anomaly spans 2 km by 2 km and exhibits strong molybdenum (Mo) and bismuth (Bi) signals, exceeding thresholds by over 10 times for Mo and 100 times for Bi, indicative of potential porphyry systems.

    Chris van Wijk, East Star’s Technical Director, remarked, “The geochemical results align with regions known for hydrothermal activity, strengthening the case for further exploration. These findings showcase the value of integrating multispectral imaging and soil geochemistry in mineral exploration.”

    The next steps include field verification and geological mapping to identify mineralisation characteristics. If supportive data is obtained, the company plans to proceed with Induced Polarity (IP) surveys to target disseminated sulphides.

    During the 2024 field season, East Star collected 1,469 soil samples, revealing two targets, the Central Target and East Target. The Central Target displayed anomalies in Mo and Bi, consistent with porphyry systems. The East Target showed elevated gold and silver levels, aligning with epithermal vein systems observed in nearby artisanal operations.

    Systematic soil geochemistry, combined with multispectral analysis using ASTER data, has been pivotal in refining exploration areas. The analysis highlighted silica lithocaps with distinct geochemical signatures, further substantiating their potential.

    East Star’s strategy underscores its commitment to leveraging advanced techniques in uncovering mineral resources in Kazakhstan, paving the way for future exploration milestones.

  • Canadian Investor Completes Field Studies Near Ekibastuz, Plans Drilling Campaign

    Canadian Investor Completes Field Studies Near Ekibastuz, Plans Drilling Campaign

    A Canadian investor has concluded field studies on prospective sites near Ekibastuz and plans to begin exploration drilling in early 2025, reports Kursiv.

    Arras Minerals, which has been exploring copper and gold deposits in Kazakhstan for several years, is focusing on areas in the Pavlodar region. In 2023, the company surveyed blocks spanning 1,700 km², collecting 35,000 samples. These exploration efforts are concentrated near existing Arras Minerals projects, including Beskauga, Tau, and Elemess.

    The primary site, covering 1,300 km², lies adjacent to the Bozshakol copper mine operated by KAZ Minerals, located 56 km northwest of Ekibastuz. A secondary site, situated 90 km southeast of the city, has been divided into the Norgubekand Akkuduk projects.

    Arras Minerals plans to continue drilling operations in 2025. The company holds the third-largest license portfolio for copper and gold exploration in Kazakhstan, following major international players Rio Tinto and Fortescue.

    Meanwhile, another major project in the Pavlodar region is underway. By the end of 2026, Fonet Er-Tai Mining aims to launch a hydrometallurgical plant capable of producing up to 5,000 tons of cathode copper annually, further boosting the region’s metallurgical industry.

  • Solidcore Resources Extends $96 Million Loan to Bai Tau Minerals for Copper and Gold Exploration in Kazakhstan

    Solidcore Resources Extends $96 Million Loan to Bai Tau Minerals for Copper and Gold Exploration in Kazakhstan

    Solidcore Resources plc (“Solidcore”) has announced a $96 million investment loan to Bai Tau Minerals (BTM), a junior exploration company specializing in copper and gold projects in Kazakhstan. This partnership aims to unlock the country’s vast copper resource potential while providing Solidcore with strategic access to key mineral assets.

    BTM’s portfolio comprises over 15 copper-porphyry and gold projects spanning 1,000 km², including Besshoky in the Karaganda region and East Balkhash-2 in Jetisu, two advanced projects with significant resource potential. The three-year loan, secured by a pledge of interest in BTM and its subsidiaries, will fund further exploration activities.

    Vitaly Nesis, Group CEO of Solidcore Resources plc, described the agreement as an industry-recognized financing mechanism. He highlighted the deal’s value in providing risk-adjusted access to green metal resources and BTM’s expertise in mineral exploration.

    The loan also grants Solidcore a right-of-first-refusal (ROFR) on any ownership transactions involving BTM or its subsidiaries, ensuring strategic exclusivity on key assets. Furthermore, broad access to BTM’s financial and technical data will facilitate accurate project valuation and support future acquisition or investment decisions.

    This partnership positions Solidcore to benefit from potentially large copper resource discoveries with limited downside risk, enhancing its strategic focus on green metals for global markets.

     

  • Anglo Asian Mining Unveils JORC-Compliant Resource Estimate for Garadag Copper Deposit

    Anglo Asian Mining Unveils JORC-Compliant Resource Estimate for Garadag Copper Deposit

    On Tuesday, Anglo Asian Mining (LON: AAZ), a leading producer of gold, silver, and copper in Azerbaijan, announced an independent JORC-compliant mineral resource estimate (MRE) for its Garadag copper deposit. The estimate was carried out by Mining Plus UK, revealing a total resource of approximately 900,000 tonnes of copperhosted within 285 million tonnes of ore, with an average grade of 0.32% copper. This includes 304,300 tonnes of copper in the indicated category, derived from 86.9 million tonnes of ore.

    The MRE, the first for the Garadag deposit, was based on 113 third-party drill holes, covering a total of 25,620 meters. To further refine the estimate, Anglo Asian is planning additional infill and extensional drilling, focusing on 26 legacy holes drilled by AzerGold that have not yet been assayed. The company also intends to explore further to gauge the full extent of the mineralization at Garadag.

    “We are excited to confirm the significant potential of the Garadag copper deposit through this independent resource estimate,” said Stephen Westhead, vice-president of Anglo Asian. He noted that the copper output from Garadag would play a crucial role in the company’s strategy to evolve into a mid-tier copper producer with multiple assets.

    Since 2021, Anglo Asian has been expanding its presence in Azerbaijan, acquiring three new copper concessions, including the large-scale Garadag porphyry deposit and the adjacent Xarxar copper deposit. In return, Anglo Asian will relinquish its rights to the Soyudlu gold mine, situated on the border of Azerbaijan’s Kelbajar district and Armenia.

    Anglo Asian’s stock saw a 3.5% increase in London trading, closing with a market capitalization of £102.82 million ($138 million).

  • Joint Venture “Kogodai” Plans to Resume Copper Exploration in Eastern Kazakhstan

    Joint Venture “Kogodai” Plans to Resume Copper Exploration in Eastern Kazakhstan

    The joint venture “Kogodai,” holding a license since 2013 for the exploration of copper and associated metals in the Kogodai area of the Kurchum district of the East Kazakhstan region, intends to resume copper exploration in the region. Between 2014 and 2023, the company conducted geological exploration, resulting in the estimation of mineral resources categorized as inferred. Now, “Kogodai” plans to conduct geological exploration in all previously established and assumed 10 mineralization zones of the Kogodai site, the Lotoshnoye site, two geophysical anomalies, and continue the exploration of the Kogodai deposit. This information was disclosed in materials for public hearings scheduled in the Maraldy village of the Kurchum district on April 12.

    The geological exploration area covers 52.2 square kilometers. Search routes on foot will be executed within the contractual territory. Drilling is planned to be carried out using mobile drilling rigs of the SKB-5/LF-90 type with the use of Boart Longyear drill bits, which will require 59.6 thousand liters of diesel fuel in 2024.

    For the power supply of the field camp, three gasoline generators FPG 9800E FORZA will be used. The fuel consumption of one generator will be 2.78 tons per year.

    Coring drilling of exploration wells is envisaged for exploring ore bodies at depth. Most of the planned wells will be drilled to a depth of 200-250 meters. The total volume of coring drilling will include 20 wells with a total volume of 3000 linear meters.

    Cores extracted from core barrels (samples in the form of cylindrical columns) will be washed and placed in core boxes. As the wells progress, a label indicating the depth will be attached after each run.

    The participants of the JV “Kogodai” are the social entrepreneurship corporation “Yertis” (belongs to the financial management of the akimat of the East Kazakhstan region) and the company “Orsu Metals Kazakhstan,” a subsidiary of Harrsin Management B.V., whose ultimate beneficiaries are not disclosed.

    In the 2010s, the copper projects Kogodai and Karchiga in the East Kazakhstan region were developed by the British company Orsu Metals, registered on AIM (one of the platforms of the London Stock Exchange). The company faced difficulties in financing projects and delisted its shares from AIM in 2016.

    Earlier this year, Citibank forecasted that an increase in green energy targets would increase copper demand by an additional 4.2 million tons by the end of the decade. In this case, copper prices could reach $15,000 per ton by 2025, which is 75% higher than the price of copper at the beginning of January. On April 9th, investment bank analysts noted that the price of copper on the London Metal Exchange approached $9,500 per ton, trading near 15-month highs.

    Last summer, the village of Maraldy was often mentioned in the headlines due to the dissatisfaction of the local population with the plans of the company “VSAM Production” to build a gold mining plant for 250 thousand tons of ore per year. Near the village, geological exploration companies Maralicha and Maralicha-Gold were searching for gold. Gold mining was planned to be conducted by open-pit mining – local residents feared the contamination of springs and the river by harmful substances, as well as other possible issues due to mining activities.

  • East Star Resources PLC Secures Second Copper Porphyry Exploration License in Kazakhstan

    East Star Resources PLC Secures Second Copper Porphyry Exploration License in Kazakhstan

    East Star Resources PLC, a company focused on copper exploration and resource development in Kazakhstan, has unveiled the acquisition of its second copper porphyry exploration license as part of its new copper porphyry exploration strategy. This initiative, initially funded through a US$500,000 grant from the BHP Xplor program, marks a significant advancement in the company’s expansion efforts.

    The newly acquired 121 square kilometer tenement displays historical soil anomalies, indicating promising potential for hosting a copper porphyry deposit. Situated approximately 150 kilometers north of the sizable Kounrad open pit copper mine and smelter, with reserves estimated at around 800 million tons at 0.62% Cu and up to 0.76 g/t Au, the area encompasses a 6-kilometer-long and 3-kilometer-wide silica lithocap.

    Under the partnership with BHP Xplor, East Star is engaged in regional target generation for copper porphyry deposits, primarily focusing on the Balkash-Ili magmatic arc, which hosts significant deposits like Kounrad and Aktogai-Aidarly. By leveraging modern mineral systems concepts and advanced analytical techniques, East Star aims to secure additional exploration licenses within the targeted area for future fieldwork.

    The BHP Xplor grant covers all license fees and initial work programs, including field activities, desktop evaluations, and administrative costs. The program will be overseen by East Star with input from BHP and a team of experts.

    Chris van Wijk, Technical Director at East Star, expressed enthusiasm about the progress, stating, “We are thrilled to have secured our second copper porphyry license under the BHP Xplor program. This underscores our ability to swiftly formulate compliant applications and highlights the efficiency of the Kazakh ministerial process in granting new licenses.”

  • Foreign investors have united to search for copper in the Republic of Kazakhstan

    Foreign investors have united to search for copper in the Republic of Kazakhstan

    Getech Group and East Star Resources plc have decided to establish a joint venture for copper exploration in Kazakhstan. Both foreign companies are registered in the United Kingdom, according to the AK&M news agency.

    The name of the new subsidiary has not been disclosed yet. It is known that East Star will lead the operational activities. Getech states that it will analyze the mineral structures and copper systems from under-explored sedimentary basins in Kazakhstan. The company’s geologist data will complement the capabilities of artificial intelligence.

    The enterprises aim to identify new prospective areas rich in copper in the republic and subsequently commence joint mining operations. Before deciding on the development of deposits and obtaining licenses, Getech’s stake in the project will be 5%. As part of the deal, the company has a call option for 5% of the JV’s shares at zero cost after receiving permission for geological exploration.

    East Star already holds nine licenses for mineral exploration in Kazakhstan. Specialists are studying three mineral regions: the Rudny Altai belt, the Chu-Ili ore belt, and the Eastern Kostanay.

    Reminder: Another foreign investor, Rio Tinto, plans to conduct exploration of copper deposits in the Ulytau region.

  • East Star Resources awarded copper porphyry exploration licence

    East Star Resources awarded copper porphyry exploration licence

    East Star Resources Plc, a company focused on copper exploration and resource development in Kazakhstan, has secured its first copper porphyry exploration license under a new strategy, funded in part by a US$500,000 grant from the BHP Xplor program.

    Partnering with BHP, East Star aims to generate regional targets for copper porphyry deposits, primarily in the Balkash-Ili magmatic arc, which hosts significant deposits like Kounrad and Aktogai-Aidarly. Utilizing modern mineral systems concepts and advanced analytical techniques, East Star plans to secure additional exploration licenses and conduct fieldwork in the region.

    The BHP Xplor grant will cover license costs, field programs, desktop evaluations, and administrative expenses. The program, managed by East Star with guidance from BHP and experts, aims to advance prospects identified through satellite imagery and geological mapping.

    Alex Walker, CEO of East Star, expressed satisfaction with obtaining the first license under the new strategy, highlighting the identification of hydrothermal alteration associated with a silica lithocap during an initial site visit. The license is located in the Balkash-Ili volcanic arc, known for hosting copper and gold-rich porphyry and skarn deposits.

    The Aktogai cluster, located nearby, contains significant copper and gold reserves. The historical data on the license indicates anomalous gold and secondary quartzites, characteristic of porphyry intrusions, further confirming its prospectivity.

    The license benefits from existing infrastructure, including a railway and a gravel road, facilitating access to the site. Initial work will include geological mapping and soil sampling to assess the prospectivity of the area based on metal zonation patterns and clay species analysis.

  • East Star Resources Secures 500 000 USD from BHP Xplor for Copper Exploration in Kazakhstan

    East Star Resources Secures 500 000 USD from BHP Xplor for Copper Exploration in Kazakhstan

    Introduction

    BHP has announced its second cohort of six companies, chosen from a pool of over 500 applicants, to join the BHP Xplor* accelerator program.

    BHP Xplor is a global accelerator program targeting innovative, early-stage mineral exploration companies to find the critical resources necessary to drive the energy transition.

    Out of six companies, BHP Xplor invited two companies to explore copper and other base and precious metals in Kazakhstan.: Pallas Resources and East Star Resources. Both companies will receive up to US$500,000 in non-dilutive funding. Proceeds will go toward accelerating exploration over a defined area of interest hunting significant copper systems.

    A Momentous Achievement for East Star Resources

    East Star Resources’ CEO, Alex Walker, expressed his gratitude for the grant and highlighted the extensive application process. BHP, known for their stringent due diligence, selected East Star Resources as a partner, signalling the potential of their copper exploration project in Kazakhstan.

    The Application Process

    The application process involved pitching an exploration concept, a task that required careful planning and consideration. Copper porphyries, known for their complexity and substantial financial requirements, presented a challenging proposition for East Star Resources. However, with the guidance of their new director, Chris Van Weck, they formulated a compelling exploration concept.

    BHP’s Role

    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.

    The Significance of Prospectivity

    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. BHP recognises this prospectivity and views East Star Resources as a valuable partner in unlocking this potential.

    Dual Exploration Strategies

    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.

    Financial Prudence

    It’s essential to use the grant wisely. East Star Resources aims to de-risk the project with the initial funding, making it an attractive proposition for future investors. While there is no specific obligation tied to the funding, having BHP as a potential partner is a significant advantage.

    Plans for Q1 and Beyond

    East Star Resources is actively building the copper porphyry exploration team and refining its strategy. With Chris Van Weck’s geological expertise, they are poised for a successful exploration campaign. The company also plans to continue advancing its VMS projects, aiming to reach drilling-ready status and apply for mining licenses.

    2024 promises to be a pivotal year for East Star Resources. With increasing demand for copper and forecasts of significant deficits in the coming years, the company’s exploration activities are well-timed. As they embark on both VMS and copper porphyry exploration, shareholders can anticipate an eventful and potentially rewarding year.

    In conclusion, East Star Resources’ partnership with BHP and their dual exploration strategies position them as a key player in the evolving copper market. As they continue their exploration journey, the mining industry and investors alike will closely watch their progress.

    Watch the 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.