East Star Resources (LSE:EST) has received the approvals required to begin drilling at its Rulikha Copper Project in Kazakhstan, with operations starting on 5 October following mobilisation of a drill rig.
The project is operated through a joint venture with local partner Nova Ltd. Under the farm-in arrangement, East Star said it is fully carried through to production and would retain a 25% to 35% interest in any mine subsequently developed at Rulikha.
Five-Hole Programme Targets Copper Mineralisation
The initial drilling programme comprises five holes totalling approximately 1,500 metres across two target areas.
The programme is designed to verify mineralisation recorded in historical exploration and provide additional data for the potential conversion of an existing exploration target into a formal mineral resource.
East Star said the joint venture structure allows exploration and development work at Rulikha to progress without additional capital contributions from the company under the terms of the farm-in arrangement.
East Star Resources Portfolio
East Star Resources is a Kazakhstan-focused exploration and development company targeting copper and gold projects.
Its portfolio includes joint ventures covering the Rulikha Copper Project and Verkhuba copper deposit, which are being advanced under arrangements that the company said require no further funding from East Star through to production.
The company also has a large-scale gold exploration partnership and additional copper and epithermal gold exploration targets in Kazakhstan.
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