Estrella Resources Unveils Promising Manganese Discovery at Sica Prospect
ESR (ESR) Share Update July 2024 Wednesday 31st
Estrella Resources Announces New Manganese Discovery at Sica Prospect
Estrella Resources Limited (ASX: ESR) has announced a significant new discovery of supergene manganese mineralization at the Sica Prospect in Timor-Leste, marking an important milestone in their exploration efforts.
Instant Summary:
- Discovery of supergene manganese mineralization at Sica Prospect.
- pXRF determinations in the field show manganese values between 59% and 26%.
- Extension of Lalena Prospect towards Sica with pXRF values ranging from 64% to 34% Mn.
- Laboratory assays from Perth confirm manganese values between 57% and 26% Mn.
- Improved understanding of regional controls on manganese mineralization.
New Discovery at Sica Prospect
Estrella Resources Limited (ASX: ESR) has made a significant discovery of supergene manganese mineralization at the Sica Prospect, located in the Lautém Municipality of Timor-Leste. The discovery was made through detailed geological mapping and sampling, revealing high-grade manganese values at the surface.
The Sica Prospect, situated less than 5 km from the major northern coastal highway, offers excellent logistics for future exploration and mining activities. Initial pXRF determinations in the field have shown manganese values ranging from 59% to 26%, confirming the presence of high-grade mineralization.
Extension of Lalena Prospect
In addition to the Sica discovery, Estrella Resources has identified an extension of the Lalena Prospect towards Sica. Field pXRF values from this extension range between 64% and 34% Mn, further highlighting the potential of the region for significant manganese deposits.
Laboratory Assays and Correlation
Laboratory assays conducted in Perth have confirmed manganese values between 57% and 26% Mn from samples collected at the Lautém Project. The excellent correlation between in-country pXRF determinations and laboratory assays provides confidence in the field data, expediting exploration efforts.
Future Exploration Plans
Estrella Resources plans to continue detailed mapping to locate the in-situ supergene boundaries at the Sica Prospect. Trenching activities will be a focus, with surface samples collected for further assay in Dili and export to Australian laboratories for comprehensive analysis.
The company has also established a sample preparation facility in Dili to facilitate more accurate in-country pXRF analysis and prepare samples for export. This development is expected to enhance the efficiency and accuracy of their exploration activities.
The discovery of high-grade manganese at the Sica Prospect is a significant development for Estrella Resources. This new find could positively impact the company's stock price as investors respond to the potential for future mining operations and increased resource estimates. The excellent correlation between field and laboratory data also boosts confidence in the exploration results.
Investor Reaction:
Analysts are likely to view this discovery positively, given the high-grade nature of the manganese mineralization and the strategic location of the Sica Prospect. The proximity to major infrastructure enhances the project's feasibility, potentially attracting further investment and interest in Estrella Resources.
Conclusion:
Investors should keep a close watch on Estrella Resources as they progress their exploration efforts at the Sica Prospect. The company's strategic approach and promising initial results suggest a bright future for their manganese projects in Timor-Leste. Stay tuned for further updates and potential developments in this exciting exploration venture.