Estrella Resources: New High-Grade Manganese Discoveries in Timor-Leste
ESR (ESR) Share Update November 2024 Sunday 17th
Estrella Resources Unveils High-Grade Manganese Discoveries in Timor-Leste
Estrella Resources Limited (ASX: ESR) has announced two significant in-situ supergene manganese discoveries in Timor-Leste, showcasing promising high-grade mineralization in the Lautém Municipality.
Instant Summary:
- Discovery of Ira Miri Prospect with high-grade manganese beds.
- Portable XRF samples show 57.5% and 63.4% Mn grades.
- Exploration model successfully predicts manganese locations.
- Follow-up geophysics planned to locate additional deposits.
Discovery Details
Estrella Resources has unveiled two new manganese discoveries within their exploration licenses in Lautém, Timor-Leste. The Ira Miri Prospect revealed a 3-meter-high bed of supergene manganese, with portable XRF samples grading 57.5% and 63.4% Mn. These are among the highest grades recorded by the company to date.
The Ira Miri Prospect is located across a river valley from the Sica Prospect, approximately 4.4 km southeast. The discovery was made using Estrella's exploration model, which accurately predicted the presence of secondary supergene manganese deposits.
Exploration Model Success
Estrella's exploration model, which integrates stratigraphy with mineralization forms, has been instrumental in these discoveries. The model distinguishes between primary, secondary, and tertiary manganese, with secondary deposits having significant size potential. The model's predictive power has opened new areas for exploration.
Next Steps
Estrella plans to collect samples for further analysis and conduct follow-up geophysical surveys to locate additional in-situ supergene manganese deposits. The company is also preparing to introduce Induced Polarisation surveys to enhance their exploration efforts.
The discovery of high-grade manganese deposits is a positive development for Estrella Resources, potentially enhancing the company's valuation and investor interest. The successful application of their exploration model could lead to further discoveries, strengthening their position in the manganese market.
Investor Reaction:
Analysts are likely to view these discoveries as a promising sign of Estrella's exploration capabilities. The high manganese grades and successful predictive model may boost investor confidence, although further validation through laboratory assays will be crucial.
Conclusion:
Estrella Resources' recent discoveries highlight the potential for significant manganese resources in Timor-Leste. Investors should watch for upcoming assay results and the company's strategic moves to capitalize on these findings.