Estrella Resources Limited (ASX: ESR) Announces Positive Exploration Update
Exploration Highlights
Estrella Resources Limited (ASX: ESR) reported encouraging results from its first Induced Polarisation (IP) trial line over the newly discovered Ira Miri manganese zone in Timor-Leste. The IP data indicates a low resistivity anomaly, pointing to potential supergene manganese mineralisation at depth beneath the Baucau Formation.
The IP system will remain operational until early February 2025, focusing on the Ira Miri trend. Estrella’s geophysics team is independently managing the IP system, marking a significant milestone for the company.
Drilling Preparations
Estrella is advancing preparations for a reverse circulation drilling program to test geological and IP targets. The necessary drilling equipment is currently being imported into Timor-Leste, with permitting and land access efforts ongoing across multiple prospects, including Samalari, Sica, and Ira Miri.
Executive Insights
Managing Director Chris Daws commented, “Momentum continues to build at Estrella’s Timor-Leste manganese assets […] The survey identifying a low-resistivity anomaly aligns with outcropping observed at site.” He further noted, “This drilling campaign is shaping up as a major milestone […] driving investment and employment opportunities in Timor-Leste.”
Estrella plans to target known mineralisation at Samalari and Ira Miri while also considering additional targets identified through the ongoing IP trials.
Motley Fool contributor Matt Burgess has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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