(Alliance News) - East Star Resources PLC on Tuesday said it has identified a new exploration target at its Verkhuba copper-zinc-lead deposit in Kazakhstan.

It said the exploration target holds between 19 and 23 million tonnes at between 1.0% and 1.4% copper and between 1.0% and 1.4% zinc.

East Star is a minerals exploration company focused on the discovery and development of gold, rare earth, and copper deposits in Kazakhstan.

The company said the exploration target is defined by 897 drill holes of historical diamond drilling, which has been reviewed over the past year, "providing a reasonable level of confidence in the geological interpretation".

The firm added that a possible significant exploration upside exists in drill-ready targets identified in 20222 in a helicopter electromagnetic survey.

East Star noted that there is potential for low capital expenditure development of the site using existing processing capacity within the region.

Drilling on the site is expected to begin in the summer.

Chief Executive Officer Alex Walker said: "This exploration target validates the statement that the Verkhuba Deposit is a game changer for East Star.

"With high-grade copper mineralisation already identified, significant exploration upside and a potential route to low-CAPEX development, East Star is uniquely positioned for growth in 2023 within a progressive mining jurisdiction. We are eager to commence verification and infill drilling over the Verkhuba Deposit this summer."

East Star shares closed unchanged at 2.95 pence each in London on Tuesday.

By Harvey Dorset, Alliance News reporter

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