Landscape in East Timor
Source: Adobe Stock
The Market Online - At The Bell

Join our daily newsletter At The Bell to receive exclusive market insights

Estrella Resources Ltd (ASX:ESR) has made two in-situ supergene manganese (Mn) discoveries on its granted licenses in Timor-Leste, with grades of up to 57.5% and 63.4% Mn found at one.

These are among the highest grades found so far at the site.

The discoveries – which comprise the new Ira Miri prospect and in-situ manganese found in the hills around the previously identified Sica prospects – were made through recent developments in Estrella’s exploration model, which combines stratigraphy with the differing mineralisation forms identified within the tenure.

Ira Miri was identified during reconnaissance mapping, and it comprises a three-metre-high bed of outcropping supergene manganese, with portable XRF on crushed field samples picking up Mn grading 57.5% and 63.4%.

Estrella’s interpretation of the prospect is also promising, predicting it is a duplication of the Noni formation in an area which has not been mapped. Ira Miri is also located only 4.5 kilometres from the other supergene discovery, close to the Sica prospects.

The latter was identified through the use of Estrella’s exploration model, which predicted the location of this second discovery correctly.

The company is planning follow-up geophysics for the prospects and surrounding hills, with the goal of finding additional in-situ supergene buried below scree material.

Managing Director Chris Daws said he was thrilled to discover wide-scale manganese in Timor-Leste, a fairly underexplored nation.

“While it is early exploration work, making discoveries is a numbers game. Identifying
a swathe of encouraging prospects gives us a better chance of developing a high-grade manganese deposit,” he said.

“Furthermore, I am particularly impressed with the modelling work undertaken by our exploration team.

“What began with a blank sheet of paper when Estrella was first awarded tenure in December last year has emerged into a detailed and increasingly predictive discovery tool.

“Estrella will continue to develop and refine this model, which is expected to become even more powerful with the introduction of Induced Polarisation surveys, which are set to get underway soon.”

Estrella shares moved up on the news, and at 10:47 AEDT, they were trading at 1.6 cents – a rise of 6.66% since the market opened.

Join the discussion: See what HotCopper users are saying about Estrella and be part of the conversations that move the markets.

The material provided in this article is for information only and should not be treated as investment advice. Viewers are encouraged to conduct their own research and consult with a certified financial advisor before making any investment decisions. For full disclaimer information, please click here.


esr by the numbers
More From The Market Online

OD6 Metals rediscovers ultra high-grade Big Jim fluorspar lode

OD6 Metals has rediscovered the historically significant high-grade Big Jim fluorspar lode at its Quinn project…
The Market Online Video

The ASX Today: Aussie market caught between Wall Street records, unstoppable oil – and all on Budget Day

Hello and welcome to HotCopper’s The ASX Today, I’m Seja Al Zaidi.
HotCopper Daily Market Trends Graphic

Tuesday’s HotCopper trends: Elevtra, Metallium, EV Resources, and other daily topics

the S&P/ASX 200 is lower today, dropping 35.20 points or 0.40% to 8,666.60. Bottom performing stocks…

Hazer Group signs MoU to assess Australian energy independence

Hazer Group has entered into a non-binding MoU to assess opportunities for developing low carbon liquid…