ESR extends Timor-Leste tenure
Summary
Our Timor-Leste portfolio is moving on several fronts at once, and this announcement pulls it together.
We've been awarded two new 50km2 exploration licences, one near Covalima in the south-west and one in the Oecusse region. Both cover geology, the Lolotoi Complex and Manamas Volcanics, that our review suggests could host gold and copper mineralisation. It's early-stage ground with no confirmed occurrences yet on this specific tenure, but it extends our footprint in a country that remains largely unexplored.
On the commercial side, we've received conditional approval to export a maiden 100 tonne bulk sample of high-grade manganese from Ira Miri to a customer in West Timor, Indonesia, for use as smelter trial feed. The approval still requires us to finalise a Standard Operating Procedure and complete a joint survey with the Timorese regulator during loading, so it isn't unconditional yet. This sits alongside our separate, still-pending application to export a much larger ~27,000t parcel by sea.
At Werumata, we've identified a low-cost way to lift part of our limestone resource from Inferred to Indicated confidence using density data from core we already hold, ahead of a planned Feasibility Study. And subject to regulatory drilling approval, a 3,000m RC and diamond drilling programme is expected to start shortly at the Laleno Dome, targeting priority zones identified by our geophysical survey.
There's a lot in motion here, and much of it depends on approvals still to come through. Happy to take any questions on this announcement.
This content may contain inaccuracies. Neither the Company nor InvestorHub assumes responsibility for its accuracy. Please refer to the full announcement before making any investment decision.
Your question will be visible to everyone.
Start the conversation
Ask Estrella Resources a question about this announcement.
Share your feedback
Discover