Estrella Resources expands Timor-Leste tenure and export plans
- Estrella Resources has secured two new 50km2 exploration licences in Timor-Leste and earned conditional approval for a maiden 100-tonne manganese bulk sample export.
- Following the announcement, the company's stock held steady as it moved towards initial commercial shipping and local processing partnerships.
- The company aims to expand its commercial footprint and broaden its international customer base across prospective manganese, copper, and gold targets.
Estrella Resources (ASX:ESR) has expanded its exploration footprint in Timor-Leste after receiving approval for two new licences and conditional approval for its maiden high-grade manganese export.
The new approvals allow the business to build on its existing mineral concessions in a region with very little historical mining activity.
"At the same time, we're taking real steps towards commercialising Ira Miri," said Estrella Resources Managing Director Robert Mencel.
Under the conditional export agreement, a 100-tonne bulk sample from the Ira Miri open pit will be delivered by road to an Indonesian customer in West Timor for processing.
Following the announcement the Estrella Resources share price was unchanged at $0.029.
The company has also submitted an application to the Timorese government to export an additional parcel of approximately 27,000 tonnes of material via sea freight.
Estrella Resources continues to advance a planned 3,000-metre drilling programme and density analysis work to upgrade its mineral resource estimates towards a formal feasibility study.
