Latest news with #EstrellaResources
West Australian
30-06-2025
- Business
- West Australian
Estrella lands $5M to fuel Timor-Leste manganese exploration push
ASX-listed Estrella Resources has pulled in a hefty $5 million from a strategic Western Australian investor, who is keen to back the company's ambitious manganese and limestone exploration campaigns in Timor-Leste. The cash came after MJ Ratta Investments exercised the second tranche of an option subscription agreement, inked in September last year. Subject to shareholder approval, the investor will receive 136.76 million shares at 3.656 cents per share, which is a 20 per cent discount to Estrella's 10-day volume-weighted average price of 4.57c. The first tranche raised $350,000 from the issue of 53.3 million shares at 0.006c per share. Estrella says the move is a major endorsement of the company's fast-moving strategy in a region that, until now, has never seen modern drilling for metallic minerals. The new funding package boosts Estrella's balance sheet and also comes with attractive terms for Ratta. The investor will gain an increased gross revenue royalty from manganese production – up from 0.25 per cent to 0.5 per cent - and an extended royalty life from five to seven years if production gets up. Additionally, the company has pledged a first-ranking security interest on its Spargoville nickel mineral rights until it can confirm delivery of 20,000 tonnes of ore to port. With the blessing of local Timor-Leste communities and its nascent mining industry, Daws added that Estrella has also received staunch support from its institutional shareholders. The funds will be used to ramp up Estrella's ongoing 3000-metre diamond and 10,000m reverse circulation drilling blitz and pave the way for a follow-up 10,000m reverse circulation campaign, subject to results. The timing of the new cash has come at an exciting time for the company, which recently landed some big manganese results. Last week, the drill bit struck a standout 7.76m hit of manganese oxide from just 30 centimetres below surface at its Ira Miri project in the country's northwest. The discovery came from a diamond drill hole using an upgraded rig, which twinned the project's first hole that had earlier pulled up short in mineralisation. Fitted with an appropriate drill bit and improved drilling fluids, the rig is capable of churning through the harder material, leading to an improved core recovery. Core visuals revealed thick, high-grade manganese zones, with some sections potentially hitting 100 per cent manganese oxide. Notably, the intercepts are already rivalling Australia's renowned Groote Eylandt deposit, which averages just 3m wide. Estrella says the material appears to be in-situ supergene enrichment from the Noni Formation and looks extremely well preserved beneath ancient overburden. Drilling is continuing with step-out holes to test scale and continuity at Ira Miri, while the company pushes on with its permitting efforts to ramp up exploration at its Werumata and Lautém sites, further south. In parallel with the hunt for manganese, the company is also chasing a large limestone opportunity as part of a partnership and an offtake agreement already in place to monetise the resource. Last month, Estrella struck a binding deal with Indonesian group PT Raka Energi Mandiri (REM) to potentially export up to 500 million tonnes of high-grade limestone from Timor-Leste across the next five years. The agreement gives REM exclusive marketing and off-take rights and includes a performance incentive of up to 500 million share options at 5c each. The joint venture, dubbed Estrella Murak Rai Timor Lda, will retain all revenue from limestone sales. Estrella owns 70 per cent of the joint venture with Timor-Leste's state-owned Murak Rai Timor holding the balance. The material shows up as a clean, coral-rich layer running along the top of the dominant Baucau Formation, which stretches across the company's 195 square kilometre concession. The resource also conveniently sits above its main manganese targets, allowing for dual-resource exploration in a single drill run. Recent assays confirmed the limestone is a premium-grade calcite with minimal impurities, making it highly sought-after for use in cement, glass and agriculture. It is also the perfect neutralising agent in nickel processing and for environmental remediation. With strong backing from the investor, local communities and a budding Timor-Leste mining industry, Estrella appears well-positioned to continue blazing a trail through uncharted territory. The company has already marked itself as a pioneer in the region and now, with $5 million in the bank, it appears ready to dig even deeper. Is your ASX-listed company doing something interesting? Contact:
West Australian
23-06-2025
- Business
- West Australian
Estrella strikes near-surface manganese paydirt in Timor-Leste
ASX-listed Estrella Resources has wasted little time making its mark in Timor-Leste, after the company revealed a high-impact 7.76-metre manganese oxide hit from just 30 centimetres below surface at its Ira Miri project in the country's northwest. The discovery came from a diamond drill hole using an upgraded rig, which twinned the project's first hole. The maiden hole pulled up short in mineralisation earlier this month. Drilling is now being powered by a repurposed Boart Longyear Deltabase 525 rig, which has been modified for exploration and fitted with an appropriate drill bit capable of churning through the harder material. The company says it significantly boosted core recovery at the project by switching the drill bit and improving the drilling fluids. The updated equipment is likely to be vital for generating results that meet the rigorous standards needed to define a resource under the JORC code. While assays for the first hole are still a few weeks away, the new hit is already shaping up as a significant moment for Estrella and Timor-Leste's emerging minerals. Initial visual estimates from the core show thick, continuous zones of manganese mineralisation, with some sections appearing to contain up to 100 per cent manganese oxide. Estrella says the material appears to be in-situ supergene enrichment from the Noni Formation and looks extremely well preserved beneath ancient overburden. Daws added the latest results, which twin the company's first hole, are strategically important, and provide Estrella with complete core for geological analysis and data on the depth of its initial manganese discovery. While Estrella is keen to point out that visual estimates aren't a stand-in for lab assays, the geology on show looks the real deal. Notably, the thickness of the manganese hit stacks up against Australia's legendary Groote Eylandt deposit, which averages just 3 metres. Estrella says drilling at Ira Miri will continue with step-out diamond holes designed to test the continuity and scale of the mineralised horizon. At the same time, reconnaissance mapping of the company's southern Lautém manganese grounds has continued. Environmental approvals - in conjunction with community input - are also being worked up at its Werumata site. It plans to drill a large 3.9 square kilometre target area at Werumata when the permits are secured. Estrella's boots-on-the-ground efforts are earning widespread recognition. Timor-Leste Prime Minister Xanana Gusmão met with the company's management, offering strong support for the project and for Estrella's broader exploration activities across the country. Estrella also organised a full site visit for more than 50 investors, national media representatives and senior government officials. The party toured the Ira Miri manganese site and its Werumata limestone project in Baucau. Attendees witnessed drilling in action and inspected a trench dug into a new discovery of massive manganese oxides 350m northwest of the current drilling, hinting at the project's potential scale. Backed by community support, government enthusiasm and early geological success, Estrella appears to be on track to cut out a new mineral province. With assays imminent and more drilling on the cards, punters are likely to keep a close eye on what comes next out of Timor-Leste. Is your ASX-listed company doing something interesting? Contact:
West Australian
18-06-2025
- Business
- West Australian
Estrella to drill deeper into manganese-rich discovery in Timor-Leste
Estrella Resources has deployed the heavy-duty diamond rig to build on a recent high-grade massive manganese discovery at its Ira Miri prospect in Timor-Leste. The new rig has begun twinning the company's first discovery hole, which previously intersected 6.45 metres of massive manganese oxides averaging 40.1 per cent manganese from just 1.35m depth. The discovery hole ended early - in manganese-rich mineralisation - because of intermittent core recovery from the weaker drill mount. Estrella says it has uncovered further significant new supergene manganese outcrop at its Ira Miri project in Timor-Leste, about 350m north of its initial discovery hole. Management believes the outcrop is a direct continuation of the discovery. Visual estimates suggest it could comprise more than 90 per cent manganese oxide content. Coupled with the mobilisation of a powerful track-mounted diamond drill rig, Estrella is charging forward with the nation's first modern minerals exploration program, cementing its first-mover advantage in the long-underexplored frontier. When the diamond twin is complete, the company will venture north to the new outcrop. Estrella says the new outcrop is mapped across an impressive 4.5-kilometre strike length and is hosted within the same Noni Formation. The company will rely on laboratory assays to confirm the mineralisation. The assays are en route to the lab and will provide critical data on grades and impurities essential for an economic valuation. Estrella says its ambitious frontier drilling campaign comprises an initial 3000m of diamond drilling and 10,000m of reverse circulation drilling to target its Ira Miri and Sica prospects. It has already contracted a second phase of 10,000m reverse circulation drilling, which will launch after a review of initial results. Over the next three weeks, Estrella will drill the initial discovery zone and the newly identified extension. Track and pad preparations for the reverse circulation drilling program are set to commence shortly, paving the way for kick-off in about seven weeks. Estrella says cultural integration remains a cornerstone of its in-country progress. Local community members have been instrumental in hand-clearing drill lines, while track reinforcement ensures long-term access and erosion control at its projects. It says its collaborative approach is backed by the Timorese government and positions the company as a trusted operator in an emerging mining jurisdiction. The Ira Miri project sits within Estrella's 195-square-kilometre concession, held in a 70:30 joint venture with state-owned Murak Rai Timor. The project features multiple occurrences of high-purity limestone overburden to its manganese targets, potentially enabling efficient dual-commodity exploration and maximising the value of each drilling campaign. With assays from the new outcrop pending and drilling intensifying, Estrella is set to present its early results at the International Manganese Institute's conference in Tokyo this month. Estrella's first-mover advantage looks to be a defining move as the scale of its discovery begins to spotlight Timor-Leste as a welcome global critical minerals frontier. Is your ASX-listed company doing something interesting? Contact:
West Australian
03-06-2025
- Business
- West Australian
Estrella hits massive manganese oxides in Timor-Leste debut
Estrella Resources has made a landmark discovery in its maiden exploration program in Timor-Leste, intersecting a thick 6.45-metre zone of massive manganese oxides just 1.35m below surface at its Ira Miri prospect. In what marks the first modern metallic minerals drillhole sunk in the country, Estrella's initial diamond hole confirmed high-grade manganese mineralisation right from the outset. The mineralisation is still open at 7.8m depth. The discovery comes hot on the heels of an original outcrop found six months ago and just 3m away. Rock chip samples from the surface discovery returned jaw-dropping assays of up to 58.6 per cent manganese. The latest X-ray fluorescence readings from the drill core have now backed up the earlier numbers. They average an impressive 40.1 per cent manganese over the 6.45m interval and confirm more high-grade mineralisation beneath surface. The drill hole ended early because of intermittent core recovery and a scheduled roster break under Timor-Leste mining laws. Estrella will use the downtime to mobilise a more powerful diamond rig in the next two weeks, capable of punching deeper into the friable manganese-rich zones. Core has now been removed for a presentation in June at the International Manganese Institute's conference in Tokyo. Notably, a trench dug just 8m southeast of the drill hole also encountered massive manganese oxides starting 0.7m below surface, despite the area showing no visible surface mineralisation. The find suggests the potential for widespread, near-surface mineralisation hidden under shallow cover throughout the area. Estrella says the rapid turnaround to drilling is a strong sign of the in-country co-operation. Its joint venture partner, state-owned Murak Rai Timor has been instrumental in fast-tracking the campaign. Murak Rai Timor's managing director Jose Goncalves also welcomed the result, calling it a strong endorsement of the joint venture's strategy and a powerful first step in uncovering Timor-Leste's critical minerals potential. The current drilling program is being run by Darwin-based CoreSearch, which also impressively mobilised both diamond and reverse circulation drill rigs into Timor-Leste's remote Lautém district in record time. Since Timor-Leste is still an underexplored region, Estrella says it holds a substantial first mover advantage, which could crack open a treasure trove of untapped targets and turn the region into something special. Estrella is also eyeing the country's broader mineral potential, with a significant high-grade limestone deposit sitting directly above its manganese horizon. Two weeks ago, the company struck a major deal to export up to 500 million tonnes of premium, coral-rich limestone over five years to meet booming industrial demand in South East Asia. The limestone, part of the Baucau Formation, is high-purity calcite with minimal impurities, making it ideal for cement, glass, agriculture and nickel processing. It also sits straight above the manganese targets, allowing for streamlined dual resource exploration. A major 20,000m drilling blitz is now on the cards, combining 10,000m of reverse circulation drilling and 3000m of deeper diamond drilling in the first phase, followed by a further 10,000m of reverse circulation drilling after a geological review. With Timor-Leste aiming to make its mark in the global supply chain for industrial metals, Estrella's Ira Miri manganese find could be the opening salvo of something much bigger. Is your ASX-listed company doing something interesting? Contact:
West Australian
29-05-2025
- Business
- West Australian
Estrella makes history with manganese drill program in Timor-Leste
Estrella Resources has officially broken new ground by launching Timor-Leste's first modern metallic mineral exploration program, punching-in the company's maiden diamond drill hole at the highly prospective Ira Miri manganese prospect. In mobilising a man-portable diamond rig from Dili to the Lautem region, Estrella says its joint venture (JV) with the East Timorese Government's Murak Rai Timor and drilling contractor CoreSearch marks the beginning of an intrepid new era for resource development in the South East Asian nation. The inaugural hole is now underway, targeting manganese mineralisation just below an outcropping unit. The company has also started initial trenching to pinpoint the key geological contact within the Noni Formation. The broader campaign will comprise an initial 3000 metres of diamond drilling and 10,000m of reverse circulation drilling, followed by a further 10,000m of reverse circulation drilling in a second phase after results start to roll in. The campaign isn't just a technical achievement. Cultural integration has played a central role, with local elders blessing the site through traditional ceremonies. More than 40 members of the local community were also engaged in hand-clearing tracks to the drill pad. Estrella has reinforced the tracks with machinery to ensure long-term access and erosion control. Follow-up drill sites have already been prepped 100m from the first line. The project sits within Estrella's northernmost Lautem project area and includes multiple drill targets across the Ira Miri, Sica and Lalena prospects. The initial drilling program will zero in on the manganese-rich zones mapped at Ira Miri. Estrella has also set its sights on the region's broader mineral potential, including a large limestone deposit lying above the manganese horizon. Two weeks ago, Estrella unveiled a landmark deal that could see up to 500 million tonnes of premium limestone shipped from Timor-Leste over the next five years, targeting South East Asia's surging industrial minerals demand. The high-grade, coral-rich limestone sits atop the Baucau Formation within Estrella's 195-square-kilometre concession and directly overlies its manganese targets. This makes exploration doubly efficient as both resources can be assessed in tandem during drilling. Recent assays have proved the limestone is a high-purity calcite with few impurities, meaning it could be perfect for use in cement, glass production, agriculture and as a key neutralising agent in nickel processing and environmental remediation. Since drilling at Ira Miri will offer Estrella a first glimpse beneath the surface of Timor-Leste's largely untouched terrain, Estrella plans to release early manganese assays in June at the International Manganese Institute's conference in Tokyo. The company and its government-backed JV partner see the event as a fantastic opportunity to spotlight Timor-Leste's emerging role in the global critical minerals sector. Operations have been fast-tracked under a special approval from the Timorese mining regulator and broader environmental clearances are pending. As the bit bites into fresh Timorese geology, Estrella is officially a first mover to unlock the nation's untapped mineral wealth. With drills spinning, support entrenched and geology onside, the company's Timor-Leste push could soon evolve into a game-changing discovery story. Is your ASX-listed company doing something interesting? Contact:
