Estrella Resources Unveils High-Grade Manganese Assays Up to 57.8% Mn at Leuro and Sica Prospects in Timor-Leste

Leuro Prospect Yields Manganese Grades Up to 57.8% Mn Along a 500-Metre Noni Formation Horizon

At Leuro, Estrella’s geological team discovered manganese mineralisation exposed along an eroded stream bank at several locations, interpreted as a continuous bed within the Noni Formation. Samples collected from a 500-metre-long manganese-rich layer returned assays up to 57.8% Mn, averaging 34.6% Mn across the sampled sites.

This discovery arose during a wider investigation of the Soru/Leuro area, where Estrella had earlier identified significant high-grade detrital manganese at the Soru prospect during reconnaissance in 2024–2025. The primary source of this detrital manganese remains undiscovered and is likely concealed beneath colluvium and vegetation, indicating further exploration potential. The combination of in-situ mineralisation at Leuro and the unresolved detrital source at Soru adds geological complexity and opportunity to the district.

Sica Prospect Produces Average Manganese Grade of 47.5% Mn from Two Sampling Locations

The Sica prospect was initially recognized by a large area of detrital manganese eroded from upslope sources yet to be located. Following geological traverses, Estrella identified a highly eroded primary source, sampled as ESR006086, which assayed 55.6% Mn. Additional manganese occurrences at several locations are interpreted as potentially originating from one or two laterally extensive manganiferous beds beneath cover.

Samples from Sica averaged 47.5% Mn across two locations, with a peak of 55.7% Mn. These grades suggest a high-quality source comparable to Ira Miri, warranting further investigation through ground geophysics. The lateral manganese distribution and identified primary outcrop support the possibility of significant mineralisation volume beneath surface cover.

Noni Formation Found to Be More Extensive Across Estrella’s Concessions Than Previously Thought

These recent results reinforce the view that the manganese-bearing Noni Formation is far more widespread than initially recognized. Both Leuro and Sica are interpreted as extensions of the same geological unit responsible for mineralisation at Ira Miri, Estrella’s most advanced manganese prospect. Managing Director Robert Mencel noted that exploration has focused on mapping and sampling to confirm Noni Formation extensions near existing mineralisation.

This has significant implications for the scale of Estrella’s opportunity. If the Noni Formation extends across multiple prospects—namely Ira Miri, Leuro, and Sica—the company may be positioned over a district-scale manganese system rather than a single deposit. The company plans to test this hypothesis with systematic geophysical surveys and drilling in the coming months.

Comparing Assay Results to the 27,371-Tonne Ira Miri Bulk Sample Stockpile

Estrella describes the grades at Leuro and Sica as comparable to material extracted from its 27,371-tonne Stage 1 bulk sample stockpile at Ira Miri. This bulk sample underpins the trial manganese parcel currently being marketed to buyers. Should mineralisation at Leuro and Sica prove similar in quality, it would significantly expand Estrella’s potential resource base.

The assays show distinct grade profiles: Sica’s average of 47.5% Mn aligns with high-quality commercial ore, while Leuro’s average of 34.6% Mn remains high-grade by industry standards. These are surface rock-chip samples from reconnaissance mapping and are not JORC-compliant mineral resources; further geophysical and drilling work is required to define mineralised zone geometry and continuity.

Res/IP and MTd Geophysical Surveys to Identify Priority Drill Targets at Ira Miri, Leuro, and Sica

Estrella’s immediate focus is advancing geophysical surveys across the three prospects. Resistivity/Induced Polarisation (Res/IP) surveys at Ira Miri are scheduled to begin mid-July 2026, followed sequentially by Leuro and Sica. These surveys aim to delineate priority drill targets beneath the surface, translating high-grade surface results into drill-ready targets with defined geometry and depth.

Additionally, results from the Mobile MagnetoTellurics (MTd) survey completed at Ira Miri are expected by the end of July 2026. MTd surveys provide subsurface geological imaging at depth and may offer crucial structural insights. Together, the MTd and Res/IP data will enhance understanding of the manganese system’s three-dimensional architecture, paving the way for a drilling program to reduce project risk.

Strong Interest from Nine Parties in Trial Manganese Parcel as Sale Nears Completion

Alongside exploration, Estrella’s commercial process for selling its trial manganese parcel is advancing. The company confirmed that nine parties have expressed interest in acquiring all or part of the parcel. Discussions are expected to conclude by 10 July 2026, with a sale recommendation to the Board shortly thereafter.

This sale represents a key near-term commercial milestone. A successful transaction would validate initial revenue potential from Ira Miri ore and help establish a commercial pathway for future production. The strong interest indicates meaningful market demand, though final sale price, volume, and counterparty details remain undisclosed. Investors await the Board’s recommendation and transaction announcement.

Estrella’s Unique Position Under Timor-Leste’s Modern Mining Code

Managing Director Robert Mencel highlighted that Estrella is among a select few companies granted exploration rights in Timor-Leste following the country’s adoption of a modern mining code. This early-mover advantage has enabled Estrella to secure a large, highly prospective area in eastern Timor-Leste, where multiple manganese prospects have been identified.

The modern mining code provides a transparent, predictable regulatory framework, facilitating mineral exploration and development. Estrella’s early positioning, coupled with promising exploration results, suggests a significant first-mover advantage. The company’s tenure map illustrates multiple prospects potentially hosting extensions of the manganese-bearing Noni Formation.

Exploration Strategy Encompasses Manganese, Copper, and Precious Metals Across Concessions

While the current update focuses on manganese, Estrella’s management confirmed a disciplined exploration approach targeting copper and precious minerals as well. This multi-commodity strategy reflects the broader geological potential of the concession area and reduces reliance on manganese alone.

The integration of copper and precious metals exploration alongside manganese indicates Estrella views its Timor-Leste tenure as a multi-commodity opportunity. Although no specific targets or timelines for copper and precious metals were detailed, further updates are expected as work progresses.

Implications of the Emerging District-Scale Manganese Opportunity for Estrella’s Development Pipeline

The combination of high-grade surface results at Leuro and Sica, expanding evidence of Noni Formation continuity, and ongoing geophysical and commercial activities suggests Estrella is at an early yet potentially transformative exploration stage. Confirmation of lateral and depth mineralisation extent through surveys and drilling could enable resource definition across multiple deposits instead of a single project.

The company aims to replicate the Ira Miri development model—bulk sampling, market testing, and advancing toward commercial production—across several prospects. The pace of geophysics, drilling, and resource definition will be critical. Key upcoming milestones include MTd results from Ira Miri by late July, Res/IP surveys commencing mid-July at Ira Miri and subsequently at Leuro and Sica, and the trial manganese parcel sale process concluding around 10 July 2026. The immediate impact on Estrella’s share price remains unclear from current public information.