Estrella Resources says it is on track to unearth a monster 500m tonne limestone resource at its Werumatamata project in Timor Leste after drilling logged large sheets of valuable mineralisation up to 87m thick.
The company says the average width logged within the limestone blanket at the project is 55m and it also encountered an unexpected bonus in the form of calcite intersected beneath the target zone, potentially hinting at significant additional tonnes than first thought.
Drilling of its near-by Ira Miri Manganese prospect is also now complete, with thicknesses of the targeted Noni Formation reaching up to 12.87m of 80% manganese oxides from just 5.13m. Management says of the 45 holes drilled for manganese in 2025, 29 showed some colour. The Ira Miri Manganese prospect also hit thick high-grade supergene mineralisation and samples from selected intervals have been collected for investigation of potential premium quality mineralisation.
Planning is also underway to do a buk sample in order to get it appraised by market players.
Adding further geological intrigue, the Werumata limestone sits directly atop the manganese-rich Noni Formation. The Noni Formation has been identified as the host unit for extensive supergene enriched manganese mineralisation and is typically covered by clean limestone, setting the scene for potentially two payable minerals. Weathering of the Formation has developed thick concentrations of manganese visible at surface which means every hole drilled for limestone could also shed light on underlying manganese mineralisation.
The company first unveiled its plan to commercialise Timor-Leste’s high-grade limestone back in May when it inked an exclusive marketing and offtake deal with Indonesian energy and mining group PT Raka Energi Mandiri (REM). The agreement opens the door to South-East Asia’s surging industrial minerals market and could see up to 500 million tonnes of limestone exported from Timor-Leste over the next five years.
The company’s foothold in Timor-Leste stems from management’s long-standing involvement in the nation’s mineral development strategy and its collaboration with government agencies keen to build a new mining industry.
In 2023, Timor-Leste launched its first-ever minerals tender and Estrella was one of only four successful applicants - and one of just two ASX-listed companies - to secure concessions. The explorer walked away with three of four exploration concessions and eight reconnaissance permits, covering prime ground across the country’s limestone and manganese belts.
Estrella Resources managing director Chris Daws said: “While it is early stages, this is an important development as it confirms the findings of our mapping, sampling and surveying work, which pointed to the presence of a large sheet of mineralisation. Assays pending from the Ira Miri manganese project are eagerly awaited where we have extended the strike length of manganese mineralisation to more than 100m and remains open to the northeast and southwest.”
With approvals in place, rigs on the ground and a potential offtake deal on the horizon, Estrella appears perfectly positioned to capitalise on its first-mover advantage in Timor-Leste. For a junior explorer, the limestone opportunity could prove every bit as valuable as the manganese sitting just below it in what is a not so classic one two geological punch.
Manganese prices have shown recent volatility, driven by factors like changing demand from China's steel industry and supply disruptions, but the long-term market is expected to grow. The economies of scale offered with a two-commodity project are thought provoking and any increase in the manganese price will be a welcome incentive to fast track a resource drilling program. Meanwhile limestone can easily do the heavy lifting.
Is your ASX-listed company doing something interesting? Contact: mattbirney@bullsnbears.com.au
