All Star Minerals Plc www.allstarminerals.co.uk
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Offer Information
Min Max
Investment Target £50,000 £250,000
Interest Rate info 12.00% 12.00%
Type of Bond
Term info 540 Days
Type of Repayment Interest Only
Minimum Investment £250.00
Sector Mining & Oil
Location Ely, United Kingdom
Company Number 04228788
IFISA Eligible YES - This Convertible Loan Note is
eligible for inclusion in the IFISA
All Star Minerals Plc
All Star Minerals Plc is an ISDX listed mining company focused on the Queensland region of Australia. The company's current focus is on two near term production copper-gold projects that have a history of mining activity
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About All Star Minerals Plc

All Star Minerals Plc is an resource business that has mineralisation such as copper,gold,silver,tungsten and Uranium within its Queensland projects.

Presently, the company has the opportunity to acquire one to two copper-gold mines that could be brought into production quickly from suffient capital being secured. This would enable All Star Minerals Plc to start generating revenues from production commencing, thus helping the company to grow its business and financial models.

Over the past eight months, the company has been very active corporately with details having been announced about two new projects, a capital raising being completed and a drilling program executed.

The two new projects are now going to be covered in detail below.

In March 2014, the comapny announced that it has entered into a 6 month purchase option agreement over Peter Craigie Mine.

Peter Craigie Mine is a copper-gold project with a mining lease covering 119 acres in North West Queensland, Australia. The project is located 15km north of Dajarra, a small town some 150km’s south of Mount Isa, a city that hosts a number of major copper and base metal mines including Mount Isa Mines.

Geology: The tenements hosts a copper mineralized lode system that trends northwest-southeast at 140-320 degrees magnetic that dips steeply southwest. The host rocks are primarily metasediments and metabasalts that trend north-south.

The lode system is a silicified fracture of 2-6 metre width, carrying several percent sulphides. At exposure the copper bearing sulphides have weathered to copper carbonates and copper oxides, whilst gold has also been detected in the lode rock. The lode system is exposed over 250 metres, with the northern 150 metres being the better exposed and more actively prospected zone.

History: Following a period of 70 years when the ore body was last worked, sampling was undertaken in June 2013 that returned assays of up to 5.18% copper.

Known Resource: Peter Craigie Mine has been estimated to host between 76,000 and 89,000 tonnes of copper bearing ore at an average grade of between 3.70% and 5.18% copper to a depth of 40 metres.

In November 2013, All Star announced that it has entered into an agreement to acquire a new mine called The Big One. 

The Big One is a copper project with a mining lease covering 320 acres in North-Western Queensland. The project is located in a region with an abundance of base metal mineralization, being approximately 100 kilometres North-West of Glencore’s Mount Isa Mines and approximately 20 kilometres South-East of CST Mining Group’s Lady Annie copper mine, as well as a number of other operating mines and deposits.

Geology: The Big One is situated on a North-East striking fault structure, which lies subparallel and approximately 11 kilometres from the Mount Gordon Fault Zone. The deposit lies in the Myally Subgroup within the dolomitic, feldspathic quartzites and sandstones of the Whitworth Quartzite. Fault structures stand proud as hills above the lower lying unfaulted sediments.

The outcropping mineralization at The Big One is predominantly copper lode within vesicular basalt of a fault gouge. The dominant copper mineralization is malachite, whilst chalcocite and azurite are also present.

History: In 1997, 4,000 tonnes were mined at an average copper grade of 4% through rough selection of ore. However, mining was ceased due to the average cost of production being around US$2,000 per tonne, which resulted in the operation breaking even.

Known Resource: Historic drilling of 29 holes to an average depth of around 18 metres below surface has determined that 59,000 tonnes of copper bearing ore is in-situ. Based on a conservative copper grade of 2.2%, being the average grade from the drilling programme – at least 1,298 tonnes of ore is in place (non-JORC).

Post analysis of the 29 holes, it was determined that the higher grade portions of the lode were located to the Eastern end of the deposit, where no drilling had taken place. As a result, the directors of the Company are confident that the known ore body should average at least 4% copper, in line with what rough selection of ore achieved from production in 1997.

Of further significance, copper mineralization was present at the greatest depth drilled, and it is believed a potential leached zone exists below the known supergene. In addition, a large gossanous outcrop is located a couple of hundred metres from the outcropping mineralization. Gossans can be the upper and exposed part of an ore deposit, and is an additional target to potentially expand the resource, along with drilling to depth to target the potential leached zone.

From its analysis to date, the Company is confident that the deposit is considerably larger than what is shown from past exploration.

 

 

 

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All Star Minerals Plc Documents

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Offer Information
Min Max
Investment Target £50,000 £250,000
Interest Rate info 12.00% 12.00%
Type of Bond
Term info 540 Days
Type of Repayment Interest Only
Minimum Investment £250.00
Sector Mining & Oil
Location Ely, United Kingdom
Company Number 04228788
IFISA Eligible YES - This Convertible Loan Note is
eligible for inclusion in the IFISA

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