Estrella Resources has earned pre-qualification in the Timor-Leste Government’s inaugural minerals tender process, opening up a potential pathway for the company to acquire tenure in a region known to host more than 200 mineral occurrences including gold, copper, manganese, silver and chromite.
The process appears set to end the region’s dearth of exploration due to a succession of long-standing geopolitical factors in Timor-Leste since the mid-16th century.
The minerals tender process is the first for the fledgling nation, which only gained independence last year following a previously turbulent period under Indonesian rule. Mineral titles will be awarded across the country in a bid to inspire a new exploration and mining industry aimed at improving the fortunes of the small island nation that has been long devastated by conflict.
It will offer a unique first-mover advantage for companies which successfully secure mineral exploration concessions and Estrella has positioned itself to be right in the mix. Management says it submitted several competitive bids prior to yesterday’s close-of-tender for the mineral concessions it considers to be highly prospective.
We have over a very long period been eying potential exploration opportunities within Timor-Leste and I am excited to see the expanding potential for Estrella Resources within the region. Estrella, if successful in its bids for minerals concessions, will have a unique advantage into a new and exciting exploration frontier. We have identified areas in Timor-Leste which we believe hold a very high prospectivity for minerals exploration and are keen to bring these opportunities into fruition. Estrella Resources managing director Chris Daws
The company says pre-qualification entailed the submission of a detailed profile and vetting of the legitimacy of its exploration abilities, funding, management, safety records and environmental, social and governance (ESG) credentials. Management says it has already built strong connections within Timor-Leste and is establishing a branch company to service activities in the country.
While Estrella remains steadfast in its strategy to explore and develop its nickel opportunities in Western Australia via its Carr Boyd and Spargoville projects, it has taken the blinkers off to also ponder the possibilities within essentially virgin exploration territory in Timor-Leste.
Management says it expects concession tenders to be awarded by the government within two months.
Timor-Leste, also known as East Timor and now officially as the Democratic Republic of Timor-Leste, is an island nation in South-East Asia. It is comprised of the eastern half of the island of Timor, the exclave of Oecusse on the island’s north-western half and the minor islands of Atauro and Jaco. The western half of the island is administered by Indonesia.
The complex geology of Timor Leste is favourable for the occurrence of a wide variety of minerals, in addition to hydrocarbons. It is dominated by a series of thrust sheets, consisting of ultramafic, mafic and volcanic terrain, that are part of the Banda Arc and known as the Banda Terrane.
The main metallic minerals potential in Timor-Leste is generally believed to lie within the ultramafic rocks.
With the stability brought to Timor-Leste by its newfound independence, at long last its people might see the fortunes of their homeland changed for the better by responsible resource development and the opportunities for employment and infrastructure improvements that mineral exploration and mining can bring.
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