ESTRELLA RESOURCES LIMITED For personal use only
Estrella Resources Limited and its controlled entities
ABN 39 151 155 207
Interim Financial Report
For the half year ended 31 December 2021
ESTRELLA RESOURCES LIMITED
Contents
only | Directors' Report |
Auditor's Independence Declaration | |
Consolidated Statement of Profit or Loss and Other Comprehensive Income | |
Consolidated Statement of Financial Position | |
Consolidated Statement of Changes in Equity | |
use | Consolidated Statement of Cash Flows |
Notes to the Financial Statements | |
Directors' Declaration | |
Independent Auditor's Review Report | |
For personal | Corporate Directory |
Page 2
For personal use only
ESTRELLA RESOURCES LIMITED
DIRECTORS' REPORT
The Directors present their report together with the financial report of Estrella Resources Limited ("the Company") and its wholly owned subsidiaries (together referred hereafter as "the Group" or "the consolidated entity") for the half-year ended 31 December 2021 and the independent auditors' review report thereon.
The Directors of the Company at any time during or since the end of the half-year are:
Leslie Pereira | - Non-executive Chairman |
Christopher Daws | - Managing Director |
John Kingswood | - Non-executive Director |
Stephen Brockhurst | - Non-executive Director |
Neil Hutchison | - Non-executive Director |
PRINCIPAL ACTIVITIES
The principal activities of the Group during the reporting period were to explore nickel projects in Western Australia.
REVIEW OF OPERATIONS
Work Summary
The focus of fieldwork and studies during the half-year were the Carr Boyd Nickel Project with limited drill targeting work on the Spargoville Nickel Project along with progressing plans to mine the deposit.
CARR BOYD NICKEL PROJECT, WA 100%
The Company considerably strengthened its exploration efforts at the Carr Boyd Nickel Project over the half- year utilising one diamond drill rig and one RC rig.
Work predominantly involved mapping and drill testing of the Carr Boyd basal contact so as to identify and narrow down exploration targets. Three main areas were identified (Figure 1), including the previously discovered T5 mineralisation. These areas are the T5-Broonhill Pyroxenites, the Mossgiel Pyroxenites and the Gossan Hill Pyroxenites.
RC drilling at Broonhill and diamond drilling at Mossgiel identified that the pyroxenites are fertile, carrying nickel sulphides, and hence the basal contacts in those areas are highly prospective for additional massive sulphide discoveries.
A total of 11 diamond holes with 3 wedges were drilled for +6,000m of drilling into T5 and Mossgiel. A total of 53 RC holes for +11,000m targeted the T5 and Broonhill Prospects (Table 1).
Additional work involving the CSIRO was commenced, looking at classifying and dating the Carr Boyd Intrusion and also looking at the source of the Carr Boyd Deposit and its relationship to the T5 Basal Contact Mineralisation.
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ESTRELLA RESOURCES LIMITED
DIRECTORS' REPORT
For personal use only
Figure 1. Working Exploration Model depicting the Carr Boyd Igneous. Paleo-gravity is towards the bottom of the image. This means that Broonhill-T5, Mossgiel and Gossan Hill are likely to be true basal contact positions and therefore highly prospective.
Table 1: Drill hole collar and survey details as at the end of the December 2020
Hole | Type | Depth | mE | mN | mRL | Tenement | Prospect |
CBDD056 | DD | 877.5 | 367392.6 | 6672993 | 427.3 | M31/12 | Carr Boyd |
CBDD056A | DD | 831.8 | 367392.6 | 6672993 | 427.3 | M31/12 | Carr Boyd |
CBDD057 | RC / DD | 606.7 | 367370 | 6673580 | 431.9 | M31/12 | T5 |
CBDD058 | DD | 260.2 | 365265 | 6670955 | 429.6 | E29/982 | Mossgiel |
CBDD059 | DD | 288.7 | 365266 | 6670955 | 429.6 | E29/982 | Mossgiel |
CBDD060 | RC / DD | 741.6 | 367372 | 6673580 | 431.9 | M31/12 | T5 |
CBDD061 | DD | 462.6 | 365560 | 6670955 | 434.5 | E29/982 | Mossgiel |
CBDD062 | DD | 672.9 | 367414 | 6673750 | 433.6 | M31/12 | T5 |
CBDD062A | DD | 540.8 | 367414 | 6673750 | 433.6 | M31/12 | T5 |
CBDD062B | DD | 441.8 | 367414 | 6673750 | 433.6 | M31/12 | T5 |
CBDD063 | DD | 283.4 | 365354 | 6670550 | 427 | E29/982 | Mossgiel |
CBP044 | RC | 336 | 367759 | 6673129 | 429.16 | M31/12 | Carr Boyd |
CBP045 | RC | 194 | 367189 | 6673901 | 440.213 | M31/12 | T5 |
CBP046 | RC | 240 | 367229 | 6673843 | 438.25 | M31/12 | T5 |
CBP047 | RC | 240 | 367244 | 6673752 | 436.945 | M31/12 | T5 |
CBP048 | RC | 239 | 367245 | 6673648 | 435.656 | M31/12 | T5 |
CBP049 | RC | 222 | 367277 | 6673567 | 433.829 | M31/12 | T5 |
CBP050 | RC | 288 | 367246 | 6673511 | 434.13 | M31/12 | T5 |
CBP051 | RC | 288 | 367254 | 6673346 | 432.31 | M31/12 | T5 |
CBP052 | RC | 285 | 367307 | 6673163 | 429.51 | M31/12 | Carr Boyd |
CBP053 | RC / DD | 582.3 | 367296 | 6673123 | 429.12 | M31/12 | Carr Boyd |
CBP054 | RC / DD | 351.6 | 367294 | 6672915 | 426.5 | M31/12 | Carr Boyd |
CBP055 | RC | 59 | 367175 | 6674017 | 438.9 | E31/726 | T5 |
CBP056 | RC | 227 | 367221 | 6674015 | 441.2 | E31/726 | T5 |
CBP057 | RC | 203 | 367222 | 6674014 | 441.2 | E31/726 | T5 |
CBP058 | RC | 167 | 367201 | 6674136 | 443.3 | E31/726 | T5 |
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ESTRELLA RESOURCES LIMITED
DIRECTORS' REPORT | ||||||||||||||||
CBP059 | RC | 236 | 367260 | 6674140 | 442.6 | E31/726 | T5 | |||||||||
only | CBP060 | RC | 95 | 367183 | 6674383 | 445 | E31/726 | Broonhill | ||||||||
CBP061 | RC | 107 | 367232 | 6674382 | 444 | E31/726 | Broonhill | |||||||||
CBP062 | RC | 167 | 367289 | 6674384 | 443.8 | E31/726 | Broonhill | |||||||||
CBP063 | RC | 181 | 367300 | 6674386 | 443.8 | E31/726 | Broonhill | |||||||||
CBP064 | RC | 179 | 367290 | 6674383 | 443.8 | E31/726 | Broonhill | |||||||||
CBP065 | RC | 185 | 367248 | 6674667 | 446 | E31/726 | Broonhill | |||||||||
CBP066 | RC | 77 | 367299 | 6674629 | 447.1 | E31/726 | Broonhill | |||||||||
CBP067 | RC | 107 | 367377 | 6674630 | 447.2 | E31/726 | Broonhill | |||||||||
CBP068 | RC | 143 | 367463 | 6674629 | 444.8 | E31/726 | Broonhill | |||||||||
CBP069 | RC | 215 | 367463 | 6674630 | 444.8 | E31/726 | Broonhill | |||||||||
use | CBP070 | RC | 101 | 367310 | 6674869 | 444.2 | E31/726 | Broonhill | ||||||||
CBP071 | RC | 119 | 367374 | 6674869 | 442.6 | E31/726 | Broonhill | |||||||||
CBP072 | RC | 150 | 367443 | 6674869 | 442 | E31/726 | Broonhill | |||||||||
CBP073 | RC | 125 | 367597 | 6674932 | 440 | E31/726 | Broonhill | |||||||||
CBP074 | RC | 197 | 367649 | 6674933 | 442 | E31/726 | Broonhill | |||||||||
CBP075 | RC | 257 | 367709 | 6674933 | 444 | E31/726 | Broonhill | |||||||||
CBP076 | RC | 371 | 367729 | 6674933 | 444 | E31/726 | Broonhill | |||||||||
CBP077 | RC | 346 | 367481 | 6674383 | 440 | E31/726 | Broonhill | |||||||||
CBP078 | RC | 281 | 367533 | 6674625 | 442 | E31/726 | Broonhill | |||||||||
CBP079 | RC | 324 | 367528 | 6674625 | 442 | E31/726 | Broonhill | |||||||||
personalFor | CBP080 | RC | 359 | 367729 | 6674933 | 444 | E31/726 | Broonhill | ||||||||
CBP081 | RC | 317 | 367738 | 6674930 | 444 | E31/726 | Broonhill | |||||||||
CBP082 | RC | 127 | 367689 | 6675115 | 450 | E31/726 | Broonhill | |||||||||
CBP083 | RC | 239 | 367732 | 6675115 | 450.8 | E31/726 | Broonhill | |||||||||
CBP084 | RC | 239 | 367819 | 6675116 | 449.7 | E31/726 | Broonhill | |||||||||
CBP085 | RC | 233 | 367857 | 6675115 | 448.5 | E31/726 | Broonhill | |||||||||
CBP086 | RC | 131 | 367758 | 6675343 | 444.4 | E31/726 | Broonhill | |||||||||
CBP087 | RC | 131 | 367779 | 6675265 | 445.6 | E31/726 | Broonhill | |||||||||
CBP088 | RC | 125 | 367799 | 6675189 | 446.1 | E31/726 | Broonhill | |||||||||
CBP089 | RC | 167 | 367821 | 6675121 | 445 | E31/726 | Broonhill | |||||||||
CBP090 | RC | 191 | 367866 | 6675120 | 447.9 | E31/726 | Broonhill | |||||||||
CBP091 | RC | 173 | 368987 | 6676163 | 431.4 | E31/726 | Broonhill | |||||||||
CBP092 | RC | 239 | 368988 | 6676081 | 430.9 | E31/726 | Broonhill | |||||||||
CBP093 | RC | 125 | 368635.6 | 6675878 | 430.9 | E31/726 | Broonhill | |||||||||
CBP094 | RC | 191 | 368637.1 | 6675786 | 429.9 | E31/726 | Broonhill | |||||||||
CBP095 | RC | 187 | 368384 | 6675701 | 433 | E31/726 | Broonhill | |||||||||
CBP096 | RC | 83 | 368384 | 6675591 | 432.2 | E31/726 | Broonhill |
Page 5
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Estrella Resources Limited published this content on 08 March 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 08 March 2022 04:30:03 UTC.
