Estrella Resources Limited has reported an exciting milestone in its maiden exploration drillhole at the Ira Miri prospect in Lautém, Timor-Leste. The drillhole, designated EMDD001, intercepted 6.45 meters of massive manganese oxide mineralisation starting from 1.35 meters downhole and ending at 7.8 meters. Notably, the interval recorded a weighted average of approximately 40.1% manganese by PXRF analysis, confirming the presence of high-grade manganese oxide similar to previous rock-chip assays. A nearby trench has also revealed manganese mineralisation just 0.7 meters below the surface, underlining the prospect’s potential for additional sub-surface extensions. The discovery marks the first modern metallic minerals exploration in Timor-Leste, providing the company with a significant first-mover advantage in an underexplored territory. The drillhole was positioned just 3 meters from the well-known outcrop at Ira Miri, where earlier assays showed manganese levels between 40.0% and 58.6%. The initial drilling program, executed in only six months from its November 2024 discovery, includes both diamond and reverse circulation drilling. However, the current man-portable diamond rig has begun to show limitations in recovering friable manganese, prompting plans to switch to a more powerful diamond drill rig within two weeks to achieve greater depths with improved recovery. Key technical details, including a comprehensive drill log and interim PXRF findings, have bolstered confidence in the company’s exploration model. The programme is set to expand with an initial commitment of 3,000 meters of diamond drilling and 10,000 meters of RC drilling, with an additional 10,000 meters of RC drilling to follow pending geological review. Collaboration with Timor-Leste government bodies, joint venture partner Murak Rai Timor, and contractor CoreSearch underscores the extensive local and international support behind the project. The news suggests both bullish and bearish elements. On the bullish side, the encounter of high-grade manganese oxide in an underexplored region, coupled with supportive early results and strategic partnerships, bodes well for future exploration potential. The aggressive drilling campaign and rapid project mobilisation also signal considerable upside. On the bearish side, the results are preliminary, and the current PXRF-based data awaits confirmation from laboratory assays, which could lead to adjustments in the grade estimates. Additionally, the technical challenges faced during drilling may impact short-term progress. Overall, while initial results are promising, investors are encouraged to consider both the operational risks and the long-term exploration potential as Estrella Resources Limited moves forward with its ambitious programme.