Estrella Resources (ASX:ESR) identified manganese from one of four recently awarded exploration license areas in Timor-Leste, according to a Monday filing with the Australian bourse.

Initial exploration at the Samalari prospect area identified manganese outcrops across 1.7 kilometers of strike and 5 kilometers in width with yields of up to about 54% and 33% manganese, the miner said in the filing.

Shares of Estrella Resources declined 29% in recent Monday trade but earlier hit a new 52-week high.

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