Lodestar Minerals (ASX:LSR) has elected to not exercise its option over the Darwin Project, located in Chile.
The company received the option to purchase the project from Coastal Metals Chile on 9 December 2024.
Previously speaking to Mining.com.au, Executive Chairman Ross Taylor reflects on Lodestar’s 2025 exploration in Chile as a “foundational year”.
“We navigated several hurdles that are common in Chile — including land access sequencing, regulatory processes, and the integration of new datasets across large, underexplored tenements,” Taylor says.
“What surprised us was the speed with which we were able to assemble an excellent in-country team who have been able to consolidate geological information into a coherent exploration strategy.
“These challenges ultimately strengthened our technical approach and accelerated our ability to prepare high quality, drill-ready targets and identify future targets.”
Taylor explains that the company will escalate its Chilean focus in the next year with technical and operational activities.
“In 2026, Lodestar’s growth profile is centered on executing our exploration programs in Chile and maturing the most advanced targets toward drill-testing and potential discovery,” Taylor tells this news service.
“Our strategy is simple but powerful: focus capital on the highest-conviction targets, expand our understanding of the mineralised systems, and leverage Chile’s world-class copper–gold endowment to build scale.
“If successful, 2026 becomes the year Lodestar moves from an early-stage explorer into a recognised copper–gold discovery story.”
The Darwin Project is located amongst numerous copper deposits and gold-rich iron oxide gold-copper deposits in Chile including the Candelaria deposit, which hosts 1.2 billion tonnes @ 0.60% copper, 0.13 grams per tonne gold, and 2.0g/t silver.
Lodestar Minerals is an active base metals and gold explorer focused on its project portfolio in Chile and Western Australia.
Write to Maddison Elliott at Mining.com.au
Images: Lodestar Minerals
