Lodestar Minerals (ASX:LSR) is conducting an ongoing review of current and new geochemical data to delineate new drill targets at the Earaheedy Project in Western Australia.
The geochemical data will be incorporated with geological and geophysical data which will support defining targets for the first half of this year.
As previously reported, 16 base metal anomalies were defined via a first-pass geochemical soil sampling program, which now require infill soil sampling to better delineate more discrete anomalies prior to planning drill testing.
Due to extensive rainfall, the closer-spaced infill geochemical soil sampling program had been delayed until the first week of April 2024.
Managing Director Ed Turner says infill sampling has begun over the anomalies, as well as first-pass programs for the remaining untested areas.
“These will lead to definition of drill targets for 2024.”
At the Coolgardie West Project, as previously reported, Lodestar was granted a further 59km2 with tenement E15/2013 which is considered prospective for gold, nickel, and lithium.
Soil sampling at the project has uncovered two anomalous gold zones. The company plans to drill these target zones in the second quarter of 2024, following an infill soil sampling program, heritage clearances, and program of work approvals.
“This round of fieldwork will allow us to better define key drill targets for testing over the coming months. With gold and copper market strengthening, Lodestar will also continue to prudently assess new opportunities as they come to hand,” Turner says.
Lodestar says the gold anomalies peak at 69 parts per billion and cover more than 3km of strike length.
Meanwhile at the Ned’s Creek Project, Lodestar is expected to define new gold targets that can be drilled during the June quarter, following the current internal technical review.
Lodestar Minerals is an active explorer focused on base, precious, and critical metals in underexplored provinces.
As of 31 March 2024, the company had $149,000 in cash and cash equivalents at hand, according to its latest quarterly report.
Write to Aaliyah Rogan at Mining.com.au
Images: Lodestar Minerals
