Lodestar Minerals (ASX:LSR) has delivered a maiden mineral resource estimate (MRE) of 5.9 million tonnes (Mt) at 1.16 grams per tonne gold (Au) for 221,000 ounces at its 100%-owned Ned’s Creek Gold Project in Western Australia.
The MRE, reported at a 0.5g/t Au cut-off, is classified entirely as inferred. It comprises three deposits, with Gidgee Flat contributing 125,000 ounces, Contessa 69,000, and Central Part 26,000.
Oxide and transitional material accounts for roughly 47% of the gold content, totalling 2.76Mt @ 1.17g/t Au for 103,000 ounces.
Alongside the maiden resource, Lodestar has defined a new exploration target of 5.8–7.1Mt @ 0.86–1.15g/t Au for 159,000–264,000 ounces. The target encompasses extensions along strike and at depth across the three deposits.
The company notes that the potential quantity and grade is conceptual, and further exploration is required to estimate a mineral resource.
Ned’s Creek is located about 40km east of Catalyst Metals’ (ASX:CYL) Plutonic Gold Mine and processing plant. The project is also within trucking distance of several operational facilities, including Westgold Resources’ (ASX:WGX) Bluebird, Andy Well, and Fortnum operations.
Lodestar says these provide potential development pathways, including toll treatment, ore-sale arrangements, and joint ventures.
CEO and Executive Director Coraline Blaud says the estimate provides a “foundation for the next phase of exploration”.
“Follow-up drilling [is] planned to improve geological confidence, support future resource upgrades, and test extensions along strike and at depth,” Blaud notes.
Follow-up drilling is planned to commence in the December 2026 quarter, aiming to test the exploration target and support a resource update in 2027.
In parallel, technical studies and environmental assessments are progressing to support a planned mining lease application in early 2027.
“Our next phase of drilling will focus on assessing this exploration target and improving geological confidence in the existing resource,” Blaud says.
Lodestar Minerals is a diversified explorer advancing a portfolio of gold, copper, and rare earth projects across Chile, Western Australia, and the US.
Write to JC Villarba at Mining.com.au
Images: Lodestar Minerals
