Lodestar Minerals (ASX:LSR) is targeting the Neds Creek Project in Western Australia with drilling to begin imminently to follow-up previous work within the company’s portfolio-wide exploration program.
Lodestar has designed a 1,000m reverse circulation drilling program at the Gidgee Flat prospect within Neds Creek, targeting extensions to the previously uncovered mineralisation, with assays expected to be returned within the next six weeks.
Historical assays returned intercepts of 11m @ 5.8 grams per tonne gold, 5m @ 3.4g/t gold, and 6m @ 3.7g/t gold including 1m @ 8.3g/t gold.
Head of Exploration Coraline Blaud says the company is pleased to be recommencing drilling at the Neds Creek Project at a time where the Australian gold retains renewed interest with “strong” prices.
“This program follows on from the high-grade gold shoots previously identified through Lodestar’s exploration efforts,” Blaud says.
“In parallel, we are making solid progress toward starting our October drilling campaign in Chile, targeting porphyry-style mineralisation. This is a key focus for the team, and we remain committed to delivering the program within the scheduled timeframe.”
In line with its Chilean focus, Lodestar is currently undergoing a soil sampling program at the Three Saints Project ahead of its drill testing next month, following up on the interpretation of a geophysical anomaly which has potential for a porphyry-type deposit.
This follows a recent soil sampling program across the Darwin and Nicanor projects in July. The company intends to commence drilling at the Nicanor Project later this year following the return of results.
Back in Western Australia, Lodestar has scheduled to commence geomorphological and geological studies at its wholly owned Earaheedy Project this month, intending to map the regolith cover and existing outcrops to define new targets.
Lodestar Minerals is a base metals and gold explorer focused on developing its portfolio of assets in Chile and Western Australia.
Write to Maddison Elliott at Mining.com.au
Images: Lodestar Minerals
