Lodestar Minerals strikes ‘significant’ copper at Earaheedy Project in WA

Diversified explorer Lodestar Minerals (ASX:LSR) is planning fresh reverse circulation (RC) and diamond drilling to better test ‘significant’ gold and copper targets at its Earaheedy Project in Western Australia.

The $18.43 million market capitalisation company says it has struck ‘significant’ copper intersections at 5 out of 7 targets tested in a maiden aircore (AC) drilling program at the project. Some of these intersections are coincidental with the ‘significant’ gold intersections reported on 17 July 2023.

The top intersections from the AC drilling program include hole LEA0092 with 12m @ 1,462 parts per million (ppm) Cu from 4m, including 4m @ 3,674ppm Cu from 4m; LEA0058 with 16m @ 1,124ppm Cu from 8m, including 8m @ 1,536ppm Cu from 12m; LEA0064 with 8m @ 959ppm Cu from 12m, including 4m @ 1,329ppm Cu from 12m, and LEA0007 with 24m @ 642ppm Cu from 12m.

Lodestar says the 4m to 16m interval in LEA0092 straddles the transported sediment/in situ weathered bedrock boundary, with coarse-grained conglomerate and siltstone hosting the 4m @ 3,674ppm Cu. This is accompanied by elevated silver, cobalt, bismuth, nickel, and tin grading 8ppm, 122ppm, 7.4ppm, 6,710ppm, and 141ppm, respectively.

However, the company reports copper values of more than 500ppm also occur within the weathered bedrock between 12m and 16m in LEA0091, and in the adjacent LEA0064, there is also elevated copper, with 4m @ 1,329ppm copper, 872ppm arsenic, 265ppm cobalt, 328ppm nickel, and 1,020ppm vanadium.

Lodestar says the presence of other elements such as arsenic, silver, cobalt, bismuth, and lead that are coincident with copper gives the company extra confidence that these intersections are related to a mineralised system or systems, particularly as the weathered bedrock and regolith that drilling has penetrated is usually depleted in mineral concentrations as the primary mineralisation is dispersed upon weathering.

The company says AC drilling is a useful drilling method for first-pass regional drilling but has very limited capacity to penetrate fresh bedrock. As a result, follow-up deeper RC and diamond core drilling is required, particularly in areas where there is ‘significant’ anomalism in adjacent drillholes such as LEA004 and LEA0091, where the nature of the results suggest a nearby source in the bedrock for the ‘high-grade’ mineralisation intersected.

Commenting on the initial copper results, Lodestar Managing Director Ed Turner says: “We continue to be very encouraged by the early indications from our maiden drilling program at Earaheedy.

These results confirm the potential of the project to host multiple copper-gold deposits given significant mineralisation was intersected at 5 targets spread over a wide area.

these results are very significant and have identified multiple targets that warrant deeper RC and diamond core drilling”

This first-pass aircore drilling cannot penetrate fresh bedrock, which may host massive sulphide mineralisation beneath the regolith and weathered bedrock, so these results are very significant and have identified multiple targets that warrant deeper RC and diamond core drilling. This drilling is now being planned and is expected to commence in September.

Following the recently announced significant gold intersections, these copper intersections further validate our geological model, which has gold and copper being associated, much the same as the high-grade VMS copper-gold DeGrussa deposit within the region.”

Lodestar Minerals is a Western Australian base metal, lithium, and gold explorer focused on its wholly owned Earaheedy, Jubilee Well, and Coolgardie West projects. 

Along with its wholly owned assets, the company also holds a 20% interest in the Kangaroo Hills Lithium Project with Future Battery Minerals (ASX:FBM) and is earning a 51% interest in Vango Mining’s (ASX:VAN) Ned’s Creek Joint Venture (JV). As of 30 June 2023, Lodestar had $637,000 cash at hand according to its latest quarterly report published on 31 July 2023.

Write to Harry Mulholland at Mining.com.au

Images: Lodestar Minerals Ltd
Written By Harry Mulholland
Hailing from the Central Coast region of NSW, Harry is a passionate journalist with a background in print, radio and ESG news. When not bashing away on his keyboard, he can be found brewing a coffee or playing with his dog.