Lodestar Minerals (ASX:LSR) has begun drilling at its second hole at the newly identified iron oxide copper-gold (IOCG) target within the Three Saints Project in northern Chile.
The second hole follows intersections of visible chalcopyrite mineralisation in the maiden drillhole, which also returned visible magnetite, pyrite, and molybdenite, as reported by Mining.com.au earlier this month.
Assays are expected to be returned in Q2 2026, with the current program designed to confirm the continuity of mineralisation, test an identified geophysical anomaly, refine the geological model, and assess the project’s potential for an IOCG system.
The second hole of this campaign will be drilled vertically, testing the lateral and vertical continuity of the copper-bearing system, while also evaluating the potential scale of the underlying system.
Executive Director Coraline Blaud says the beginning of drillhole two is an “important step” in furthering the company’s understanding of visual sulphide copper mineralisation.
“We are now focused on defining the scale and continuity of this newly identified IOCG-system at our Three Saints Project,” Blaud says.
“In parallel, Lodestar is advancing its other Chilean project, with the geophysical crew currently on site running the induced polarisation and magnetotelluric survey at our Los Loros Project, ahead of the May drilling program.”
Lodestar Minerals is a gold and base metal explorer focused on developing its portfolio of assets in Australia, Chile, and the US.
Write to Maddison Elliott at Mining.com.au
Images: Lodestar Minerals
