Lodestar Minerals (ASX:LSR) is gearing up to complete ‘large-scale’ target generation work across its Earaheedy Project in Western Australia as it plans its 2024 exploration programs.
The base metal and gold explorer will be conducting a thorough review of project data upon receiving fresh assay results from diamond core drilling and 4,650 geochemical soil samples before planning any follow-up work.
Managing Director Ed Turner says: “We have submitted our final batch of soil samples for this year, which will be part of the large-scale target generation for the 2024 exploration program targeting copper and gold, as well as zinc, lead, and silver.”
“We have submitted our final batch of soil samples for this year, which will be part of the large-scale target generation for the 2024 exploration program targeting copper and gold, as well as zinc, lead, and silver”
The company plans to include geophysical data in its review, which it says can be done in more detail once all drilling data has been collected.
Meanwhile, Lodestar announced today (20 December) that it has completed a diamond core drilling program at Earaheedy that was designed to follow up on previously reported ‘significant’ gold and copper intersections.
The program comprised 3 diamond core holes for 793.40m and one reverse circulation (RC) hole for 300m.
Turner says these drilholes have provided the company with geological, mineralisation, and structural information that will support future drill planning.
Assay results are expected to be returned in late January 2024.
The Earaheedy Project covers 1,400km-square along the under-explored Earaheedy basin northeast margin in Western Australia.
Lodestar Minerals is an active base metal and gold explorer with assets in Western Australia.
As of 30 September 2023, the company had $453,000 cash and cash equivalents at hand, according to its latest quarterly report.
Lodestar also received $250,000 following the end of the September quarter as a final payment from the sale of its 20% interest in Eastern Coolgardie Goldfields (ECG) to Future Battery Minerals (ASX:FBM). The company also holds 27.5 million shares in Future Battery Minerals as a result of its sale of ECG that it can liquidate to fund company operations if needed.
Write to Aaliyah Rogan at Mining.com.au
Images: Lodestar Minerals
