Lodestar Minerals (ASX:LSR) has entered an option agreement through its wholly owned subsidiary, Tesoro Andes, with Asesorias Geomineras to acquire eight exploration licences at the Los Loros Project in Chile.
The company will pay US$30,000 ($43,048) in cash at the signing of the agreement for sole access rights to the project’s exploration licences, located 30km from the commercial port of Coquimbo.
As a part of the acquisition of these licences, Lodestar has completed a first phase of data review, two field trips, and a remote sensing analysis over the project area.
The company has planned induced polarisation and magdrone surveys at the asset and intends to acquire the data in February 2026, after historical surveys provided a lack of resolution that is attainable by modern surveys.
Lodestar intends to begin a maiden drilling campaign in April 2026, targeting the main copper-molybdenum porphyry system at the Aguila prospect, as well as the gold-rich veins overprinting the system.
Executive Director Coraline Blaud says the company is pleased to secure outcropping porphyry at the project within one of “Chile’s most established mining regions”.
“The project lies just 30km from the commercial port of Coquimbo and benefits from both a supportive mining jurisdictional setting and excellent infrastructure, including the proximity to major access routes,” Blaud says.
“Exploring an outcropping porphyry system from surface in such a favourable environment is a significant opportunity for Lodestar and combining it with a high-grade gold overprinting system similar to the Carmen de Andacollo deposit is incredibly exciting.
“We have entered 2026 with significant momentum, in what is shaping up to be a transformational year for the company as we advance a diverse portfolio of assets with the support of our outstanding geological team.”
Earlier this year, Lodestar acquired the Virgin Mountain Project in Arizona, US, as reported by Mining.com.au. The company conducted an initial site visit in November 2025.
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
