Lodestar Minerals (ASX:LSR) has begun drilling at its Three Saints Project in northern Chile to test priority copper-gold targets.
Drilling will test the geophysical anomaly at depth in order to evaluate the presence of mineralisation and alteration markets, validate and define a geological model for future exploration activities, and assess the potential scale and significance of the system.
Lodestar expects drilling to continue through the coming weeks and leverage the company’s technical understanding of its assets in northern Chile.
Executive Director Coraline Blaud says the company has faced a number of “unfortunate delays” for drilling at Three Saints, though the company is excited to begin exploration.
“This is an untested target within a highly prospective geological setting and geophysical anomaly,” Blaud says.
“This program marks the first opportunity to assess the system at depth, and we are looking forward to identifying any signs of mineralisation and alteration that could link the target to a porphyry-style system.
“The drilling represents an important step in advancing our understanding of Three Saints and its potential scale.”
Located in iron oxide-copper-gold and porphyry copper-gold belts, the Three Saints Project is proximal to the mining city of Copiapó in northern Chile.
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
