Lodestar Minerals (ASX:LSR) has identified five new copper and gold targets at the Aguila prospect within the Los Loros Porphyry Project in Chile, following geophysical surveys.
The company completed induced polarisation and magnetotelluric surveys at the asset, with the new targets ranging from 150m to 800m below surface.
Lodestar says the surveys have confirmed the potential for a fully preserved, close-to-surface porphyry system.
Historical drilling returned intercepts including 136m @ 0.20% copper equivalent on the edge of target IP1, which was terminated before reaching the core of the target.
Lodestar says this result confirms the potential of these new targets, with all historical drilling conducted on the edge of or drilled short of the newly defined targets.
CEO Coraline Blaud says the five new induced polarisation targets align with surface expressions and historical drilling, proving the “potential of this project is entirely preserved”.
“We are very pleased with the results and are looking forward to starting our first drilling campaign at the Los Loros Project, which will target the copper-molybdenum porphyry as well as the high-grade epithermal gold system,” Blaud says.
“At the Three Saints Project, the maiden drilling has been an outstanding success, delineating a new, large IOCG (iron oxide-copper-gold) system in a fully undercover area, which we interpret to be similar in terms of mineralisation and alteration style to the outer zone of the significant Candelaria IOCG deposit in the region.
“Three Saints has huge potential, however, it will require a review of the newly acquired data to direct the next phase of diamond drilling.”
Lodestar completed drilling at diamond hole L3SDD004 to a depth of 611.10m. The hole presents visible sulphides and segments with ‘strong’ skarn-type alteration that is often present in local IOCG deposits.
“Having two projects in Chile with such large-scale potential demonstrates the remarkable discovery upside that exists within the Lodestar portfolio, and we are looking forward to the next steps of exploration,” Blaud adds.
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
