Lodestar Minerals (ASX:LSR) is increasing its landholding by 3,200 hectares at the Darwin Project in Chile, after applying for the additional exploration licences.
The area under application displays similar geological and geophysical characteristics to the Darwin Project and has evidence of mining.
Lodestar says the application includes 12 exploration licences and numerous magnetic anomalies potentially associated with iron oxide copper gold (IOCG) style mineralisation.
Managing Director Ed Turner says the company is impressed with the prospectivity of the larger project area due to the evidence which compelled the company to apply for the ground.
“This is an exciting opportunity for Lodestar and its shareholders, and we believe the area has huge potential for economic gold, copper, and even iron ore mineralisation,” Turner says.
“The larger landholdings increase our chance of success, and we look forward to exploring this expanded area as well as commencing our reverse circulation drilling of the Darwin Project targets in the coming weeks.”
Lodestar is set to launch a 2,000m drilling program at Darwin to test several high-priority drilling targets alongside other priority areas for gold and copper mineralisation, as Mining.com.au previously reported.
The Darwin Project sits within one of the world’s largest IOCG belts which includes the 1.2 billion tonnes @ 0.60% copper, 0.13 grams per tonne gold, and 2g/t silver Candelaria deposit.
The region is host to several other copper deposits and gold-rich IOCG deposits, including Carola and Atacama Kozan.
Lodestar Minerals is an active base metals and gold explorer with assets in Chile and Western Australia.
Write to Aaliyah Rogan at Mining.com.au
Images: Lodestar Minerals
