Lodestar Minerals (ASX:LSR) is gearing up to launch a reverse circulation drilling program early next month at the Darwin Iron Oxide Copper-Gold Project in northern Chile.
Several high-priority drill targets have been defined for a low-cost, high-impact drilling program, comprising 2,000m of drilling, targeting the most attractive IOCG targets.
The drilling program will also target other priority areas for gold and copper mineralisation.
Managing Director Ed Turner says initial drill targets are considered highly prospective for gold and copper mineralisation as validated by rock chip samples from historical workings.
“The multiple historical workings have considerable potential for future production, as well as some excellent prospects for IOCG discoveries,” Turner says.
“The presence of copper, gold, and iron samples across the project area clearly indicates that Darwin has compelling exploration and development upside.”
Once drilling is completed, the company intends to also assess the potential for small-scale and near-term mining opportunities.
The Darwin Project lies within one of the world’s largest known IOCG belts which includes the Candelaria deposit that contains a resource of 1.2 billion tonnes @ 0.6% copper, 0.13 grams per tonne gold and 2g/t silver.
Lodestar Minerals is a base metals and gold explorer focused on its Darwin Project in Chile, as well as the Earaheedy, Ned’s Creek, and Coolgardie West projects in Western Australia.
Write to Aaliyah Rogan at Mining.com.au
Images: Lodestar Minerals
