Lodestar Minerals (ASX:LSR) has completed a maiden reverse circulation drilling program at the Darwin Iron-Oxide Copper Gold Project in Chile.
The program comprised 16 holes for 2,026m of drilling and was extended following the discovery of additional quartz-calcite veins with copper and iron oxide mineralisation at surface.
Lodestar says these veins were found between the southern and central targets, indicating a possible link to both targets. The company adds there is continuity of the vein system over more than 1km of strike length.
Managing Director Ed Turner says all samples have been dispatched to the local ALS laboratory for assaying.
“Multiple intervals within the 16 drillholes have also been submitted for rush turnaround assaying which means we will get results in approximately half of the normal time,” Turner says.
“These intervals were identified during geological logging of the RC chips and were usually quartz and/or calcite veins which we believe have the best chance of being mineralised based on the evidence from the historic mine workings.”
Lodestar expects to report the results from these assays over the coming weeks.
The Darwin Project lies in a region that hosts numerous copper deposits and gold-rich IOCG deposits, such as Carola which contains 10 million tonnes @ 1.8% copper and 0.5 grams per tonne gold, and Atacama Kozan which contains 50 million tonnes @ 1.6% copper and 0.35g/t gold.
Lodestar Minerals is an active base metals and gold explorer focused on its project portfolio in Chile and Western Australia.
Write to Aaliyah Rogan at Mining.com.au
Images: Lodestar Minerals
