Lodestar Minerals (ASX:LSR) has observed visible copper mineralisation in the maiden drillhole at the Three Saints Copper Project in Chile, observing visible chalcopyrite, magnetite, pyrite, and molybdenite.
Executive Director Coraline Blaud says the observation of chalcopyrite and magnetite is a “very encouraging indication” that the maiden hole has intersected a potential economic system.
“The alteration and sulphide assemblages identified are consistent with IOCG-style (iron oxide copper-gold) mineralisation recognised elsewhere in this highly prospective belt,” Blaud says.
“This initial program was designed as a two-hole reverse circulation campaign to a depth of approximately 350m per hole. During drilling, ground conditions and geological observations led us to transition to diamond drilling, which provided improved geological logging, clear identification of sulphide mineralisation and testing of the target at greater depth to 600m.”
The company says there is a visible increase in the concentration of mineralisation at depth.
Drill core is being transported to La Serena for logging and cutting, with assays expected to be returned in Q2 2026.
Lodestar is targeting extensions to mineralisation with a second and step out diamond drillhole. Drilling at the second hole is expected to begin shortly.
“Observing visible chalcopyrite in the first drill hole provides confidence in the geological model and supports the decision to continue drilling the target with a second diamond hole,” Blaud adds.
“It is important to note that these observations are qualitative in nature and laboratory assays will be required to determine the copper grade and significance of the mineralisation.”
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
