- Lodestar Minerals (LSR) launches a reverse circulation drilling program at the Ned’s Creek project in Western Australia
- The project is held in joint venture with Vango Mining (VAN), which holds a 51 per cent interest by contributing $5 million of expenditure over three years
- The new bout of drilling will target a discrete magnetic anomaly within the mineralised Contessa shear zone, adjacent to the granite contact
- The target and adjacent shear zone will initially be tested by up to four reverse circulation drill holes, to a depth of up to 200 metres
- Lodestar Minerals last traded at 0.7 cents at 12:31 pm AEST
Lodestar Minerals (LSR) has launched a reverse circulation drilling program at the Ned’s Creek joint venture (JV) project joint on the Yilgarn Craton margin, Western Australia.
The project is held in a JV with Vango Mining (VAN), who holds a 51 per cent interest by contributing $5 million of expenditure over three years.
The new bout of drilling will target a discrete magnetic anomaly within the mineralised Contessa shear zone, adjacent to the granite contact.
The magnetic anomaly has been modelled as a 200 metre-long body, dipping to the southeast.
The target and adjacent shear zone will initially be tested by up to four reverse circulation drill holes, to a depth of between 150 and 200 metres.
Previous drilling along strike to the northeast of the magnetic feature returned anomalous gold, with one hole reporting elevated gold from 60 metres to the end of hole at 84 metres, with a maximum grade of 3.14 grams of gold per tonne.
Lodestar Minerals last traded at 0.7 cents at 12:31 pm AEST.