- Gold and base metals explorer Lodestar Minerals (LSR) provides an exploration update on five of its projects in Western Australia
- The company has been impacted by unseasonal wet weather throughout the state, causing delays in testing and RC drilling at Camel Hills and Earaheedy Imbin
- The Neds Creek JV project is awaiting a suitable drilling contractor prior to the start of a planned drill program to explore a discrete “bulls eye” magnetic anomaly
- Various paperworks and negotiations are still taking place at Coolgardie West and Jubilee Well
- Shares in Lodestar Minerals opened flat this morning at 0.8 cents each
Gold and base metals explorer Lodestar Minerals (LSR) has provided an exploration update on five of its projects in Western Australia.
Neds Creek JV
Located 150 kilometres north east of Meekatharra in the northern Murchison gold field, the Neds Creek JV project has significant, high-grade copper deposits in which Lodestar holds a 49 per cent interest.
With recently reported wide intersections of anomalous gold in LNRC097 and LNRC099, the company has focused its attention on the drilling gap between Contessa and Central Park prospects and an untested “bulls eye” magnetic anomaly.
The discrete magnetic anomaly is considered a priority target for RC drilling and geophysical modelling is underway to resolve the depth and orientation of the target.
The company said its program of work approval is in place and will commence drilling when a suitable contractor can be mobilised to site.
Camel Hills
Also within the northern Yilgarn margin, the Camel Hills project is a strong regional gold anomaly with potential for high grades.
Lodestar has completed a site visit and rock chip sampling over the extensive gold in soil anomaly trending over 3.6 kilometres north-east from the Big Sky prospect.
The company has dedicated development and testing of multiple exploration targets across its extensive portfolio when weather conditions and contractor availability allow.
Earaheedy Imbin
Located 180 kilometres northeast of Wiluna, the Earaheedy Imbin project is host to significant historic copper and gold anomalies extending over 20 kilometres.
There has been delays caused by unseasonal wet weather to the planned extensive soil geochemistry and fixed loop EM surveys.
The company planned to commence the surveys in May but has been inaccessible due to the unseasonal wet weather.
Lodestar has assured it is closely monitoring weather conditions to determine when the programs can commence, with the aim of starting this month without additional rain.
Coolgardie West
An access agreement with various holders of a miscellaneous licence has been finalised at the Coolgardie West project, lifting an objection that has delayed the tenement grant.
Currently, the company is engaged with traditional owners and is in the final stages of negotiating a heritage and land access agreement.
Once completed, Lodestar will file a program of work.
Jubilee Well
Planned RC drilling of the gold target at Jubilee Well, located two kilometres along strike from the 100,000-ounce gold Golden Delicious deposit, is progressing. Drill collars have been marked out and the area is now awaiting heritage clearance.
Shares in Lodestar Minerals opened flat this morning at 0.8 cents each.