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- Lodestar looking to deliver MRE later this year, boosted by reverse circulation drilling program underway at Ned’s Creek.
- Targeting definition, extension, growth across key prospects.
- Focus on expanding known mineralisation, unlocking additional scale.
Lodestar Minerals (ASX:LSR) is looking to deliver a maiden mineral resource estimate (MRE) this year, boosted by a reverse circulation (RC) drilling program underway at the Ned’s Creek project in Western Australia.
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The program is expected to run for two months, subject to weather and fuel availability. Initial laboratory assay results are anticipated in late May. Ned’s Creek is located 40km east of the Plutonic gold mine owned by Catalyst Metals and 180km from the town of Meekatharra and the Bluebird Mill.
Lodestar’s CEO and executive director, Coraline Blaud, said the commencement of the drill program represents a significant milestone as the company moves Ned’s Creek towards a maiden resource estimate.
“Importantly, this program is not only focused on building confidence in existing mineralisation, but also expanding the footprint of the system across multiple priority targets,” she said.
“Previous work has demonstrated the presence of a broad, mineralised gold system, and this drilling is designed to test its scale and continuity.
“With multiple prospects advanced together, we see strong potential for Ned’s Creek to evolve into a material asset. We look forward to delivering results that support this growth trajectory as the program progresses. We’re pleased to be progressing on schedule and remain focused on a maiden MRE in 2026.”
In December CY25, Lodestar unveiled an exploration target of 250,000 to 300,000 ounces of gold within a range of five to seven million tonnes at grades of 1.0 to 1.7 grams per tonne across the Gidgee Flat, Contessa, and Central Park prospects.
Ms Blaud told shareholders the exploration target highlighted the emerging scale of the mineralised system identified to date.
“Importantly, mineralisation remains open along strike and at depth, with multiple zones yet to be tested. The current drilling program is designed not only to convert this exploration target into a maiden mineral resource but also to expand the known footprint of mineralisation, supporting the potential for further resource growth beyond the initial target,” she explained today.
“The presence of multiple mineralised zones provides confidence in the potential for a larger, multi-zone gold system to be defined over time.”
LSR is steady at 2¢. Mkt cap $23.26M.
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