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- Copper associated with gold, cobalt and molybdenum in multiple mineralisation events
- Assays confirm potential for IOCG-style mineralisation
- Multiple mineralisation events identified from the mineralisation assemblage
- Mineralisation is structurally controlled with multiple anomalous intervals
Lodestar Minerals (ASX:LSR) has received positive assay results for the first diamond hole completed at the Three Saints IOCG project in Chile. The assays have confirmed the previously reported visual mineralisation and demonstrated the presence of copper, gold, cobalt, and molybdenum mineralisation across multiple mineralised events related to IOCG and hydrothermal style mineralisation.
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The explorer’s CEO, Coraline Blaud, today said hole L3SRD003, the initial drill hole completed at Three Saints, has provided a strong indication of the project’s prospectivity and the potential scale of the mineralising system.
“The assays confirm the presence of gold and cobalt associated with copper and iron; a geochemical signature consistent with IOCG-style mineralisation,” she said.
“In addition, the results have identified further mineralising events associated with silica-rich veins carrying gold with variable copper and molybdenum, highlighting the complexity and fertility of the system.
“Consistent with our visual observations, mineralisation in this hole appears to be largely structurally controlled. Encouragingly, multiple intervals of significant mineralisation have been intersected throughout the hole, demonstrating the persistence of mineralising processes across a substantial vertical extent.”
Ms Baud said the results have provided increased confidence in the exploration potential of Three Saints. “Our next steps will focus on reviewing and reinterpreting the available geophysical datasets against the new drillhole-derived geological information, with the objective of better defining the controls on mineralisation and targeting the core of the system for the next drilling campaign.”
The assays received for hole L3SRD003 confirm the sulphide mineralisation recognised in the core logging with the first signs of anomalous copper mineralisation starting at 196m depth and observed all the way until the end of hole at 600m.
LSR is steady at 1.1¢. Mkt cap $12.82M.
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