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Highlights
Lodestar Minerals enters agreement to earn majority stake in Nicanor Project
The project is located in Chile's Coastal Iron-Oxide Copper-Gold Belt near existing company assets
Extensive surface exploration highlights multiple high-priority mineralisation zones
Base metals and gold exploration company Lodestar Minerals (ASX:LSR), listed on the ASX 300, has expanded its footprint in Chile by securing rights to earn a majority stake in the Nicanor Project. The asset is positioned along the Atacama Fault System in a region known for copper-gold mineralisation.
The agreement with Consultoría y Servicios Mineros enables Lodestar to progressively increase its stake up to a defined cap through staged expenditure commitments and study milestones. The Nicanor Project lies in proximity to Lodestar’s existing Darwin and Three Saints projects, creating operational synergies for regional exploration.
Three-Stage Earn-In Agreement to Strengthen Regional Focus
The structured agreement provides Lodestar with an initial entry point into the project through a minimum exploration expenditure phase. Subsequent stages involve resource definition and advanced studies that would see Lodestar’s ownership expand progressively.
Upon reaching the final stage, the current project owner retains the option to either form a joint venture or sell the remaining interest at a mutually determined valuation. During the entire term of the agreement, Lodestar maintains full control over the project's exploration execution and technical design.
Exploration Highlights Indicate Multielement Mineralisation
Early exploration at the Nicanor Project has revealed high-grade rock chip samples with indications of copper, gold, iron, and cobalt mineralisation. These results, derived from geophysical work, geological mapping, and sampling, have led to the delineation of several high-priority targets.
The geological setting within the Coastal Iron-Oxide Copper-Gold Belt enhances the strategic value of Nicanor, with mineralisation patterns consistent with other notable discoveries across the region. Lodestar notes that while three targets have already been identified, additional zones remain under evaluation.
Chile Presence Expands Lodestar’s Global Base Metals Strategy
With the inclusion of Nicanor into its portfolio, Lodestar further consolidates its position in Chile’s mining landscape. The project's location relative to Lodestar’s other holdings allows for streamlined operations and integrated exploration programs.
Lodestar Minerals continues to pursue discoveries across its dual jurisdictional presence in Western Australia and Chile. The company’s focus remains on unlocking value in base metals and gold-rich systems within established mineral provinces.
