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Highlights
- Lodestar defines new exploration areas at Darwin Project in Chile.
- Historical workings show potential for gold, copper, and iron mineralization.
- Priority drilling targets to focus on high-grade mineralization early next year.
Lodestar Minerals (ASX:LSR) has unveiled new areas of interest at its Darwin Iron Oxide Copper-Gold (IOCG) Project in northern Chile. This discovery follows a detailed second site visit, during which the company identified several historical workings and magnetic anomalies, presenting strong exploration potential.
The newly highlighted areas, spanning a one-kilometer trend, feature multiple historical mining workings with copper and gold occurrences. Preliminary assessments indicate a significant IOCG target in the region, alongside a gold target in the eastern section of the project. This reinforces the Darwin Project's promise for diverse mineral exploration and development opportunities.
Lodestar Minerals emphasized the scale of historical workings and noted that multiple gold and copper samples have already been collected. The company plans to continue exploring the potential for small-scale mining alongside larger exploration initiatives. To support this, Lodestar is currently prioritizing drilling targets for a focused exploration program set to commence early next year. This low-cost, high-impact drilling campaign will aim to test the most evident IOCG targets as well as zones with high-grade gold and copper mineralization.
According to Managing Director Ed Turner, the discovery of additional historical workings and mineralization highlights the Darwin Project's exploration potential. He remarked, "We have defined more extensive targets, multiple additional historical workings that still have considerable potential, and excellent prospects for IOCG discoveries." Turner also highlighted the project's diverse samples of copper, gold, and iron as evidence of its compelling exploration potential.
In addition to its site findings, Lodestar Minerals is advancing its interpretation of historical magnetics and regional data, which will inform its upcoming exploration efforts. Earlier this month, the company signed an option agreement to acquire the Darwin Project from Aeramentum Resources. As part of its exploration activities, Lodestar has conducted surface rock chip sampling and drone aeromagnetic surveys, which have delineated numerous drill targets. Assay results have returned notable grades, including 247 grams per tonne gold, 8% copper, and 66% iron.
To fund its drilling plans, Lodestar Minerals recently secured $180,000 through the sale of listed equities. These funds will support the company’s initiatives at the Darwin Project early next year. Lodestar Minerals continues to focus on its exploration projects across Western Australia and Chile, demonstrating a strong commitment to advancing base metal and gold discoveries.
