Early Drilling Assays Highlight Potential at Lodestar’s Chile IOCG Projects

Updated Presentation Reflects Exploration Progress

Lodestar Minerals Limited has released a revised investor presentation that refines its exploration narrative following ASX feedback. The update notably removes sample images and statements referencing visual mineralisation, ensuring compliance with regulatory standards. It also cross-references geophysical survey data to prior ASX announcements, reinforcing transparency around its exploration results.

Chile Projects Show Early Promise

The company’s Darwin and Three Saints projects, situated in Chile’s prolific Iron Oxide-Copper-Gold (IOCG) and Porphyry Copper Deposit belts, remain the focal point. Initial reverse circulation (RC) drilling has revealed alteration minerals indicative of IOCG and porphyry-style mineralisation, alongside quartz-calcite veins aligned with the Atacama Fault System, a known mineralised corridor. While over 60% of assay results are still pending, the early data suggests potential for significant copper and gold mineralisation at depth.

Strategic Location and Infrastructure Advantages

Lodestar’s tenements benefit from excellent infrastructure, including sealed roads, proximity to major highways, high-voltage electricity, and closeness to mining hubs like Copiapó. Nearby established mines such as Lundin Mining’s Candelaria and Tintina Mines’ Dos Amigos provide valuable geological context and resource benchmarks, underscoring the projects’ potential within a world-class mining district.

Upcoming Exploration Activities

Looking ahead, Lodestar plans a drone-based magnetometry survey in June, followed by a reconnaissance field visit to reassay quartz veins and plan soil sampling campaigns in July. These soil samples will target newly defined prospective areas, particularly those under cover where mineralisation remains untested. A second drilling campaign is anticipated for August or September, aiming to build on the initial encouraging results and further delineate mineralised zones.

Broader Portfolio and Strategic Exposure

Beyond Chile, Lodestar maintains significant exploration interests in Australia’s Earaheedy Basin and Ned’s Creek gold project, both showing promising geological signatures. Additionally, the company holds performance rights convertible into shares of Future Battery Minerals, which owns the Coolgardie Lithium Project in Western Australia, providing exposure to the growing battery minerals sector.

Governance and Expertise

Lodestar’s board and technical team bring a blend of geological and financial expertise. Head of Exploration Coraline Blaud, a competent person under JORC standards, leads the technical efforts with extensive experience in greenfields exploration. Executive Chairman Ross Taylor and Non-Executive Director David McArthur contribute strong financial and mining industry backgrounds, supporting the company’s strategic direction.