Exploration Target at Neds Creek Raises Stakes Amid Permit Delays in Chile

Exploration Target Defined at Neds Creek

Lodestar Minerals Limited has announced a significant milestone in its exploration efforts at the Neds Creek Gold Project, located in the northern Yilgarn region of Western Australia. The company has completed its maiden Exploration Target, estimating a tonnage range of 5 to 7 million tonnes with a gold grade between 1.0 and 1.7 grams per tonne. This translates to an estimated 250,000 to 300,000 ounces of gold, defined within an open-pit mining framework.

This Exploration Target is based on extensive geological modelling and historical drilling data, focusing on three key prospects within the project area – Gidgee Flat, Contessa, and Central Park. The modelling utilized Leapfrog software to integrate drill results and geological interpretations, highlighting mineralised trends and continuity to depths of approximately 250 metres.

Strategic Drilling Plans for 2026

Lodestar is preparing a substantial drilling program totaling around 10,000 metres, scheduled to commence in early 2026. The program aims to test strike and dip extensions, infill gaps between existing drill lines, and assess additional high-priority targets between Central Park and Contessa. These efforts are designed to validate the Exploration Target and support the advancement toward a JORC-compliant Mineral Resource estimate.

Executive Director and Head of Exploration Coraline Blaud expressed optimism about the technical insights gained, noting that while the current target is confined to an open-pit framework, there is potential for deeper mineralisation that requires further drilling to evaluate adequately.

Project Advantages and Market Context

The Neds Creek Project benefits from its proximity to established processing facilities, located within trucking distance, which could facilitate future development. Additionally, the current high Australian dollar gold price environment provides a favourable backdrop for exploration and project advancement activities, potentially enhancing the project's economic viability.

Update on Three Saints Project in Chile

Separately, Lodestar reported a delay in drilling activities at its Three Saints Project in Chile due to administrative delays in obtaining the necessary work permit from the Chilean mining authority, SERNAGEOMIN. The company anticipates resuming drilling in the first week of January 2026 and has clarified that the delay is unrelated to any operational or technical issues.

Looking Ahead

Lodestar’s methodical approach to building its geological dataset and prioritising targets based on cost and potential ounces underscores its commitment to advancing the Neds Creek Project responsibly. The upcoming drilling results will be crucial in determining whether the Exploration Target can be upgraded to a Mineral Resource, marking a key step in the project’s development trajectory.