Lodestar’s First Three Saints Drill Hole Hits Copper Sulphides from 190m to 600m

Exploration Breakthrough at Three Saints

Lodestar Minerals Limited (ASX:LSR) has reported a promising start to its drilling campaign at the Three Saints Copper Project in Chile’s Coastal Cordillera. The maiden diamond drill hole, L3SRD003, has intersected multiple zones of visible copper sulphides, including chalcopyrite, alongside magnetite, pyrite, and molybdenite, from 190 metres down to the hole’s end at 600 metres. This discovery marks the first recorded drilling in this previously unexplored area, targeting a geophysical anomaly indicative of IOCG (Iron Oxide Copper Gold) style mineralisation.

Geological Context and Significance

The mineral assemblages and alteration patterns observed in the drill core align with those found in the prolific Candelaria IOCG district, located approximately 65 kilometres away. While Lodestar cautions that this comparison is conceptual and not a guarantee of similar economic outcomes, the presence of chalcopyrite and magnetite within hydrothermal alteration zones is an encouraging sign. Notably, the concentration of mineralisation appears to increase with depth, and the hole ended still within mineralised zones, suggesting the system remains open for further expansion.

Drilling Strategy and Next Steps

Originally planned as a two-hole reverse circulation campaign, the drilling method was adapted to diamond drilling to improve geological logging and test greater depths. The core is currently being transported to La Serena for detailed logging, cutting, and sampling, with assays expected in the second quarter of 2026. A second diamond drill hole, L3SRD004, is scheduled to commence shortly, designed to test the extensions of the mineralised system identified by the first hole and associated geophysical responses.

Cautious Optimism Amid Pending Assays

While the visual identification of copper sulphides is promising, Lodestar emphasises that these observations are qualitative. Laboratory assays will be critical to quantify copper grades and assess the economic potential of the mineralisation. The company also plans to assay for gold and silver, which could add further value to the project. The Three Saints project benefits from favourable infrastructure, located just 20 kilometres from the Pan-American Highway and 35 kilometres from the coast, facilitating future development if results prove positive.

Broader Portfolio and Strategic Positioning

Lodestar is actively exploring several projects across critical metals, gold, and base metals, including the Los Loros Porphyry Cu-Mo-Au project in Chile and gold projects in Western Australia. The company also holds exposure to lithium through its stake in ORE Resources. The Three Saints discovery adds a potentially significant copper asset to Lodestar’s portfolio, aligning with global demand trends for copper in clean energy and electrification technologies.