Lodestar Minerals has identified five new copper-molybdenum-gold porphyry targets at Los Loros, Chile, and confirmed encouraging IOCG-style alteration at Three Saints, setting the stage for maiden drilling campaigns.
- Five new IP targets defined at Los Loros from 150m to 800m depth
- Historical drilling missed core zones of newly identified porphyry targets
- Three Saints drill hole confirms skarn alteration typical of IOCG systems
- Maiden drilling at Los Loros scheduled for June 2026
- Further assay and geophysical reviews planned before deeper Three Saints drilling
New Porphyry Targets Uncovered at Los Loros
Lodestar Minerals (ASX:LSR) has unveiled five fresh copper-molybdenum-gold targets at its Los Loros Project in Chile, courtesy of recent geophysical surveys combining Induced Polarisation (IP), Magnetotelluric (MT), and drone magnetometry. These targets, ranging from 150 to 800 metres below surface, align closely with surface geology and historical drilling, which notably failed to penetrate the core of these anomalies.
The largest anomaly, IP1, is interpreted as a sulphide-rich pyritic core, with historical drill hole LLO-011 intercepting 136 metres at 0.20% copper equivalent (CuEq) near its edge but terminated prematurely before reaching the core. Other targets such as IP2 and IP3 show strong correlations with previous drilling results, including high-grade gold intercepts, while IP4 and IP5 represent untested zones at depth or along structural fault lines.
The drone magnetic survey has been instrumental in mapping key structural controls, notably the Santa Gracia Fault, which appears to segment the prospect into blocks with varying degrees of exhumation and mineralisation potential. This structural insight adds a new dimension to targeting, providing a framework for depth variation across the IP targets.
Three Saints Drilling Highlights Skarn Alteration
At the Three Saints IOCG Project, the recently completed diamond drill hole L3SDD004 reached 611 metres, revealing visible sulphides and skarn-type alteration typical of IOCG deposits in the region. The presence of garnet and epidote within a hydrothermal breccia interval suggests proximity to a volcano-sedimentary basin, a geological setting favourable for copper mineralisation.
While these observations are qualitative pending laboratory assays, the alteration style and sulphide mineralisation bear resemblance to the outer zones of the nearby Candelaria IOCG deposit. This adds weight to the prospect’s potential but also underscores the need for comprehensive geochemical analysis to confirm economic viability.
The company plans a detailed mineralogical and geochemical review of drill core from both L3SDD004 and the earlier L3SRD003 hole, alongside reprocessing magnetometry data to refine lithological interpretations. A second phase of drilling is anticipated to target deeper, copper-rich zones following the upcoming Los Loros campaign.
Upcoming Drilling and Exploration Strategy
Lodestar is preparing to commence its maiden drilling program at Los Loros in June 2026, pending work permit approvals. This campaign will integrate the latest geophysical data with historical drilling and surface geochemistry to test both copper-molybdenum porphyry and high-grade epithermal gold systems.
Following this, the company intends to revisit the Three Saints Project with a second drilling phase aimed at delineating the core of the IOCG system. This sequencing reflects a strategic approach to advancing two high-potential projects in Chile, each with distinct mineralisation styles and exploration challenges.
CEO Coraline Blaud emphasised the significance of these findings, noting the “remarkable discovery upside” in Chile and expressing optimism about unlocking further value through upcoming drilling. This momentum builds on recent successes, including visible copper mineralisation extending over 700 metres at Three Saints, as reported in April 2026, which confirmed the scale of the IOCG system and set expectations for assay results in the near term visible copper mineralisation.
The exploration push in Chile complements Lodestar’s broader portfolio, which includes critical metals and gold projects in Western Australia and the USA, positioning the company across multiple commodities and jurisdictions. The appointment of Coraline Blaud as CEO earlier this year also signals a leadership focus on capitalising on this exploration surge executive leadership changes.
Bottom Line?
Lodestar’s expanded porphyry targets and promising IOCG alteration in Chile set a critical test for upcoming drilling campaigns, with assay results poised to shape the next exploration phase.
Questions in the middle?
- Will maiden drilling at Los Loros confirm the depth and grade continuity of the newly identified porphyry targets?
- How will assay results from Three Saints influence the scale and focus of the next drilling phase targeting the IOCG core?
- Can structural insights from magnetometry surveys at Los Loros translate into improved targeting and resource definition?