Lodestar Confirms High-Grade Gold Intersections at Ned’s Creek

High-Grade Gold Confirmed in Oxide Zone at Gidgee Flat

Lodestar Minerals (ASX:LSR) has reported compelling assay results from its 2026 reverse circulation (RC) drilling campaign at the Gidgee Flat prospect within the Ned’s Creek Gold Project in Western Australia. Among the highlights is a standout vertical hole, LNRC159, which intersected 16 metres at 3.23 g/t gold from 32 metres, including an 8-metre section grading 6.06 g/t. Another 20-metre interval in the same hole returned 1.34 g/t gold from 56 metres. These wide, high-grade oxide intersections confirm and extend the previously defined mineralisation envelope, reinforcing confidence in historical RAB drilling and the underlying exploration model.

Exploration Target Remains Supported Amid Pending Assays

The drilling results continue to support the Exploration Target published in December 2025, which estimates 250,000 to 300,000 ounces of gold within 5 to 7 million tonnes at grades between 1.0 and 1.7 g/t. This target covers three main prospects: Gidgee Flat, Contessa, and Central Park. While assay results have been received for 59% of samples so far, a significant number of assays remain outstanding, with resampling underway for composite samples that returned positive results above 0.2 g/t gold. The company expects to remain within the target range but notes that more data is needed to pinpoint the mineralisation’s exact position within that range.

Mineralisation Extends South and Into Fresh Rock

Notably, mineralisation at Gidgee Flat remains open to the south, with hole LNRC158 intersecting multiple narrow intervals above 1 g/t gold within a broad zone of anomalism extending from 112 metres to 248 metres downhole. This suggests the potential to expand the mineralised footprint beyond current boundaries. The results also hint at fresh rock mineralisation beneath the oxide zone, indicating the prospect’s potential to host deeper, higher-grade lodes. These findings align with Lodestar’s strategy to deliver a maiden Mineral Resource Estimate (MRE) for Ned’s Creek in calendar year 2026, marking a significant step in the project’s development.

Strategic Location Near Established Gold Infrastructure

Ned’s Creek sits in a proven gold region, close to Catalyst Metals’ Plutonic Gold Mine and plant, and within trucking distance of Westgold’s Blue Bird plant near Meekatharra. This proximity adds strategic value by potentially facilitating future ore processing options. CEO Coraline Blaud emphasised the strong growth potential of the project, pointing to new mineralised lodes sub-parallel to known zones and mineralisation extending from supergene oxide into fresh rock, which collectively enhance the project’s prospectivity.

Next Steps Toward Resource Definition

Lodestar has completed a 12,344-metre drilling program comprising 106 RC holes over two months, designed to test extensions, infill gaps, and increase confidence in oxide and fresh rock mineralisation. Geological modelling is now underway, supported by ongoing assay returns and resampling efforts. The company aims to finalise its maiden Mineral Resource Estimate later this year, a milestone that will provide a clearer picture of the project’s economic potential and guide future development decisions.