Lodestar Minerals (ASX: LSR) has discovered two gold anomalies of up to 300 parts per billion gold from a regional rotary air blast drilling program at the Ned’s Creek Project, within the Doolgunna project.
The company has now completed 10,000 metres across 265 holes of the planned 375 hole program to test for sediment‐hosted copper, gold and polymetallic mineralisation.
To date, results for the first 43 drill holes have been received.
Immediate follow‐up drilling is planned over a 3 kilometre strike length to systematically scope out the two anomalies and delineate potential targets.
Wide‐spaced (100 metre) drilling in the northern area of E52/2456 targeted gold and multi-element surface geochemical anomalies, in the area surrounding the Contessa bismuth‐molybdenum‐silver veins, within a major structural zone on the sediment‐granite contact.
The drilling has identified anomalous gold in adjacent holes intersecting weathered mafic‐ultramafic rocks, in an area where the granite‐sediment contact is intersected by a northwest trending fault.
A second area, 1.5 kilometres to the southwest, also reported anomalous gold and silver-tungsten results from first‐pass drilling.
One drill hole, located on the northern end of a drill traverse, 1300 metres southwest of the Contessa bismuth‐molybdenum‐silver bearing veins, reported high silver and tungsten values from 0‐4 metres.
This result suggests that silver mineralisation is derived from a source near the drill hole and extends well beyond the Contessa vein outcrop.
Initial drill and surface sampling results have confirmed large scale geochemical anomalies in the Contessa area and more detailed, systematic drilling across the projected strike of the anomalies is required.
The drilling rig is expected to be mobilised back to site in the next week to complete the initial program.