Lodestar Minerals (ASX: LSR) has received assays from first pass drilling at McDonald Well within the Ned’s Creek, Peak Hill‐Doolgunna Project which confirm widespread copper anomalies up to 1220 parts per million (0.12%).
Other significant intersections include 11 metres at 412 parts per million (0.04%) copper and 0.8 parts per million silver from 52 metres, and 8 metres at 727 parts per million (0.07%) copper and 1.3 parts per million silver from 40 metres.
These anomalies are comparable to those identified in first pass drilling elsewhere within the district and confirm that the shale sequence is regionally anomalous in copper ore-forming metals.
Results for the first 95 drill holes, of the 265 completed to date, have been received, including the first holes drilled on north to south oriented traverses along strike from Sipa Resource’s Enigma copper prospect.
The regional drilling program represents the second stage of a multi‐stage program to identify geochemical anomalies worthy of deeper drilling.
Lodestar has completed 10,000 metres across 265 holes of the planned 375 hole program to test for sediment‐hosted copper, gold and polymetallic mineralisation.
Interpretation of the drilling results is at a preliminary stage as assays from limited numbers of the total holes drilled have been received to date.
A number of holes were limited in depth by silcrete – a hard, cemented duricrust – developed in the western part of the tenement.
Lodestar plans to re‐drill these areas to base of weathering with a small reverse circulation rig later in the program.
Follow up drilling and additional work will be undertaken to test the identified targets as soon as possible.