Lodestar Minerals (ASX:LSR) has found significant copper and gold anomalies at its Neds Creek prospect in Western Australia.
Lodestar had been undertaking extensive geochemical sampling, regional aircore drilling and geological mapping programs at Neds Creek including in Little Well and Brumby prospects throughout 2012.
At Little Well large scale structures, hydrothermal alteration and extensive soil and rock chip copper anomalies define the area as a priority copper target and have returned grades of up to 3.3% Cu.
A drill hole drilled to test VTEM anomaly in 2011 showed extensive chlorite alteration and further ground electromagnetic tests are likely to provide better definition of the mineralisation. Sampling of the area adjacent to this anomaly has resulted in anomalous copper values of 1470 parts per million.
The area will be the first priority of the aircore drilling program planned for the December quarter. A reconnaissance ground EM survey will commence shortly, and will target potential massive sulphide conductors to be tested in the future by deeper drilling.
Log sampling at the Brumby prospect identified anomalous gold over a large area of the northern part of the tenement with recent assay results from reconnaissance sampling reporting a maximum of 5.8 gram per tonne of gold and 68 grams per tonne of silver.
The Neds Creek extend over 830 square kilometres and are located 2 kilometres southeast of the Thaduna copper mine, currently being evaluated by Ventnor Resources (ASX:VRX) and immediately east of Sipa Resource’s Enigma copper prospect.
Lodestar shares were up over 23% today.
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