Lodestar Minerals (ASX: LSR) has discovered anomalous gold extending over a 750 metres strike at the Contessa Prospect on Lodestar’s Neds Creek tenements, 170 kilometres north of Meekatharra in Western Australia.
The Neds Creek tenements extend over 830 square kilometres of the Proterozoic Yerrida Basin and cover part of the northern structural contact with Archaean basement.
Lodestar has now completed 83 aircore holes, with the latest highlights including; 21 metres at 3.01 g/t gold from 40 metres; 4 metres at 1.24g/t gold from 51 metres; and 4 metres at 3.12g/t gold from 60 metres.
Adding potential to continued gold discoveries, the gold system open along strike in both directions - with Lodestar already planning additional drilling.
The Contessa gold system extends beyond the central sections, and based on geochemical anomalism in end-of-hole samples, it continues outside of the drilled area.
The area is largely under-explored, with ten kilometres of greenstone stratigraphy on Lodestar’s ground has had practically no historic exploration for gold, and represents a previously unrecognised extension of the Baumgarten Greenstone Belt, which hosts historic gold occurrences to the east of Lodestar’s tenements.
Lodestar is well-funded with $2.5 million in cash at the end of March 2013.
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