Lodestar Minerals Ltd's (ASX:LSR) shares are defying the normal quiet trading period, and have doubled in value to $0.018 with over 26 million changing hands.
Driving the positive re-rating has been the discovery of a gold system 35 kilometres from the Plutonic Belt in Western Australia.
Drilling results from 75 air-core and two reverse circulation drill holes completed across the wholly-owned Neds Creek Project and Yowereena Farm-in confirm a major gold system.
Starting at Neds Creek, the Contessa prospect yielded 10 metres at 1.4g/t gold from 138 metres, while across at Gidgee Flat highlights included 15 metres at 3.2g/t gold from 72 metres and 20 metres at 2.4g/t gold from 44 metres.
Moving to Yowereena where Lodestar is earning 80%, first–pass reconnaissance air-core drilling returned thick intersections of shallow gold mineralisation such as 16 metres at 1.6g/t gold from 28 metres and 12 metres at 1.7g/t gold from 48 metres.
Results represent a step-change in realising the gold potential at Neds Creek and support the potential for the discovery of economic resources.
Follow up drilling at Neds Creek will be undertaken as soon as practicable in the March quarter 2018.