Vango Mining Ltd (ASX:VAN)’s exploration partner, Lodestar Minerals Ltd (ASX:LSR), is honing in on a new gold anomaly at the Ned Creek joint venture.
Lodestar says its precious metal find is shaping up as a primary gold target, and it plans to double down on the anomaly with further drill testing.
The news comes after the explorer resampled two drill holes on the property and discovered substantial gold mineralisation, which pointed to 1,200 metres of contact for future exploration.
So far, 1-metre split samples from the Ned Creek holes have returned:
- 44 metres at more than 0.1 g/t gold from 98 metres, including 10 metres at 0.86 g/t from 131 metres; and
- 17 metres at 0.7 g/t from 122 metres, including 9 metres at 0.86 g/t from 122 metres.
The results are in
Recently, Lodestar embarked on a resampling mission at Ned Creek, out to collect 4-metre composite samples from six historical drill holes.
Vango’s joint venture partner also collected 1-metre split samples from anomalous intervals reported in the 4-metre samples from three more drill holes.
In particular, the 1-metre split samples from the south Contessa prospect and the Central Park target have confirmed extensive gold anomalies and mineralisation in areas with limited historical drilling.
The samples of note came from holes drilled 1,200 metres apart, where there’s been no drilling activity below the oxidation base, pointing to a discrete magnetic anomaly.
What’s on the cards?
Next up, Lodestar plans to extend systematic reverse circulation drilling over the 1,200-metre gap between Contessa and Central Park prospects, targeting contact-related gold mineralisation.
In the meantime, the discrete magnetic anomaly next to the contact is shaping up as a key exploration target, which will be tested by upcoming drilling.
Lodestar believes the magnetic anomaly may represent intrusion-related magnetite alteration on the perimeter of the granite or mafic rocks — a potential site of brittle-style deformation and mineralisation.
Both Vango and its joint venture partner will keep the market updated on their future endeavours.