Lodestar fires up the drill rig for copper-gold porphyry hunt at...

Lodestar fires up the drill rig for copper-gold porphyry hunt at Three Saints

• Lodestar Minerals has commenced drilling to test a highly prospective geophysical anomaly at its Three Saints copper and gold project in Chile
• The target structure is interpreted to show characteristics of a large-scale porphyry system.
• The drilling program marks the first time the target is being tested.

Special Report: Lodestar Minerals has fired up the drill rig to test a highly prospective geophysical anomaly at its Three Saints copper and gold project in Chile, interpreted to show characteristics of a large mineralised system.
More specifically, the drilling is designed to assess the “porphyry-like” anomaly at depth.
It will test for the presence of mineralisation and alteration markers at the interpreted target, whilst validating and defining a geological model to support future exploration.
Three Saints hosts an under cover target and remains untested.
However, multiple historical workings on the edge of the cover hint at the project’s deeper potential.
Lodestar Minerals (ASX:LSR) drilling will now evaluate the scale and potential economic significance of the system that could be lurking underneath.
“This is an untested target within a highly prospective geological setting and geophysical anomaly,” noted Lodestar Minerals executive director and head of exploration Coraline Blaud.
“This program marks the first opportunity to assess the system at depth, and we are looking forward to identifying any signs of mineralisation and alteration that could link the target to a porphyry-style system,” she said.

Chilean exploration potential

Chile is the largest copper producer in the world.
And the wholly owned Three Saints forms part of Lodestar’s exploration footprint within the nation and is located within one of the world’s largest IOCG belts.
More broadly, the region hosts several significant copper deposits, including Candelaria where a 1.2Bt resource at 0.60% copper and 0.13g/t gold has been defined.
Other notable IOCG deposits in proximity include Atacama Kozan with 50Mt at 1.6% copper and 0.35g/t gold.

New string to Lodestar’s bow

Lodestar recently snapped up the drill-ready Los Loros copper, molybdenum, and gold porphyry project, located to the south of Three Saints.
Here, a significant porphyry system has been identified through outcrop mapping and historical drilling. Past intercepts included 136m at 0.20% copper equivalent from 134m.
Furthermore, the porphyry system is overprinted by high-grade gold-bearing epithermal veins, with past drilling including 20m at 3.67g/t gold from 132m.
All up, a total of 36 holes were drilled in the past across the project area.
However, management noted that most of these drillholes were relatively shallow, reaching less than 150m depth.
Lodestar is now targeting a maiden drilling program at Los Loros for April this year.

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