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Lodestar Minerals Ltd.
Summary
| Project: | Neds Creek | |
|---|---|---|
| Deposit: | Contessa | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 11/13/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 13-11-2017: Lodestar Minerals Ltd. announces an Exploration/Drilling Update report for its Contessa deposit at the Neds Creek project. Drilling results incl. 1.4m @ 1.88g/t Au from 93.2m. West Australian gold explorer Lodestar Minerals Limited (ASX: LSR) | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Bill Clayton (Internal) | |
| ABSTRACT: | West Australian gold explorer Lodestar Minerals Limited (ASX: LSR) (“Lodestar” or “the Company”) provides the following update from recently completed EIS co-funded drilling at the Contessa gold prospect. Contessa is located on the Company’s 100%-owned Neds Creek project, 170 kilometres north of Meekatharra and 35km east of the 5Moz Plutonic Gold Mine (see Figure 1). Lodestar completed two diamond drill holes targeting a zone of primary gold mineralisation intersected at the end of hole in the previous program of aircore drilling (see ASX announcements dated 18 October 2017 and 31 October 2017). Results for the first 29 of 220 core samples submitted for assay have been received with significant results listed in Table 1 and all results listed in Appendix 1. Diamond drilling has provided an important breakthrough in our understanding of the primary gold target at Contessa. It is apparent that previous drilling was concentrated to the south of the target and drilled parallel to the main structure. The target is identified as a mineralised structural contact between geological units, adjacent to a major shear zone developed on the margin of the Contessa granite. This structural setting is a characteristic of many well-documented, structurally controlled gold deposits including major deposits such those in the Granny Smith area. Currently the contact has been tested by only one drill hole (LND001) and the target remains open down-dip and along strike, where diorite has been intersected in aircore drilling over a distance of 2,000 metres. A program of follow-up RC drilling is required to systematically test the potential of the wider area and an RC rig has been scheduled for November, commencing with an initial step-out hole below LND001 to test for down dip extensions. | |
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