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Lodestar Minerals Ltd.
Summary
| Project: | Neds Creek | |
|---|---|---|
| Deposit: | Contessa | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 7/22/2016 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 22-7-2016: Lodestar Minerals Ltd. announces an Exploration/Drilling Update report for its Contessa deposit at the Neds Creek project. Drilling results incl. 10m @ 0.3g/t Au from 88m. West Australian gold explorer Lodestar Minerals Limited (ASX:LSR; “Lodes | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Bill Clayton (Internal) | |
| ABSTRACT: | West Australian gold explorer Lodestar Minerals Limited (ASX:LSR; “Lodestar” or “the Company”) advises that assay results for the first three of four RC drill holes completed at the Contessa gold prospect have been received. The Contessa prospect is located 170km north of Meekatharra, Western Australia within Lodestar’s 100%-owned Ned’s Creek project (see Figure 2). Lodestar has previously identified extensive supergene gold anomalism related to Archaean intrusive and supracrustal rocks in a northeasttrending, regional tectonic zone along the southern boundary of the Marymia Inlier. An induced polarisation (IP) survey at Contessa completed in May 2016 identified a strong chargeability anomaly in close proximity to significant intersections of supergene gold mineralisation1. Lodestar’s earlier RC drilling at Contessa had intersected sporadic, narrow intersections of +1g/t gold in an altered diorite intrusive displaying extensive pyrite, chlorite and sericite alteration2. Best results achieved included 5m at 9.33g/t Au from 64m (LNRC012) and 5m at 3.43g/t Au from 15m (LNRC011). In order to assist with the targeting of the bedrock host of this supergene mineralisation, Lodestar conducted detailed aeromagnetic and Induced Polarisation (IP) surveys in the area. The results identified an IP chargeability anomaly that extended for a distance of 150m with a target depth of 150m to 200m. Four RC drill holes were planned to test the IP anomaly over a 75m strike length and the drill program was completed in early July. Assay results have now been received for three of the four holes completed at Contessa. | |
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