en.Wedoany.com Report on Mar 24th, ASX-listed company Lodestar Minerals (ASX: LSR) has commenced drilling the second hole at the newly discovered Iron Oxide Copper-Gold (IOCG) target within its Three Saints project in northern Chile. This action aims to further validate the scale and continuity of copper-gold mineralization in the area, providing crucial data for assessing its potential as an IOCG system.
The commencement of the second hole is based on preliminary findings from the first hole. Chalcopyrite mineralization intersections were observed in the first hole, accompanied by minerals such as magnetite, pyrite, and molybdenite. These discoveries, reported by Mining.com.au earlier this month, provided the geological basis for the subsequent drilling program.
The objective of the current drilling program is to confirm the continuity of mineralization, test the identified geophysical anomalies, and refine the geological model. Assay results are expected to be returned in the second quarter of 2026, which will aid in evaluating the project's economic potential and resource scale.
The second hole is being drilled vertically, focusing on testing the lateral and vertical continuity of the copper-bearing system. Executive Director Coraline Blaud stated, "The start of the second hole is a significant step in further understanding the visible sulphide copper mineralization. We are now focused on determining the scale and continuity of the newly identified IOCG system at the Three Saints project."
Blaud added, "Simultaneously, Lodestar is advancing its other Chilean projects. The geophysical team is currently on-site at the Los Loros project conducting induced polarization and magnetotelluric surveys in preparation for the drilling program in May." This reflects the company's diversified exploration activities in Chile.
Lodestar Minerals is a company focused on gold and base metals exploration, with a portfolio of assets across Australia, Chile, and the United States. The current drilling work at the Three Saints project in northern Chile is part of the company's global exploration strategy, aiming to scientifically evaluate the newly discovered IOCG target and lay the groundwork for future resource development.
