en.Wedoany.com Reported - Lodestar Minerals (ASX:LSR) has announced that drilling assay results from its Ned's Creek gold project in Western Australia further confirm the project's exploration target of 250,000 to 300,000 ounces of gold, corresponding to 5 to 7 million tonnes of ore at a grade of 1.0 to 1.7 grams per tonne, while also indicating potential areas for mineralisation extension.
The Ned's Creek project is located in a mature gold-producing region, near Catalyst Metals' (ASX:CYL) Plutonic Gold Mine, which produces over 100,000 ounces annually, and its processing plant. Additionally, the project is within trucking distance of Westgold's (ASX:WGX) Blue Bird processing plant near Meekatharra.
The company stated that current assay results indicate drilling outcomes fall within the exploration target range. Chief Executive Officer and Executive Director Coraline Blaud noted that mineralisation extends into the Gidgee Flat area, providing an opportunity to expand the known mineralisation footprint and further assess the broader potential of the exploration target. She emphasised that the broader Ned's Creek gold project demonstrates strong growth potential, with newly discovered lodes running nearly parallel to previously identified ones, and mineralisation extending from the supergene zone into underlying fresh rock.
Drilling has now been completed, and assay results confirm the extension of the known mineralisation system, enhancing the prospectivity of the Ned's Creek gold project. Lodestar plans to conduct its first mineral resource estimate for the Ned's Creek project during the 2026 calendar year.
In the central Gidgee Flat area, target shear zones and oxide mineralisation previously identified through RAB drilling have been confirmed by this round of RC drilling. Assay results at the margins of the oxide zone show broad, high-grade intercepts, including: vertical hole LNRC159 returned 16 metres at 3.23 g/t gold from 32 metres, including 8 metres at 6.06 g/t gold from 32 metres; and LNRC159 returned 20 metres at 1.34 g/t gold from 56 metres. The results also confirm that mineralisation at southern Gidgee Flat remains open, with the southernmost section intersecting broad mineralised zones.
Drilling completed in 2026 aimed to test mineralisation extensions, infill existing sections, and increase confidence in RAB and air-core drilling results for mineralisation in both oxide and fresh rock. These are key aspects for confirming the December 2025 exploration target and estimating mineral resources. The company stated that these results highlight the potential to expand and define a fresh rock mineralised lode system. Currently, multiple drill holes are awaiting assay results, with partial data reported where available.
