Lodestar Completes 12,400m Drilling at Ned's Creek Gold Project, First Resource Estimate Due in October

en.Wedoany.com Reported - Lodestar Minerals has announced final assay results from the 2026 resource drilling program at its Ned's Creek gold project in Western Australia, and confirmed that its maiden Mineral Resource Estimate (MRE) is scheduled for release in October. The reverse circulation drilling program comprised 12,417 metres across 106 holes and was completed in June, generating more than 6,000 assay data points, primarily covering the three main targets of Gidgee Flat, Contessa and Central Park. With the final batch of assay results now in hand, the company has the geological and assay data required to complete its maiden resource model.

Among the latest results, hole LNRC156 at the Gidgee Flat target returned 11 metres at 1.76 g/t gold, including 5 metres at 3.53 g/t; hole LNRC153 returned 7 metres at 4.69 g/t, including 2 metres at 15.29 g/t; and hole LNRC132 intersected 11 metres at 2.33 g/t. These data will be incorporated into resource modelling alongside previous drill holes to determine the size, continuity and grade distribution of the mineralised bodies.

Lodestar previously outlined an exploration target of 250,000 to 300,000 ounces of gold at Ned's Creek in December 2025, corresponding to approximately 5 million to 7 million tonnes of ore at an average gold grade of 1.0 to 1.7 g/t, covering Gidgee Flat, Contessa and Central Park. This target remains a conceptual exploration target and is not a JORC Mineral Resource; the MRE due in October will be the project's first formal resource estimate.

The company launched this resource definition drilling program in April this year with an initial plan of approximately 10,000 metres, ultimately completing 12,417 metres. The drilling objectives included infilling existing mineralisation, verifying mineralisation continuity, and testing extensions beyond the known mineralised zones. Lodestar stated that current resource modelling work continues to support its overall interpretation of the mineralised system, and the company plans to continue testing additional mineralisation potential beyond the original exploration target range in the next phase.

In addition to the resource estimate, Lodestar is concurrently advancing pre-development work at Ned's Creek, including environmental assessments and other technical studies. The company plans to progress mining tenure applications in conjunction with the October MRE results, with a target of submitting a mining lease application in early 2027. The project is located approximately 40 kilometres east of the Plutonic gold mine and approximately 180 kilometres east of Meekatharra in Western Australia, with further technical studies to continue focusing on resource scale and potential development pathways.