High-Grade Initial Drilling Intersections from Ned’s Creek Western Australian gold explorer Lodestar Minerals Limited (ASX: LSR) (“Lodestar” or “the Company”)
advises that promising results have been received from the Contessa prospect (within the Ned’s Creek Project), currently the focus of drilling by joint venture partner, Vango Mining Ltd (“Vango”).
Vango is spending $5 million over a 3 year period to earn a 51% interest in the Neds Creek Project.
Key highlights from the release made by Vango are as follows:
– RC drilling at the Contessa prospect has returned the following significant intersections directly up-plunge and south west from Lodestar’s previously reported bonanza gold
intersection in LNRC0261
o 16m @ 2.16g/t Au from 84m, including 4m @ 9.63g/t Au in VCTRC0003 and
o 5m @ 2.42g/t Au from 46m, including 2m @ 4.94g/t Au in VCTRC0002
• These results advance the primary objective of defining a maiden resource for Contessa, located 25km from Vango’s adjacent Marymia Gold Project.
• A resumption of RC drilling, targeting oxide and down-plunge extensions to the Contessa mineralisation to define potential open-pit and underground resources, is planned once
cyclone-related weather events allow.
• Up to 0.46% copper, 2% lead and 0.33% zinc, also reported from VCTRC0003, highlights the potential for volcanic hosted massive sulphide style or other base metal mineralisation at
• First-pass drilling on the northern contact of the granite intersected anomalous gold and a coincident nickel-copper anomaly within ultramafic rocks. The drill results demonstrate
significant potential for gold and base metals, including nickel sulphides, within the greenstone margin and in-fill and extension drilling is planned.