Lodestar Minerals Limited (LSMLF) Second Diamond Drillhole Commenced at Three Saints IOCG Project in Chile
Lodestar Minerals Limited (ASX:LSR) (OTCMKTS:LSMLF) announced the commencement of the second drillhole at the newly identify IOCG target at our Three Saints Project in northern Chile. This second diamond drillhole is a follow up of L3SRD003 which intercepted visible chalcopyrite (copper sulphide) mineralisation between 190m to 600m - End of Hole (EOH) (refer ASX announcement 12 March 2026).
HIGHLIGHTS
- Second diamond drill hole underway following encouraging visual copper sulphide mineralisation from maiden hole at the Three Saints project
- Program designed to test continuity and scale of potential mineralised IOCG-system
- Assay results from Three Saints drill holes expected in Q2 2026
- IP + MT geophysical surveys underway at Los Loros Porphyry project, Chile
Commenting on the follow up of the drilling, Lodestar Executive Director and Head of Exploration Coraline Blaud said: "The commencement of our second diamond hole marks an important step in following up the encouraging visual sulphide copper mineralisation observed in our maiden hole. We are now focused on defining the scale and continuity of this newly identified IOCG-systemat our Three Saints Project. In parallel, Lodestar is advancing its other Chilean project, with the geophysical crew currently on site running the IP+MT survey at our Los Loros project, ahead of the May drilling program."
SECOND DRILL HOLE COMMENCED AT THREE SAINTS PROJECT
The Company has commenced the drilling of its second diamond hole L3SRD002 (referred to in the announcement from 12 March 2026 as L3SRD004) at the Three Saints Project, targeting extensions of the mineralised system intersected in maiden drill hole L3SRD003.
The second hole is a vertical hole, designed to test the lateral and vertical continuity of the copper-bearing system and further evaluate the potential scale of the underlying IOCG-style (Iron Oxide Copper Gold) mineralisationwhich was identified in the maiden drill hole. L3SRD003 intersected multiple intervals of visible copper sulphides (chalcopyrite), along with associated pyrite, magnetite and molybdenite.
Visual observations from the first hole indicate increasing sulphide intensity with depth, with mineralisation remaining open, providing strong encouragement for follow-up drilling.
The current drill program is designed to:
o Confirm the continuity of the sulphide mineralisation intersected in the maiden hole
o Test across the identified geophysical anomaly interpreted to represent a larger mineralised system
o Refine the geological model and vector toward higher-grade zones
o Assess the potential for a significant IOCG system at Three Saints
Results from the drilling are expected during Q2 2026. Further drilling may be planned subject to results.
LOS LOROS - GEOPHYSICAL SURVEYS
At the Los Loros Porphyry Cu-Mo project in Chile, an IP+MT geophysical survey is underway across the identified porphyry. The IP survey will give an indication of the extentof the sulphides at depth. The IP will be combined with MT to enhance depth coverage of the survey and is planned to be completed within the next 2 weeks.
Following the completion of the IP+MT survey, a drone magnetometry survey will be conducted across the southern area of the tenement.
These two geophysical surveys will be combined and integrated with the geological mapping to improve the targeting for the May drilling campaign.
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Coraline Blaud Executive Director - Head of Exploration info@lodestarminerals.com.au +61 8 9435 320
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