Darwin - Chile

Darwin Project (LSR - 100 % Aquisition of an option subject to final DD)

The Darwin Project in Chile lies within one of the World’s largest IOCG (iron oxide, copper, gold)
Belts which includes the 1.2 Bt @ 0.60% Cu, 0.13 g/t Au, 2.0 g/t Ag Candelaria Deposit. The region is host to numerous world class copper deposits and gold rich IOCG deposits such as
Carola (10Mt @ 1.8% Cu, 0.5g/t Au)2 and Atacama Kozan (50Mt @ 1.6% Cu, 0.35g/t Au).

Lodestar has secured an option Agreement over highly prospective 3,100-hectare project located 75 km southwest of the city of Copiapó, in Region III of northern Chile. The Project is vastly underexplored with multiple historical workings across the project area which have never been sampled or drilled. The limited amount of geophysics show the presence of multiple large magnetic anomalies with the potential to define IOCG style mineralisation at depth.

Figure 1: Darwin Project location in relation to other IOCG and Porphyry deposits

The association between high-grade Cu, Au and Fe at surface in the Darwin Project is very
encouraging and a good indication of the project’s potential.

Very high-grade historical samples

Several rock chip sampling programmes have been completed by Coastal Metals. Lodestar has also
confirmed the high Au and Cu grades with a site visit and a limited rock chip sampling programme
and assaying (Figures 2) with rock chip assays up to 247 g/t Au, 8% Cu and 66% Fe

Very high-grade Cu-Au mineralisation from rock chip samples including:
Gold : 247 g/t Au, 229 g/t Au, 195 g/t Au, 185 g/t Au, and 166 g/t Au
Copper: 8.09% Cu, 7.78% Cu, 4.75% Cu, 3.43% Cu, 3.34% Cu and 3.14% Cu
Extensive iron ore mineralisation grading above 66% Fe in outcrops

Figure 2 : Rock chip assays on top of magnetic surveys (tmirtp hvd)

Aeromagnetic surveys

Two drone aeromagnetic surveys have been flown over the Darwin Project. The surveys were
carried out between the months of March and May 2023 and consisted in recording earth magnetic
field anomalies using unmanned drones, initially flying E-W lines spaced at 100m and control lines
N-S direction every 1000 m, followed by one detailed area with E-W lines spaced at 25m and control
lines N-S direction every 240m.
The surveys delineated numerous magnetic anomalies, some of which are coincidental with
significant Au, Cu and Fe rock chip assays (Figure 2). Most of the magnetic anomalies however are
yet to be investigated on the ground for potential mineralisation.

Near term exploration

The Project is drill ready with the opportunity to add immediate value in the near-term through more
systematic exploration program with drilling planned early calendar 2025