Earaheedy Project (LSR 100%)
Following the recent acquisition, the project totals ~1400 sq km along the under-explored Earaheedy basin NE margin. The Earaheedy Basin is an emerging metallogenic terrane with Tier 1 base metal potential.
It includes Zn-Pb-Ag targets with a similar geological setting as Rumble Resources Chinook Discovery which
is located on the unconformity between the Frere Formation and the underlying Yelma Formation. Rumble announced on 19 April 2023 a maiden Mineral Resource Estimate (MRE) of 94Mt @ 3.1% Zn+Pb and 4.1 g/t Ag (ASX:RTR). Lodestar now has approximately 100km strike length of the targeted Yelma-Frere unconformity within its tenements. This unconformity is fully underexplored and is one of the main targets of Lodestar. The Earaheedy Basin is a large syncline (U-shaped fold), which means that Lodestar has a similar geological setting on the north than Rumble resources to the south, including the presence of large structures (faults) cross cutting and repeating the geological sequence.
Map of Lodestar tenements in relation to Rumble Resources with a simplified geology background showing the Frere Formation.
Map of Lodestar tenements in relation to Rumble Resources with a magnetic geophysical background showing the Frere Formation as a magnetic high (red).
To the North of the Frere Formation, the Yelma Formation (younger than the Frere Fm) present a potential for Cu-Au mineralisation. The Yelma Formation is of similar age than the Bryah Basin which hosts the DeGrussa Copper Deposit.
This part has been the focus of our first pass Aircore drilling which intersected dolerite sills within the sedimentary sequence at several locations within the seven target area drilled in June/July 2023. Mafic volcanic rocks can be an important ingredient in VMS style copper-gold mineralised systems as a source of copper, similar to the DeGrussa Copper Deposit.
Limited historic drilling within Lodestar’s tenements has intercepted high grade copper including 2m @ 4.65% Cu and 3m @ 1.97% Cu at the Main Gossan Prospect.
Aircore drill hole location on aeromagnetics background
Additional to the Aircore drilling Lodestar has been exploring the entire tenement tenure using geological mapping and soil sampling. A lot of the area is under sand cover and has not been effectively explored in the past. The soil sampling is used to trying to pin point anomalies at surface in areas where Lodestar geological team has been able to identified geophysical anomalies. This is a first pass exploration, on a large land tenure but Lodestar team is determined to advance the project as fast as possible.