Earaheedy Project (LSR 100%)

Following the recent acquisitions, the project totals ~1420 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 underexplored and is one of the main targets for Lodestar. The Earaheedy Basin is a large syncline (U-shaped fold), which means that Lodestar has a similar geological setting on the north limb as Rumble Resources as on the southern margin. This includes the presence of large structures (faults) cross cutting and repeat folding of the geological sequence.

Earaheedy Project

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) presents significant potential for Cu-Au mineralisation. The Yelma Formation is of similar age than the Bryah Basin which hosts the DeGrussa Copper Deposit.

This area has been the focus of our first pass 2023 Aircore, RC and Diamond drilling which intersected dolerite sills within the sedimentary sequence at several locations. 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 drilling Lodestar has been exploring the entire tenement tenure using geological and geophysical mapping and soil sampling. A lot of the area is under sand cover and has not been effectively explored in the past. Soil sampling is used to pin point anomalies at surface in areas where Lodestar geological team has identified geophysical anomalies. Around 5,000 soil samples were completed by Lodestar in 2023, which is allowing the Company geologist to define new targets to explore for 2024.

Soil sampling areas completed by Lodestar in 2023