What's Happening?
Lodestar Minerals has announced significant progress in its exploration efforts at the Ned's Creek Gold Project in Western Australia. The company completed a 106-hole reverse circulation drilling program, totaling 12,344 meters across the Gidgee Flat,
Contessa, and Central Park prospects. Initial assays from the first 13 holes have confirmed continuity within the targeted shear zone and identified new mineralisation zones beyond the December 2025 Exploration Target limits. Notable results include 6 meters at 7.16 grams per tonne gold from 140 meters, and 12 meters at 1.44 grams per tonne from 88 meters. The company plans to continue its exploration efforts, with a resource geologist commissioned to complete a maiden Mineral Resource Estimate in 2026.
Why It's Important?
The extension of gold mineralisation at the Ned's Creek Project is a significant development for Lodestar Minerals, potentially increasing the project's value and attractiveness to investors. The results suggest that the company is on track to meet its exploration targets, which could lead to increased gold production and revenue. This development is also important for the broader mining industry, as it highlights the potential for further gold discoveries in the region, which could attract additional investment and exploration activity.
What's Next?
Lodestar Minerals will continue its exploration efforts at the Ned's Creek Project, with results from the remaining 93 drill holes expected in the coming weeks. The company is also working on a maiden Mineral Resource Estimate, which will provide a clearer picture of the project's potential. As the exploration progresses, Lodestar may seek additional funding or partnerships to support further development and potential production activities.
