Lodestar Minerals Limited (ASX: LSR) announced on 14 May 2026 that ongoing reverse circulation (RC) drilling at its Ned’s Creek Gold Project in Western Australia continues to confirm the company’s mineralisation model. The positive results are rapidly advancing the project towards its maiden Mineral Resource Estimate (MRE). Lodestar Minerals is an active critical metals, gold, and base metals explorer with a portfolio of projects across Australia, Chile, and the USA. The current drilling campaign, which is over half complete, aims to expand and increase confidence in known gold mineralisation.
Of the planned 10,000-metre RC drilling program, 48 holes totalling 6,391 metres have been completed, with assay results for over 2,600 samples currently pending. The initial phase of drilling at the Gidgee Flat Prospect is now finished, with the rig moving to exploratory holes before proceeding to the Contessa and Central Park Prospects. Lodestar reported that drill holes intersected wide zones of mineralisation in anticipated locations, confirming the targeted shear zone and mineralised sequence. Multiple positive geological gold mineralisation indicators, including hematite alteration, syenite intrusions, sulphides, and quartz veins, were observed.
The first 175 assay samples from two holes have returned encouraging intercepts. Notably, drill hole LNRC110 yielded 9 metres at 1.27 grams per tonne gold from 32 metres, including 1 metre at 6.55 grams per tonne gold from 36 metres in the oxide zone. Further down, the same hole intersected 15 metres at 1.46 grams per tonne gold from 151 metres, including 2 metres at 4.34 grams per tonne gold from 160 metres in fresh rock. Lodestar CEO Coraline Blaud expressed satisfaction with the drilling progress, highlighting it as a significant step towards establishing a maiden MRE for Ned’s Creek later in 2026. The Ned’s Creek Project is situated in a proven gold region of Western Australia, close to the Plutonic Gold Mine and Plant.
