Lodestar Minerals Limited (ASX:LSR) has confirmed and upgraded two significant gold in soil anomalies that represent priority drill targets following in-fill multi-element soil geochemistry at the Coolgardie West in Western Australia.
The Coolgardie West project is located 10km west of the Coolgardie gold mining centre.
Follow up soil sampling at Coolgardie West was designed to in-fill gold anomalies outlined by the first-pass ultrafine UFF sampling programme and extend the sampling over the majority of tenement E15/1813.
Lodestar is currently experiencing a four-week turnaround for geochemical samples, enabling relatively rapid discrimination of exploration targets.
Two priority gold anomalies have now been confirmed by in-fill sampling on a 200m by 200m grid.
The northern target is located 1.5km along strike from the greenstone pinch-out, adjacent to a prominent northeast trending shear zone that defines the western contact of the Calooli Granite. The 20ppb Au contour extends for 1200m, with a maximum 37.5 ppb Au.
The western target is located 2.4km northwest of and parallel to the greenstone. The 15ppb Au contour extends for 2,000m in a north easterly direction, with a maximum 30.9ppb Au.
Both targets are associated with northeast trending shear zones and occur in areas of soil cover with no previous drilling.
Assay results from follow up sampling of the extensive greenstone-hosted pegmatite lithium target are pending. Once results are received, a first-pass drilling program will be planned to test both lithium and gold targets.
Given the significant potential that exists at Coolgardie West, the Company is working to finalise a heritage and access agreement over the tenement prior to gaining statutory approvals.