LSR ASX Announcement
ASX ANNOUNCEMENT
COMPANY SNAPSHOT
LODESTAR MINERALS LIMITED ABN: 32 127 026 528
CONTACT DETAILS
Bill Clayton, Managing Director
+61 8 9423 3200
Registered and Principal OfficeLevel 2, 55 Carrington Street
Nedlands, WA 6009
PO Box 985
Nedlands, WA, 6909 [email protected]u www.lodestarminerals.com.au
CAPITAL STRUCTURE
Shares on Issue:
334,546,575 (LSR)
Options on Issue:
20,750,000 (unlisted)
36,077,402 (listed - 31 Mar 2016)
ASX: LSR
PROJECTS
Peak Hill - Doolgunna: Camel Hills - gold Neds Creek - gold Marymia - gold
Imbin - gold and base metals
29th September 2015 Electronic lodgement
COMPLETION OF RC DRILLING AT BIG SKY
West Australian gold and base metals explorer Lodestar Minerals Limited (ASX:LSR; Lodestar or the Company) advises that the program of RC drilling at the Big Sky gold prospect has been completed.
The drilling tested a gold anomaly, defined by shallow trench sampling, that included a maximum result of 5 metres at 12.6g/t gold and extends over a distance of 65 metres across the strike of the shear zone. RC drilling tested beneath the anomaly to an average depth of 22 metres, with two holes extended to 60 metres depth to test down-dip continuity.
Assay results for the drilling are expected be received by mid-October.
Bill Clayton
Managing Director
Competent Person Statement
The information in this report that relates to Exploration Results is based on information compiled by Bill Clayton, Managing Director, who is a Member of the Australasian Institute of Geoscientists and has sufficient experience of relevance to the styles of mineralisation and the types of deposits under consideration, and to the activities undertaken, to qualify as a Competent Person as defined in the 2012 Edition of the Joint Ore Reserves Committee (JORC) Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr Clayton consents to the inclusion in this report of the matters based on the information in the form and context in which it appears.
The information in this announcement that relates to previously released exploration results was disclosed under JORC 2012 in the ASX announcement dated 3rd September 2015 'Trenching Results Define New Gold Target at Big Sky'. This announcement is available to view on the Lodestar website. The company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcement. The company confirms that the form and context in which the Competent Person's findings are presented have not been materially modified from the original market announcement.
Completion of RC Drilling at Big Sky 29th September 2015
About Camel Hills
The Camel Hills project is located 170 kilometres northwest of Meekatharra and 60 kilometres south and east of Gascoyne Resource's Glenburgh gold deposits (1Moz Au). The Errabiddy Shear Zone is 5 to 20 kilometres wide and is linked at depth to the Cardilya Fault, a major tectonic boundary between the Archaean Narryer Terrane and the accreted Palaeoproterozoic Glenburgh Terrane to the north. Re-worked craton margins are a favourable location for the formation of world-class orebodies, including orogenic gold deposits (e.g. Tropicana). The Errabiddy Shear Zone was reactivated during the collision of the Yilgarn and Pilbara cratons and is intensely deformed. Recent mineral systems prospectivity mapping by the GSWA has identified the Errabiddy Shear Zone as a favourable site for large-scale gold mineralisation, this view is supported by historic surface sampling that has identified strong gold anomalies associated with outcropping gneiss in the Main Grid area. Limited drilling completed by previous explorers is not regarded as a conclusive test of the gold potential at Camel Hills.
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