DECEMBER 2014
QUARTERLY ACTIVITIES REPORT HIGHLIGHTS
NED'S CREEK PROJECT
· Maiden five hole RC drilling programme at Contessa reported significant supergene and primary gold intercepts over a strike distance of 400 metres, including
o LNRC010
§ 2m at 1.86g/t Au from 40m and
§ 1m at 1.92g/t Au from 46m
o LNRC011
§ 5m at 3.43g/t Au from 15m
§ 3m at 3.88g/t Au from 54m and
§ 3m at 1.56g/t Au from 71m
o LNRC012
§ 5m at 9.33g/t Au from 64m (including 1m at 37.5g/t Au from 67m) and
§ 1m at 3.58g/t Au from 76m
o LNRC013
§ 1m at 1.13g/t Au from 69m
§ 1m at 1.09g/t Au from 84m
§ 1m at 1.76g/t Au from 153m
§ 1m at 2.4g/t from 169m and
§ 1m at 6.13g/t Au from 195m
o LNRC014
§ 1m at 2.18g/t Au from 180m and
* 1m at 1.35g/t Au from 186m
(see Lodestar's ASX announcement dated 29th December 2014)
· Gold mineralisation is associated with extensive alteration characteristic of Archaean gold mineralised terranes. Mineralisation at Contessa occurs within an intermediate host unit greater than 400 metres in length and is open in all directions.
· The Company believes there is a high potential for the discovery of a structurally hosted lode gold system within the Contessa environment. A review of all aircore and RC drilling has commenced, with the intent of mapping the geology, alteration style and alteration intensity in the Contessa region prior to the next phase of drill targeting (to locate the primary zone of mineralisation).
December 2014 Quarterly Activities Report 30 January 2015
MARYMIA PROJECT
· In‐fill geochemical sampling completed over gold targets related to major structures adjacent to the Marymia Inlier has defined robust anomalies requiring first‐pass drill testing.
PEAK HILL‐DOOLGUNNA
Ned's Creek (E52/2440, E52/2444, E52/2456, E52/2468 & E52/2733)
Lodestar has 100% interest in the Ned's Creek tenements that cover 830 square kilometres of the Proterozoic Yerrida Basin and surrounding Archaean greenstone and granite basement. They are located 170 kilometres north east of Meekatharra, 7 kilometres east of the Thaduna‐Green Dragon copper mines currently being evaluated by Ventnor Resources and Sandfire Resources and 5 kilometres east of Sipa Resource's Enigma copper discovery. The Yerrida Basin contains thick volcano‐sedimentary sequences that are bounded by major structures, the Jenkin and McDonald Well Faults and there is good potential for large‐scale base metal mineralisation adjacent to these structures. In 2013 Lodestar discovered significant gold mineralisation at the Contessa Prospect (Figure 1). Contessa lies within a 5 kilometre long gold anomaly overlying Archaean greenstone, within a major structural corridor, on the southern margin of the Marymia Inlier.
Lodestar Minerals (ASX:LSR, "Lodestar" or "the Company") has completed a multi‐phase drill programme in the Contessa area, expanding the gold exploration potential on a number of fronts;
· A five hole maiden RC drilling programme (1010m) at the Contessa prospect designed to test beneath significant supergene mineralisation intersected in aircore drilling in 2013. The RC drilling has identified gold mineralisation associated with extensive pyrite alteration within an intermediate host unit.
· 50 aircore drill holes were completed (3,724m), targeting gold geochemical anomalies along the Contessa Trend, up to 1.6 kilometres southwest and northeast of the prospect area and over a magnetic anomaly at Gidgee Flat.
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