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Lodestar Minerals Limited

Publié le 22 septembre 2015

New Priority Gold Target at Marymia

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Mots clés associés :   Copper | K Street |

New Priority Gold Target at Marymia

LSR ASX Announcement

ASX ANNOUNCEMENT

22ST September 2015 Electronic lodgement

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] 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

NEW PRIORITY GOLD TARGET AT MARYMIA

HIGHLIGHTS

Up to 1.5g/t gold in initial rock chip sampling.

Located on the southern tectonic margin of the Plutonic Well greenstone belt (10Moz Au production and resources) and 9 kilometres south of the former Marymia gold mine.

Recovery of alluvial gold nuggets suggests mineralisation source within

Lodestar tenements.

Shallow reconnaissance RAB drill programme planned for current field season - target area has not received previous drilling.


West Australian gold and base metal explorer Lodestar Minerals Limited (ASX:LSR, Lodestar or the Company) has received positive initial results from surface sampling completed within Marymia tenements E52/2734 and E52/2493, part of Lodestar's Neds Creek project, located 200 kilometres northeast of Meekatharra, Western Australia (Figure 1).

Gold Target

PROJECTS

Peak Hill - Doolgunna:

Camel Hills - gold Neds Creek - gold Marymia - gold

Imbin - gold and base metals

Figure 1 Location plan showing the Marymia gold target

NEW PRIORITY GOLD TARGET AT MARYMIA 22 September 2015


A recent sampling and mapping program carried out over an area of mafic and felsic volcanic rocks, near the boundary of Lodestar tenements E52/2734 and E52/2493, has found evidence of extensive hydrothermal alteration, including quartz-haematite veining, and lateritic ironstones that have returned anomalous results over a 1 kilometre zone across the greenstone margin (Figures 2 and 3). The area is deeply weathered with scattered lateritised outcrop and a predominantly depositional (transported) regolith cover.
A total of 59 samples were collected to follow up in-fill lag sampling completed in November 20141 and investigate reports of alluvial gold nuggets that have been recovered nearby. In-fill lag sampling was completed on a 125 metre by 125 metre grid. Anomalous rock chip samples were reported from three sites across the area of interest, with up to
1.5g/t (1500ppb) gold and 850ppm lead and anomalous pathfinder elements (Bi, Sb, Te) that are associated with
Archaean gold deposits (Table 1).
The area of anomalous rock chip sampling shows a corresponding low-level enrichment of tellurium in lag sampling, however the distribution of other geochemical pathfinder elements is less consistent. All sample results are listed in Schedule 1.

Figure 2 Location of lag and rock samples, showing anomalous gold results and mapped alteration zones (MGA94 Zone 50).

1 See Lodestar's ASX announcement dated 30th January 2015, "December 2014 Quarterly Activities and Cashflow Report".

NEW PRIORITY GOLD TARGET AT MARYMIA 22 September 2015


Figure 3 Location of lag and rock samples showing anomalous lead results and mapped alteration zones (MGA94 Zone 50).

Table 1 Anomalous rock chip sample results

SampleID

East

North

Ag

(ppm)

Au

(ppb)

Bi

(ppm)

Cu

(ppm)

Fe

(pct)

Pb

(ppm)

Sb

(ppm)

Te

(ppm)

LSR102059

775753

7210227

0.29

1510

1.4

1040

40.60%

70.7

0.3

0.5

LSR102064

775303

7211095

0.38

23.1

23.9

172

19.70%

650

14.5

3.6

LSR102069

775290

7210832

0.65

114

0.5

142

5.62%

12.6

0.1

0.3

NEW PRIORITY GOLD TARGET AT MARYMIA 22 September 2015


The sample reporting 1510ppb gold is poorly exposed iron-rich, gossanous material located near the tectonic southern margin of the Plutonic Well Greenstone Belt. Lodestar's tenements cover approximately 5 kilometres of this margin, which is concealed beneath sheet wash cover. It has not been targeted by previous drilling and is regarded as a priority exploration target.
Lodestar proposes to complete several traverses of reconnaissance RAB drilling to follow up these promising early results.
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 30th January 2015 "December 2014 Quarterly Activities and Cashflow Report". The 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.

NEW PRIORITY GOLD TARGET AT MARYMIA 22 September 2015

JORC Code 2012 - TABLE 1 Sampling Techniques and Data

Criteria

JORC Code explanation

Commentary

Sampling

techniques

Nature and quality of sampling (e.g. cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc.). These examples should not be taken as limiting the broad meaning of sampling.

Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used.

Aspects of the determination of mineralisation that are Material to the Public Report. In cases where 'industry standard' work has been done this would be relatively simple (e.g. 'reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a 30 g charge for fire assay'). In other cases more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types (e.g. submarine nodules) may warrant disclosure of detailed information.

Surface lag samples were collected by sweeping an area of approximately 2m square, collecting a gravel lag sample and sieving the sample to obtain a -

5.7mm to +2mm size fraction. Sample sites that obviously lie in drainage systems are moved to the margins of the drainage. Sampling is guided by regional regolith interpretation.

No field duplicate or reference standards were inserted with this sample batch.

Sample results reported in Schedule 1.

Approximately 1kg of material was dried and crushed to 2mm, a 500-700g split (rotary splitter) is pulverized and split to produce a 40g charge for aqua regia digest and ICPMS/OES analysis. Gold is reported with a lower detection limit of 0.5ppb.

.

Drilling

techniques

Drill type (e.g. core, reverse circulation, open-hole hammer, rotary air blast, auger, Bangka, sonic, etc.) and details (e.g. core diameter, triple or standard tube, depth of diamond tails, face-sampling bit or other type, whether core is oriented and if so, by what method, etc.).

Surface sampling only - not applicable.

Drill sample

recovery

Method of recording and assessing core and chip sample recoveries and results assessed.

Measures taken to maximise sample recovery and ensure representative nature of the samples.

Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due to preferential loss/gain of fine/coarse material.

Sample sites with poor lag accumulation are noted, none were noted in the current programme.

Surface sampling is optimal over residual and erosional regolith profiles, interpretation of results is guided by the nature of the regolith and sample material.

Regional surface geochemical programme - only a weak geochemical expression is expected.

Logging

Whether core and chip samples have been geologically and geotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies.

Whether logging is qualitative or quantitative in nature. Core

(or costean, channel, etc) photography.

The total length and percentage of the relevant intersections logged.

Surface sampling only - not applicable

Surface sampling only - not applicable

Surface sampling only - not applicable

NEW PRIORITY GOLD TARGET AT MARYMIA 22 September 2015

Criteria JORC Code explanation Commentary

Sub-sampling techniques and sample preparation

Verification of sampling and assaying

Location of data points

Data spacing and distribution

Orientation of data in relation to geological structure

If core, whether cut or sawn and whether quarter, half or all core taken.

If non-core, whether riffled, tube sampled, rotary split, etc and whether sampled wet or dry.

For all sample types, the nature, quality and appropriateness of the sample preparation technique.

Quality control procedures adopted for all sub- sampling stages to maximise representivity of samples.

Measures taken to ensure that the sampling is representative of the in situ material collected, including for instance results for field duplicate/second-half sampling.

Whether sample sizes are appropriate to the grain size of the material being sampled.

The verification of significant intersections by either independent or alternative company personnel.

The use of twinned holes.

Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols.

Discuss any adjustment to assay data.

Accuracy and quality of surveys used to locate drill holes (collar and down-hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation.

Specification of the grid system used.

Quality and adequacy of topographic control.

Data spacing for reporting of Exploration Results.

Whether the data spacing and distribution is sufficient to establish the degree of geological and grade continuity appropriate for the Mineral Resource and Ore Reserve estimation procedure(s) and classifications applied.

Whether sample compositing has been applied.

Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type.

If the relationship between the drilling orientation and the orientation of key mineralised structures is considered to have introduced a sampling bias, this

should be assessed and reported if material.

Surface sampling only - not applicable

Surface sampling only - not applicable

Samples of approximately 1kg were dried, crushed to 2mm, split to 500g to700g with a rotary splitter and pulverised to -75micron. A 40g sub-sample prepared for analysis.

Quality control procedures included laboratory duplicate samples. These quality control results are reported with the sample results in the final laboratory reports.

No field duplicates were submitted with this sample batch.

Grain size is unknown, however high grade samples have not been reported in this program.

No significant intersections are reported.

Surface sampling only.

Field and laboratory data were collected electronically and entered into a relational database. Data collection protocols are recorded in Lodestar's operation manual.

There has been no adjustment to assay data.

Sample locations are fixed by handheld GPS, accuracy is estimated to be +/-5 metres.

Sample coordinates were recorded in MGA94 Zone

50 grid.

The topography within prospect areas is generally flat; RL's are averaged from GPS readings of sample sites in each area.

Samples are collected on a 125metre by 125metre grid which in-fills earlier 250metre by 500metre sampling.

Surface sampling only - not applicable.

Sample compositing has not been applied.

Surface sampling only - not applicable.

Surface sampling only - not applicable.

Sample securityThe measures taken to ensure sample security.Samples were stored at Lodestar's exploration camp in sealed bags under supervision prior to dispatch by Lodestar personnnel to UltraTrace Laboratories.


NEW PRIORITY GOLD TARGET AT MARYMIA 22 September 2015

Criteria JORC Code explanation Commentary

Audits or reviews The results of any audits or reviews of sampling techniques and data.

No audits or reviews have been carried out.

Criteria

Commentary

Mineral tenement and

land tenure status

Sampling was completed on E52/2493 and E52/2734, within Lodestar's Marymia project. The tenements are owned by Audacious Resources, a wholly-owned subsidiary of Lodestar Minerals and Lodestar Minerals.

E52/2493 expires on 16/09/2015 (extension applied for 02/09/2015) and E52/2734 expires on 23/08/2017.

Exploration done by

other parties

Exploration commenced at McDonald Well in the late 1960's, WMC explored for Zambian Copper Belt style mineralisation and completed regional geological mapping and sampling, followed by minor percussion drilling. CRA Exploration completed regional mapping and auger sampling, also at McDonald Well. No significant anomalies were identified on the tenements.

There is no evidence of significant historic exploration on the Marymia tenements.

Geology

The geology of the project area comprises the southern margin of the Archaean Plutonic Well Greenstone

Belt. The geology forms two discrete units;

o Strongly deformed Archaean mafic and felsic volcanic rocks, interleaved with shale and banded iron formation, that are prospective for structurally controlled lode gold mineralisation..

o Archaean granitoids of the Marymia Inlier, to the south of the greenstone sequence.

Drill hole information

Tabulated sample data is provided in Schedule 1, attached.

Data aggregation

methods

No data aggregation methods have been applied..

Relationship between

mineralisation widths and intercept lengths

Surface sampling only - not applicable.

Diagrams

See Figures 2 and 3.

Balanced reporting

All sample results are reported in Schedule 1.

Other substantive

exploration data

None to report.

Further Work

Anomalous gold of greater than 100ppb (0.1g/t) has been identified from rock chip sampling and prospecting.

Gold anomalies, quartz-haematite veining and extensive sericite alteration occur along the deeply weathered and poorly exposed southern tectonic margin of the Plutonic Well Greenstone Belt. This association is believed to be very significant and initial RAB drilling is planned to verify the anomalies and develop a better understanding of the regolith environment.

NEW PRIORITY GOLD TARGET AT MARYMIA 22 September 2015

SCHEDULE 1 - Surface Sampling Results

Sample Sample Easting Northing Ag As Au Bi Pb Sb Sn Te W ID Type ppm ppm ppb ppm ppm ppm ppm ppm ppm

LSR102057

ROCK

775414

7210765

0.05

1.3

1.1

0.1

7.5

0.3

0.2

0.2

3.9

LSR102058

ROCK

775261

7210808

0.19

0.9

0.5

0.1

3

0.1

0.2

0.2

0.9

LSR102059

ROCK

775753

7210227

0.29

6.4

1510

1.4

70.7

0.3

0.6

0.5

1.2

LSR102060

ROCK

774368

7210711

0.02

1.2

2.1

0.2

6

0.1

0.2

0.2

0.4

LSR102061

ROCK

774641

7211313

0.01

0.9

3.7

0.1

1.4

0.2

0.2

0.2

0.2

LSR102062

ROCK

774775

7211069

0.02

2.1

3.8

0.1

8.3

0.1

1

0.2

0.2

LSR102063

ROCK

775349

7211114

0.02

0.5

0.5

0.1

6

0.1

0.2

0.2

0.1

LSR102064

ROCK

775303

7211095

0.38

1.3

23.1

23.9

650

14.5

1.5

3.6

1.7

LSR102065

ROCK

775304

7211031

0.01

0.5

0.5

0.1

0.9

0.1

0.2

0.2

0.1

LSR102066

ROCK

775322

7210908

0.02

1.3

6

0.2

7.1

0.1

0.8

0.2

0.2

LSR102067

ROCK

775279

7210861

0.01

0.5

10.8

0.1

1.4

0.1

0.2

0.2

0.1

LSR102068

ROCK

775278

7210846

0.03

1

4.7

0.4

1.7

0.1

0.2

0.2

0.3

LSR102069

ROCK

775290

7210832

0.65

3.8

114

0.5

12.6

0.1

0.6

0.3

0.1

LSR102070

ROCK

775262

7210811

0.17

1

0.5

0.1

3.8

0.1

0.2

0.2

0.1

LSR102071

ROCK

775317

7210845

0.03

1.3

23.1

0.3

3

0.2

0.3

0.2

4.9

LSR102072

ROCK

775321

7210846

0.02

0.5

0.5

0.1

0.7

0.1

0.2

0.2

0.1

LSR102073

ROCK

775288

7210802

0.06

0.6

5.5

0.1

1.7

0.1

0.3

0.2

0.2

LSR102074

ROCK

775227

7210829

0.03

0.6

0.5

0.1

3.3

0.1

0.2

0.2

0.5

LSR102075

ROCK

775322

7210798

0.11

3

2

0.2

10.1

0.1

0.7

0.2

0.7

LSR102076

ROCK

775319

7210796

0.09

1.4

4.2

0.1

7.6

0.1

0.9

0.2

2.4

LSR102077

LAG

775250

7210750

0.13

28.3

0.5

1.5

20.9

0.9

2.1

0.4

1

LSR102078

LAG

775250

7210625

0.25

45

0.5

1.3

25.9

1.5

2.3

0.4

0.8

LSR102079

LAG

775375

7210500

0.26

53.5

1.3

1.2

28.5

1.8

2.6

0.4

0.9

LSR102080

LAG

775250

7210375

0.16

30.4

0.5

0.9

32

1

2.1

0.3

0.5

LSR102081

LAG

775125

7210500

0.2

54

0.5

0.4

24.5

1.4

1.1

0.3

0.6

LSR102082

LAG

775000

7210625

0.18

60.7

0.5

0.7

28.9

1.6

1.5

0.3

0.9

LSR102083

LAG

774750

7210375

0.17

32.9

2.6

0.9

35.2

1.2

2.1

0.3

0.7

LSR102084

LAG

774875

7210750

0.07

15.5

0.5

0.5

14.9

0.5

1

0.2

0.5

LSR102085

LAG

774750

7210875

0.08

18.5

0.9

0.3

17.7

0.6

1.3

0.2

0.5


NEW PRIORITY GOLD TARGET AT MARYMIA 22 September 2015

Sample Sample Easting Northing Ag As Au Bi Pb Sb Sn Te W ID Type ppm ppm ppb ppm ppm ppm ppm ppm ppm

LSR102086

LAG

775000

7210875

0.07

18.7

0.5

0.4

13.3

0.7

1.1

0.2

0.4

LSR102087

LAG

775125

7210750

0.11

30.4

0.5

0.8

20.6

0.9

1.6

0.2

0.5

LSR102088

LAG

775125

7210875

0.14

38

0.5

1.2

25

1.1

1.6

0.2

0.5

LSR102089

LAG

775250

7210875

0.09

30.6

0.5

1.6

20.8

0.9

2

0.2

0.7

LSR102090

LAG

775375

7210875

0.15

29.3

0.5

3.4

29.9

1.1

3.4

0.4

0.7

LSR102091

LAG

775500

7210875

0.17

20

3

1.2

22.4

0.7

2.1

0.2

0.6

LSR102092

LAG

775750

7210875

0.39

19.5

0.5

0.7

24.7

0.7

2.5

0.3

0.4

LSR102093

LAG

775625

7210750

0.32

21.7

1

1.3

28.2

0.8

3.2

0.4

0.6

LSR102094

LAG

775500

7210625

0.21

27.3

0.5

1.6

23.6

1.3

2.9

0.4

0.9

LSR102095

LAG

775500

7210500

0.24

48.9

0.5

1.2

25.9

1.8

2.3

0.4

1.1

LSR102096

LAG

775500

7210750

0.38

17.6

0.5

1.4

23.2

0.7

4.1

0.4

0.8

LSR102097

LAG

775375

7210750

0.18

21.1

0.6

1.1

17.1

0.6

2.4

0.3

0.9

LSR102098

LAG

775750

7210500

0.32

38.1

0.5

1.1

25.9

1.4

2.1

0.3

0.7

LSR102099

LAG

775125

7211000

0.1

49.3

0.5

0.8

20

1.2

1.5

0.2

0.6

LSR102100

LAG

774875

7211000

0.11

36.2

0.7

0.7

23.2

1.4

1.5

0.2

0.5

LSR102101

LAG

775000

7211125

0.11

50.5

0.7

0.7

21.8

1.2

1.4

0.2

0.5

LSR102102

LAG

774750

7211375

0.1

61.3

0.6

0.6

26.3

1.3

1

0.2

0.6

LSR102103

LAG

775125

7211250

0.13

24.8

1.2

0.7

22.1

1

1.8

0.3

0.5

LSR102104

LAG

775250

7211375

0.27

25.7

0.5

0.8

24.4

1.1

2

0.2

0.4

LSR102105

LAG

775375

7211250

0.2

23.6

0.5

0.8

23.9

1.1

2

0.3

0.4

LSR102106

LAG

775750

7211375

0.39

27.3

0.5

0.9

26.7

1.3

2

0.3

0.6

LSR102107

LAG

775500

7211125

0.23

23.8

0.5

0.8

24.9

1.1

1.9

0.3

0.5

LSR102108

LAG

775625

7211000

0.27

29.2

0.7

1.1

28.7

1.2

2.2

0.3

0.5

LSR102109

LAG

775500

7211000

0.2

28.8

0.5

0.9

24.4

1.2

2.2

0.3

0.5

LSR102110

LAG

775375

7211000

0.15

26.9

0.5

1.1

22.4

1

2

0.3

0.6

LSR102111

LAG

775250

7211125

0.13

24.7

0.5

0.8

20.2

1

1.9

0.3

0.5

LSR102112

LAG

775250

7211000

0.08

65

0.6

0.9

17.9

0.8

1.4

0.2

0.5

LSR102113

LAG

775307

7210835

0.12

34.8

0.6

1.7

22.1

1.1

2.3

0.3

0.6

LSR102114

ROCK

775246

7210781

0.04

1.1

27.7

0.1

9.6

0.4

0.3

0.2

2.7


NEW PRIORITY GOLD TARGET AT MARYMIA 22 September 2015

Sample Sample Easting Northing Ag As Au Bi Pb Sb Sn Te W ID Type ppm ppm ppb ppm ppm ppm ppm ppm ppm

LSR102115

ROCK

775279

7210771

0.07

1.2

0.7

0.1

9.4

0.4

0.4

0.2

6.1

LSR102116

ROCK

775261

7210783

0.06

1.8

5

0.1

8.8

0.2

0.4

0.2

0.7

Lire la suite de l'article sur www.noodls.com

Lodestar Minerals Limited

CODE : LSR.AX
ISIN : AU000000LSR6
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Lodestar Minerals est une société d’exploration minière basée en Australie.

Lodestar Minerals détient divers projets d'exploration en Australie.

Son principal projet en exploration est PENFOLDS NICKEL en Australie.

Lodestar Minerals est cotée aux Etats-Unis D'Amerique et en Australie. Sa capitalisation boursière aujourd'hui est 906 640 AU$ (591 879 US$, 553 170 €).

La valeur de son action a atteint son plus haut niveau récent le 09 septembre 2011 à 0,17 AU$, et son plus bas niveau récent le 26 avril 2024 à 0,00 AU$.

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Communiqués de Presse de Lodestar Minerals Limited
14/07/2016Amended Appendix 3Y Ross Taylor - 6 July 2016
14/07/2016June 2016 Quarterly Activities Report
10/05/2016Contessa IP Survey Commences
31/03/2016Big Sky Initial RC Drilling Results
29/03/2016Options Conversions
29/03/2016RC Drilling Underway at Big Sky
02/02/2016Auger Sampling Extends Big Sky Gold Target
02/02/2016Marymia Drilling Results
22/12/2015Appendix 3B Options Conversion - 21 Dec 2015
22/12/2015Notice Under Section 708A - 22 Dec 2015
25/11/2015Lodestar AGM Presentation 2015
17/11/2015Partial Underwriting of March 2016 Options
05/11/2015Sept 2015 Quarterly Activities & Cash Flow Report
22/10/2015Dispatch of 2015 Annual Report and Notice of AGM
07/10/2015Marymia Exploration Update
30/09/2015Appendix 3B Options Conversion - 30 Sep 15
29/09/2015Completion of RC Drilling at Big Sky
22/09/2015Drilling to Commence at Big Sky Gold Target
22/09/2015New Priority Gold Target at Marymia
16/09/20152015 Annual Financial Report
16/09/2015Notice under Section 708A(5)(e) of the Corporations Act
16/09/2015Placement to Fund RC Drilling at Big Sky
16/09/2015Appendix 3B Placement - 11 September 2015
03/09/2015Trenching Results Define New Gold Target at Big Sky
01/09/2015First Pass Drill Results from Big Sky Gold Prospect
13/08/2015First-Pass RAB Drilling Completed at Big Sky
03/08/2015Drilling Commences at Big Sky Gold Target - Camel Hills Proj...
03/08/2015June 2015 Quarterly Activities and Cash Flow Report
16/06/2015Appendix 3Y Ross Taylor - 2 June 2015
16/06/2015Australian Mines Increases Marymia Ground Holding
26/02/2015Interim Financial Report to 31 December 2014
30/01/2015December 2014 Quarterly Activities and Cash Flow Report
29/01/2015Appendix 3B Options Conversion - 28 Jan-15
25/11/2014Appendix 3Y David McArthur - 25 November 2014
25/11/2014Results of Annual General Meeting
20/10/2014Entitlements Issue
28/04/2008Detailed EM survey to continue over Abattoir prospect
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