Source: Lodestar Resources
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Lodestar Minerals (LSR) has confirmed lithium mineralisation at the Nepean nickel project near Kalgoorlie
  • The company’s joint venture partner Auroch Minerals announced positive results from re-assaying pegmatites intersected from previous reverse circulation drilling
  • The drilling took place on the northern tenements of the Nepean nickel project
  • Auroch owns an 80 per cent interest in the project and is also its operator
  • Lodestar Minerals opened the day trading at 2 cents

Explorer Lodestar Minerals (LSR) has confirmed lithium mineralisation at the Nepean nickel project near Kalgoorlie in Western Australia of which it is a minor shareholder.

The company’s joint venture partner Auroch Minerals (AOU) announced positive results from re-assaying pegmatites intersected from previous reverse circulation drilling.

Drilling took place on Nepean’s northern tenements.

Auroch owns an 80 per cent interest in the project and is also its operator.

One drill hole reported one metre at 0.88 per cent lithium oxide from 78 metres.

Drill holes located proximal to previously reported rock chip samples containing elevated
lithium were re-assayed for lithium-caesium-tantalum suite elements.

There has been no systematic targeting of pegmatite LCT mineralisation at Nepean and the latest confirmation of lithium potential will provide a focus for further work, with Auroch planning follow up exploration programs targeting the LCT pegmatite potential in parallel with ongoing nickel exploration.

“We are encouraged by these assay results from the pegmatite intersections in the four drill-holes in the northern area of the Nepean tenure,” Auroch Managing Director Aidan Platel said.

“The drill results follow on from impressive first-pass results from the field rock-chip samples taken last year and not only do they confirm the presence of LCT-enriched pegmatites throughout this northern area, but also show the potential for these pegmatites to host lithium mineralisation.

“This growing potential for significant lithium mineralisation complements the company’s primary focus on its high-grade nickel sulphide projects in Western Australia, as the company looks to leverage the ever-increasing demand for critical minerals for the renewable energy sector.”

Lodestar Minerals opened the day trading at 2 cents.

LSR by the numbers
More From The Market Herald
The Market Herald Video

" Caprice Resources (ASX:CRS) intersects shallow gold at Island Gold Project

Caprice Resources (ASX:CRS) intersects shallow gold mineralisation at its first reverse circulation drilling program at the…

" Orion Minerals (ASX:ORN) raises $1.35m in SPP

Orion Minerals (ASX:ORN) has raised $1.35 million in its share purchase plan (SPP) to advance its…

" Future Metals (ASX:FME) to raise $5.5m for Panton

Future Metals (ASX:FME) has received firm commitments for a heavily oversubscribed $5 million placement.

" Firebird Metals (ASX:FRB) raises $3.5m to accelerate Oakover development

Firebird Metals (ASX:FRB) has received firm commitments to raise $3.5 million via a placement from sophisticated…