Explorer Lodestar stock soars
Western Australian exploration company Lodestar Minerals’ share price doubled on Thursday as the company restarted drilling at the Ned’s Creek project.
Initial drilling will comprise two holes for 500 m testing for gold mineralisation in a similar geological setting to the multimillion-ounce Wallaby deposit.
Ned’s Creek has had limited exploration activity over recent years; however, previous drilling has intersected high-grade gold intervals, commented MD Ed Turner. These high-grade intervals included 11 m at 29 g/t within the “Contessa corridor”.
He said that the two magnetic bullseye targets had not yet been effectively drill tested although they lie within the corridor. “We look forward to seeing the results from this programme,” said Turner.
Lodestar’s share price surged to 0.2c.
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