Lodestar Minerals (LSR)

Shares / Stock Code

LSR

Stock Exchange / Sharemarket

Australian Securities Exchange

Lodestar Minerals Limited (LSR) is exploring for nickel at the highly prospective Penfolds tenements, which cover three known nickel belts, and are only 12 kilometers from Kambalda, a world class nickel province in Western Australia.
Nickel has already been discovered on the tenements, and the ground is largely unexplored using modern drilling and geophysical techniques. Lodestar Minerals listed on the Australian stockmarket (ASX) on 21 December, 2007.

Penfold Nickel Project

The Penfold Project covers an estimated 48 strike kilometres of under explored mafic-ultramafic stratigraphy within the Coolgardie and Kambalda domains. Both the Coolgardie and Kambalda domains have demonstrable endowment of komatiite - hosted nickel sulphides, with the Kambalda domain having produced more than 1 million tonnes of Ni metal.

The ultramafic sequences within the Penfold Nickel Project have close similarities in komatiite composition, stratigraphic relationships and age to the adjacent nickeliferous camps at Kambalda, Widgiemooltha and the Nepean deposit south of Coolgardie. Given the corresponding geological setting of the Penfold Project ultramafic sequences to those of proximal nickel camps, it is believed there is a similar probability of the project having nickel sulphide occurrences.

The Abattoir Prospect on Location 53 is the obvious target for immediate exploration, with historic diamond drilling intercepts of 15.2m @ 0.64% Ni and 6.1m @ 1.88% Ni (including 3m @ 3.1% Ni + Cu) to be confirmed by the first phase of drilling.

The effectiveness of previous nickel exploration also requires critical assessment. In areas of outcrop, surface exploration techniques (such as geological mapping and prospecting, costeaning and geochemical sampling) have been effective in identifying outcropping mineralisation. The main phase of nickel exploration in the 1960’s and 1970’s identified areas where these techniques were likely to be successful. The ultramafic sequences are known to extend under cover along strike from outcrops (from the aeromagnetic data), where surface sampling techniques employed by earlier explorers were less effective due to the lack of geochemical indicators in transported surface material. Where drilling was employed, the drilling methods were often ineffective in providing meaningful samples in areas of high water table, soft clays or broken, indurated zones within the regolith.

Lodestar Minerals (LSR) Products and Services

  • Nickel Exploration

Lodestar Minerals (LSR) Locations and Subsidiaries

Lodestar Minerals Head Office
Level 2, 45 Stirling Highway, NEDLANDS,
WA, AUSTRALIA, 6009
Phone: 61 8 9389 8799
Fax: 61 8 9389 8327

Lodestar Minerals (LSR) Share Price

Submitted by ASX Listed Company on 12 May, 2010 - 18:40

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