Lodestar Minerals Ltd (LSR.AX) Drilling Results Strengthen IOCG Model at Three Saints, Chile

Perth, Aug 28, 2026 AEST (ABN Newswire) - Assay results validate key alteration-mineralisation relationship and provide new vectors for exploration targeting.

Lodestar Minerals Limited (ASX:LSR) (3EJ:FRA) (LSMLF:OTCMKTS) announced the receipt of final assay results for the second diamond drill hole, L3SDD004, completed to a final depth of 611.10m at the Three Saints IOCG Project in the Coastal Cordillera of the Atacama region in Chile.

HIGHLIGHTS

Three Saints Project

- Assays received for L3SDD004 confirm the IOCG-style deposit model at Three Saints Project.

- Positive correlation between iron content and the presence of sulphides aligns with IOCG hydrothermal mineral assemblage.

- Copper-sulphides are linked to magnetite bearing mineralisation, associated with the main actinolite-biotite and sodic-calcic (skarn) hydrothermal alteration within the tonalite intrusive.

- Anomalous copper and cobalt values in previously identified skarn intercept, provides a significant vector for ongoing exploration.

Los Loros Project

- Drilling at Los Loros has been postponed due to current El Nino weather conditions. Drilling will start once road access is restored.

- Los Loros remains a highly prospective opportunity with five new copper & gold targets identified at the Aguila prospect in May 2026, following the IP + MT and Magnetometry surveys confirming the potential for a fully preserved, close to surface, porphyry system with targets from 150m depth up to 800m.

- Recent acquisition of Pacifico Cu-Mo-Au Porphyry Project provides LSR with a strategic lowcost entry into a potentially large-scale coppersystem, further strengthening the Company's growing Chilean copper portfolio alongside its emerging Los Loros and Three Saints projects.

The geochemical response observed in the hole coincides with zones of sulphide mineralisation and hydrothermal alteration identified by geological logging. These mineralisation and alteration relationships are consistent with the regional geological setting and with alteration styles recognised in IOCG systems elsewhere in the Chilean Coastal Cordillera IOCG belt.

Importantly, L3SDD004 provides additional geological and geochemical information beneath the project's extensive cover; increasing confidence in the interpretation of the concealed hydrothermal system and providing new vectors for the next phase of exploration.

Management Commentary

Commenting on the confirmation of mineralisation, Lodestar CEO & Executive Director Coraline Blaud said: "The Three Saints drilling program has delivered an encouraging geological outcome, identifying a previously untested, concealed IOCG-style hydrothermal system. The first two drill holes confirmed copper-gold mineralisation and a strong alteration assemblage consistent with an IOCG system.

Importantly, the second hole intersected skarn alteration accompanied by cobalt mineralisation, providing an important geological vector towards potentially more favourable host rocks. This is an exciting development, and we now have a clearer understanding of the system and the geological controls that will help guide the next phase of exploration at Three Saints. "

L3SDD004: REVIEW OF RESULTS

Diamond drill hole L3SDD004 (-75 degree inclination) reached final depth of 611.10m. Geological logging has been completed and assay results have now been received, allowing the geological observations made during core logging to be compared directly with the geochemical response.

The assays received from hole L3SDD004 confirm the sulphide mineralisation identified during geological logging, with several copper-bearing intervals identified throughout the hole. The mineralised segments are characterised by pyrite-chalcopyrite mineralisation spatially associated with magnetite veins and breccias and biotite-actinolite alteration, locally accompanied by albite and scapolite (Figure 3*). Additionally, the hydrothermal breccia intercepted close to the EOH, between 568m and 570.26m, previously recognised as a skarn alteration assemblage, yielded anomalous high values of Cu and Co (max values of 1314 ppm Cu and 404 ppm Co). This mineralisation is related to a fine sulphide dissemination within a strong sodic-calcic alteration of garnet and epidote (retrograde) within the tonalite intrusive (Figure 3*). This mineral-package requires the presence of carbonatic fluids, which cannot be provided by the tonalite (intrusive host rock), and this could indicate proximity to a volcano-sedimentary basin. Skarn alteration, including abundant garnet-pyroxeneactinolite as the main alteration facies, have been extensively recognised in the Candelaria deposit and Punta del Cobre district as directly related to the copper mineralisation. The regional comparison is provided for geological context only and does not imply that Three Saints has comparable mineralisation, scale, grade, resources or economic potential.

Mineralised intersections in hole L3SDD004 comprise 4.30 m @ 0.12% CuEq from 333.0 m, including 1.42 m @ 0.25% CuEq from 333.00; 14.82m @ 0.10% CuEq from 404.40 m, including 1.0 m @ 0.43% CuEq from 407.0 m (Table 2*). The repeated association between elevated copper values with magnetite and actinolite-biotite alteration provides further support for the interpretation of an IOCG-style hydrothermal system at Three Saints.

GEOLOGICAL CONTEXT

Hole L3SDD004 was collared approximately 1km north-east of L3SRD003, (see Figure 1 and 2, Table 1*), aiming to evaluate the "demagnetisation" geophysical anomaly (low magnetic - blue shade on Figure 1) and crosscutting the regional NW-SE structural regional trend. Both holes proved that the annular-shaped negative magnetic anomaly was related to hydrothermal alteration associated with fault-veins systems fully developed within a tonalite igneous rock. Along with the hydrothermal alteration, IOCG-style mineralisation was defined with sulphides (chalcopyrite, pyrite, pyrrhotite) intimately related to hydrothermal magnetite; a key feature to classify IOCG mineralisation in addition to the alteration assemblage, which included actinolite-biotite, albite-potassic feldspar, epidotechlorite and garnet-pyroxene as sodic-calcic expression.

From core logging, chalcopyrite and pyrite were the most recognised sulphide phases, additionally molybdenite and pyrrhotite were relevant especially in hole L3SRD003. Visual contents of iron, copper and molybdenum were confirmed by the assays. Furthermore, assays also yielded gold anomalies, which were associated mostly with quartz veins, and high cobalt values related to iron hydrothermal injection (magnetite), especially relevant in hole L3SDD004 (404 ppm Co, 569-570.26m).

The greater intensity of the hydrothermal alteration in the host rock to the east, with higher Fe-Co and lower Cu content/occurrences is consistent with the proximity of a feeder (fault conduit) of the hydrothermal system. In IOCG deposits, Fe-bearing mineral phases are more related to the early/high temperature mineral stage, whereas Cu usually precipitates in the intermediate-late stage, at lower temperatures compared with the Fe-rich assemblages.

The combined knowledge of structural and mineralogical evidence from core logging, chemical assays, and geophysical response allows us to significantly update the understanding of the Three Saints IOCG project. To maximise the opportunities to find a mineralised orebody, the targeting now consists of extending the mineralised structures identified in the two holes, not just at depth, but laterally, with the aim to crosscut these feeder structures within the most mineralisation-receptive volcanosedimentary rock units that exist in the area. The alteration mineral assemblage and mineralisation identified in hole L3SRD003 and L3SDD004, provides encouraging evidence to pursue further exploration at Three Saints.

FUTURE WORK ON THE THREE SAINTS PROJECT

With assay results now integrated with the geological logging of L3SRD003 and L3SDD004, the next phase of work will focus on reprocessing, reinterpreting and calibrating the existing geophysical datasets using the newly defined alteration and mineralisation signatures as geological constraints.

The recurring association between copper-bearing sulphides, magnetite, and the actinolite-biotite and skarn hydrothermal alterations provide an important vector for refining the interpretation of the structural architecture of the Three Saints system. The revised geophysical interpretation will focus on the extension of the mineralised structures previously identified in drill core, aiming for its interaction with the volcano-sedimentary country rocks.

This integrated geological, geochemical and geophysical interpretation is planned as part of the exploration program and will be used to prioritise the new exploration targets and define potential peripheral vectors for the future drilling at Three Saints.

LOS LOROS DRILLING UPDATE

The Los Loros drilling program has been delayed following the severe El Nino weather events that recently affected Chile's northern regions. These floods damaged the main access roads, which currently prevents the safe passage of heavy machinery. The Government is currently undertaking repairs to public road infrastructure in the affected areas. The drilling will commence once access has been reinstated.

*To view tables and figures, please visit:
https://abnnewswire.net/lnk/78U51YA3

About Lodestar Minerals Ltd

Lodestar Minerals Limited (ASX:LSM) (OTCMKTS:LSMLF) is an active critical metals, gold and base metals explorer. Lodestar’s projects include the Los Loros Porphyry Cu-Mo-Au and the Three Saints IOCG projects in Chile, the 100% owned Ned’s Creek Gold and Earaheedy projects in Western Australia, and the Virgin Mountain HREE project in USA. 

Lodestar also has exposure to lithium via its 27.5M performance rights in ORE Resources (ASX:OR3) who own the Kangaroo Hills and Miriam Projects in Western Australia. 
 

   

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