Lodestar Metals reported 16.8 metres grading 6.07 g/t gold and 41.1 g/t silver from 132.6 metres in hole LSRC04 at its Gold Run project in Nevada, including a three-metre section at 31.90 g/t gold and 181.6 g/t silver. The interval came from an infill hole at the Robbers Knob target.
The result is part of the first batch of assays from the company's maiden drill programme. Six of 18 reverse-circulation holes have been reported, covering 1,143 metres of a 2,680-metre programme. Reverse circulation drilling recovers rock chips rather than solid core, which limits geological detail but is cheaper and faster than diamond drilling.
Alongside the higher-grade intercept, the company reported broader, lower-grade oxide material. Hole LSRC03 returned 70.1 metres at 0.54 g/t gold and 6.7 g/t silver from 89.9 metres, and LSRC02 returned 36.6 metres at 0.27 g/t gold from 50.3 metres. Two further holes, LSRC01 and LSRC05, cut intervals of 30.5 and 36.6 metres at 0.33 and 0.24 g/t gold respectively. LSRC06 returned only short, low-grade sections.
Lodestar says the oxide intercepts sit mainly in weathered rock between roughly 40 and 150 metres depth and are comparable to grades mined in open-pit, heap-leach operations elsewhere in northern Nevada. That comparison is the company's own framing; Gold Run has no mineral resource estimate, and grades of this order depend on scale, metallurgy and strip ratio before they mean anything economically.
A third style of mineralisation was also intersected. From 161.5 metres, LSRC02 cut 15.2 metres at 0.37 g/t gold, 16 g/t silver, 0.40% zinc and 0.27% lead in fresh rock — a polymetallic zone the company says was not recognised in historical drilling at Robbers Knob.
Reported intervals are hole lengths. True widths are estimated at 85% to 95% of those lengths.
Assays are outstanding for 12 holes totalling 1,537 metres across three other targets: Gomes, Black Diamond and Crown North, the last of which tested the projected northern extension of the Adelaide Crown deposit held by Nevada Gold Mines.
Induced polarisation and drone magnetic surveys have defined chargeability anomalies west and north of the current drilling, which the company describes as follow-up targets. No timing or budget for further drilling was given.
Samples were prepared and analysed by Bureau Veritas in Nevada and Vancouver, with blanks, standards and field duplicates reported as within tolerance. The technical information was approved by Leo Horn, a consulting director to the company acting as qualified person. The release contains no financial information — no cash position, drilling cost or share count.
Source: Newsfile
This article is journalism, not investment advice. It is not an offer or solicitation to buy or sell any security. Micro-cap and penny stocks carry a high risk of loss, including illiquidity and dilution. Do your own research.