more than just coal

11 oct 2007
Worth remembering

Limestone Creek Project: (100% Lodestone): This project is located 130 kilometres
north of the Chillagoe township in North Queensland. Exploration is aimed at locating
porphyry copper-gold and massive sulphide copper, lead and zinc style mineralisation
within the Chillagoe Formation which hosts the Red Dome and Mungana Deposits at
Chillagoe.
Lodestone carried out regional reconnaissance rock chip sampling and east-west soil
traverses during the quarter. The reconnaissance has located previously undiscovered
copper mineralisation with rock chip results up to 31.1% copper. The area has been named Leane’s Prospect.
Mineralisation at Leane’s Prospect consists of malachite veining along a possible regional
fault that places limestones to the west against chert and basic volcanics to the east.
Exposure of the mineralisation is possibly restricted by the extensive scree cover downslope
from the prominent limestone outcrops.
Soil sampling along the limestone contact (at a line spacing of 200 metres) has
demonstrated that anomalous copper ranging from 200 ppm up to 1.5%, occurs over
a strike length of 1,200 metres. The width and dip of the mineralisation is uncertain as
outcrop is poor; however soil sampling has detected anomalous copper (>200 ppm) up to
150 metres east of the limestone contact.
The highest gold assay from Leane’s Prospect to date has been 0.04 grams per tonne
from rock chip sampling. Gold results from the soil sampling program are pending.
Future work at Leane’s Prospect will involve further geochemical sampling and geological
mapping to assist drill target definition along the structure.

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