Fremantle-based Lodestar Minerals (ASX:LSR) has completed legal and technical due diligence on its high-grade Iron Oxide-Copper-Gold 'Darwin' Project in Chile.
The 3,100-hectare project was acquired from Aeramentum Resources through an option agreement.
The company has issued 25,000,000 fully paid ordinary shares in accordance with the conditions of the agreement, paving the way for accelerated exploration efforts.
Previous reports have highlighted high-grade copper and gold mineralisation, with rock chip samples revealing impressive figures—gold up to 247 g/t and copper as high as 8.09%.
The completion of due diligence marks the project as drill-ready, with Lodestar planning a systematic exploration program starting in early 2025.
The prospect is strategically located within one of the world's major IOCG belts.
"The association between high-grade Cu, Au and Fe at surface in the Darwin Project is very encouraging," stated Ed Turner, Managing Director of Lodestar Minerals.
The region hosts notable deposits like the Candelaria deposit, confirming its mineral-rich potential.
Lodestar remains committed to advancing its global portfolio, which includes projects in Western Australia such as Earaheedy and Ned's Creek, maintaining its focus on base metal and gold exploration.
Lodestar Minerals is an active base metal and gold explorer. The company's projects, aside from the Darwin Project in Chile, comprise the 100% owned Earaheedy, Ned's Creek and Coolgardie West projects in Western Australia.
At the time of reporting, Lodestar Minerals' share price was $0.013.
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