Keep your hair on everyone. Not important. Just ASX bureaucracy hounding companies as usual. It's getting worse.
Fact 1: Lodestar discovered significant new mineralised veins during the drilling program
Fact 2: Observations were visual, as no time to get assays back before the drilling program ended
Fact 3: An immediate decision was made on site to extend the program and drill these visually apparent additional excellent mineralised drilling targets
Fact 4: All the drillhole assay results are still due shortly. Nothing has changed.
Fact 5: The visual reports of mineralisation downhole and previous assay samples at surface support the likelihood of good copper and gold results
If the new-style ultra-bureaucratic ASX had its way, and if this was in Western Australia, you would have had to sample these new veins, send the results for assay, demobilise the rig and crew, wait 3 months to get the local Native Title group out there, do a heritage survey, wait another two months for the sleepy consultant's report to come back, apply for a PoW, wait another month for that to come back, then finally remobilise another rig, crew and your geologists at huge additional expense, and in six months' time at the very earliest, finally get drillhole assays back from these two additional veins.
But fortunately for us, this is Chile not WA, and we had two very capable geologists on the job who recognised the opportunity and made the intelligent and correct decision and drilled these veins on the fly as part of the present program.
So we are going to get these likely rather good additional drilling results back in a about a week's, not six months hence, and not never.
Well done the team at Lodestar! (No thanks to the ASX).
And this is actually how it used to be done in Western Australia before we started to drown in foot-dragging bureaucracy. The geo had a rig and looked around the prospect whilst the drilling was being done, found other targets and drilled them too. This is how the Rocky's Reward nickel mine was found at Leinster. The geologist was driving past with a drilling rig, saw what he rightly believed to be a gossan (nobody else believed it), and he stopped and went: 'I'm gonna drill that ***ing thing!' Put a hole into it, intersected massive sulphides and found the orebody that became the mine.
De Grussa. Winu. All last-minute decisions by the project geologist done on the fly. You couldn't do it nowadays. Not in WA.
But fortunately for us, this Lodestar project is in Chile, where you can still find good mineralisation sticking out of the ground, and when you find it, if you've got a drilling rig, you can put a hole into it. Which is how a lot of orebodies have been found.
These guys are good. True professionals. Don't diss them!
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