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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