Lodestar Minerals (ASX:LSR) has completed the acquisition of the Virgin Mountain Project in Arizona, USA, advancing its strategy to expand into highly prospective US mining jurisdictions.
An initial field visit in late November 2025 saw Lodestar's technical team undertake geological mapping and reconnaissance rock chip sampling across key areas of the project, with the aim of verifying historical sample and shaft locations, capturing surface mineralisation, and assessing the geology and structural setting.
The samples collected have been submitted for laboratory analysis, with assay results expected in late January.
The Virgin Mountain Project is historically noted for high concentrations of heavy rare earth elements—including yttrium, ytterbium, dysprosium, terbium, gadolinium, holmium, erbium, lutetium, and thulium—as well as valuable light rare earth elements neodymium and praseodymium, providing a strong foundation for Lodestar’s planned exploration programs.
The company will review the results upon receipt and determine next steps, including follow-up fieldwork and potential drilling activities.
At the time of reporting, Lodestar Minerals' share price was $0.012.