Lodestar Minerals (ASX:LSR) has entered the Chilean mining sector, securing an option agreement to acquire the Los Loros Copper-Molybdenum-Gold Project.
Located in the Coastal Cordillera porphyry belt—just 30km from the port of Coquimbo—the project places Lodestar in a premier jurisdiction alongside world-class deposits such as Teck Resources’ Carmen de Andacollo.
The acquisition is highlighted by the Aguila prospect, a drill-ready target featuring outcropping porphyry mineralisation.
Despite being recognised as a mineralised system since the 1970s, Los Loros has remained remarkably underexplored.
Previous drilling was largely shallow, focusing on surface copper oxides; however, significant historical intercepts point to deeper potential, including 136m @ 0.20% CuEq and a high-grade gold overprint yielding 20m @ 3.67 g/t Au, featuring a spectacular 2m zone at 33.83 g/t Au.
Lodestar Executive Director Coraline Blaud described the project as a "transformational opportunity," noting that the presence of outcropping mineralisation allows the company to bypass thousands of metres of expensive "blind" drilling.
At the time of reporting, Lodestar Minerals’ share price was $0.011.