What is the latest update regarding Lodestar Minerals (ASX:LSR)?

Lodestar Minerals has officially commenced a new exploration and drilling phase at its Ned’s Creek Gold Project in Western Australia.

Why is the Ned’s Creek Gold Project significant for Lodestar Minerals (ASX:LSR)?

Ned’s Creek is a primary focal point for the company because it is situated in a region known for prolific gold-bearing structures. This specific drilling programme is designed to test targets previously identified through geophysical surveys.

What is the current share price and market valuation for Lodestar Minerals (ASX:LSR)?

At the time of the latest reporting, Lodestar Minerals (ASX:LSR) was trading at $0.020 per share. For retail investors, this price point categorises the stock as a "penny play" or micro-cap explorer.

What operational activities are currently happening at the Ned’s Creek site?

The site is currently a "hive of activity" featuring specialised drilling teams and geologists working in tandem. The Westdrill rig is extracting core samples which are being bagged and prepared for geochemical analysis.

What are the main bull points for Lodestar Minerals (ASX:LSR) following this news?

The primary bull case rests on the "high-priority" nature of the targets being drilled and the project's location in a proven gold-producing region. Commencing drilling is a positive catalyst as it moves the company from speculative theory to physical evidence.

What are the key risks for investors in Lodestar Minerals (ASX:LSR)?

As with most junior explorers, the main risk is "exploration risk"—the possibility that drilling results return low-grade or uneconomic gold concentrations. Additionally, at a share price of $0.020, the stock is highly volatile and sensitive to news flow.

How does this exploration phase fit into Lodestar’s long-term strategy?

This phase is a transition from identification to definition. Management’s strategy involves using rigorous geological assessments and geophysical data to de-risk drilling before the rigs arrive.

What should investors watch for next from Lodestar Minerals (ASX:LSR)?

The next major catalyst will be the release of assay results from the geochemical analysis of the core samples currently being collected. Investors should look for "intercept" data, which describes the width and grade of any gold found (e.g., grams per tonne).

Lodestar Minerals commences drilling at Ned's Creek Project

Written by Liezl GambePublished Apr. 16 2026

Lodestar Minerals (ASX:LSR) commenced its latest exploration phase at the Ned's Creek Gold Project.

Under the clear skies of the Goldfields-Esperance region, a Westdrill rig has been deployed to the site, signalling a renewed push to unlock the mineral potential of this highly prospective landscape.

The operation, headquartered out of Fremantle, underscores Lodestar's commitment to rigorous geological assessment.

The site is currently a hive of activity, with specialised drilling teams working alongside site geologists to extract and categorise core samples.

Early photographic evidence from the site shows the heavy-duty Westdrill machinery positioned atop the characteristic red earth of the WA interior, with systematic rows of sample bags already being prepared for geochemical analysis.

Ned’s Creek has long been a focal point for Lodestar, and this current programme is designed to test high-priority targets identified through previous geophysical surveys.

The project sits within a region renowned for its gold-bearing structures, and the company’s strategic approach aims to define the scale and grade of the underlying mineralisation.

At the time of reporting, Lodestar Minerals' share price was $0.020.