Lodestar Minerals Ltd (LSR.AX) September Quarterly Report - Advances Ned's Creek Modelling and Expands Exploration Portfolio

Perth, Nov 2, 2026 AEST (ABN Newswire) - Lodestar Minerals Limited (ASX:LSR) (3EJ:FRA) (LSMLF:OTCMKTS) is pleased to provide its quarterly activities report for the period ended September 30, 2026.

HIGHLIGHTS

Western Australia

- Post quarter end, Lodestar delivered a maiden Inferred Mineral Resource Estimate at Ned's Creek of 5.9Mt at 1.16g/t Au for 221,000oz gold, reported at a 0.5g/t Au cut-off. Oxide and transitional material contains approximately 103,000oz, or 47% of reported gold content.

- Final assays received from the 12,417m, 106-hole RC drilling program completed at Ned's Creek in June 2026, enabling geological and grade modelling to progress towards the maiden Mineral Resource Estimate.

- High-grade gold results at Gidgee Flat and Central Park confirmed mineralisation in oxide, transitional and fresh-rock zones, with opportunities for further exploration along strike and at depth.

USA

- Virgin Mountain landholding expanded by approximately 40% to 661 acres across 32 mining claims. Selective rock chip sampling returned up to 14.68% TREO, including 0.76% dysprosium oxide, with HREO comprising 59% of TREO in that sample.

Chile

- Final assays from the second Three Saints diamond hole supported the IOCG geological model and provided new vectors for exploration targeting.

- Five-year option agreement at Pacifico, alongside new licence applications, consolidated an approximately 22km2 project area covering a six-kilometre prospective porphyry corridor in Chile.

- Los Loros drilling postponed due to weather-related access restrictions, with commencement dependent on restoration of road access.

Management Commentary

Commenting on key progress made during the September 2026 quarter, Lodestar CEO & Director Coraline Blaud said: "The September quarter laid the foundations for an important milestone at Ned's Creek, with final assays from our 12,417m RC drilling program enabling completion of the maiden Mineral Resource Estimate announced in October. The Inferred Mineral Resource of 5.9Mt at 1.16g/t gold for 221,000oz, reported at a 0.5g/t gold cut-off, provides a very solid and exciting foundation for assessing development pathways.

Exploration expenditure during the quarter reflected the substantial drilling and technical work undertaken to deliver this resource. Our near-term priority is to advance the studies required to support a Mining Lease application in early CY2027 and assess options for progressing Ned's Creek towards production, subject to further technical and economic evaluation and the necessary approvals.

Across the broader portfolio, we continue to advance our projects and build strengthen our geological understanding. We expanded our Virgin Mountain landholding, received results supporting further IOCG targeting at Three Saints, and acquired the consolidated prospective six-kilometre porphyry corridor at Pacifico. We remain focused on delivering the next milestones at Ned's Creek while refining exploration priorities across our Chilean and US projects."

SEPTEMBER QUARTER OPERATIONS SUMMARY

During the September 2026 quarter, Lodestar advanced its gold, copper and heavy rare earth portfolio. At Ned's Creek, receipt of final assays from the completed RC drilling program enabled resource modelling to advance, culminating post quarter end in the delivery of a maiden Inferred Mineral Resource Estimate (MRE) of 5.9 million tonnes at 1.16 g/t Au, for 221,000 ounces of gold, reported at a cut-off grade (COG) of 0.5 g/t Au and classified entirely as Inferred under the JORC Code (2012 Edition).

In parallel, Lodestar expanded its Virgin Mountain HREE project landholding in Arizona and added the Pacifico Cu-Mo porphyry project to its Chilean copper portfolio through a staged option agreement.

Also in Chile, assays from Three Saints improved the Company's understanding of the concealed IOCGstyle hydrothermal system and the geological controls that will guide further exploration.

*To view the full Quarterly Report, please visit:
https://abnnewswire.net/lnk/9Q44N61O

About Lodestar Minerals Ltd

Lodestar Minerals Limited (ASX:LSM) (OTCMKTS:LSMLF) is an active critical metals, gold and base metals explorerwith projects in Australia, Chile and the United States. The Company's portfolio includes the Virgin Mountain HREE Project in the United States; the Pacifico Cu-Mo Porphyry, Los Loros Cu-Mo-Au Porphyry and Three Saints IOCG projects in Chile; and the Ned's Creek Gold and Earaheedy projects in Western Australia. 

Lodestar also has exposure to lithium via its 27.5M performance rights in ORE Resources (ASX:OR3) (previously known as Future Battery Minerals, ASX-FBM) who own the Kangaroo Hills and Miriam Projects in Western Australia. 
 

   

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