Lodestar Minerals Nears October MRE at Ned’s Creek After Final Assays
Key Takeaways
- All assay results from Lodestar's 12,417m, 106-hole RC drilling programme at Ned's Creek have been received and validated, clearing the path to a maiden JORC Mineral Resource Estimate targeted for the second half of October 2026.
- The completed database confirms the project is tracking within the December 2025 Exploration Target of 250,000–300,000 oz Au across 5–7 Mt at 1.0–1.7 g/t Au.
- High-grade intercepts including 7m @ 4.69 g/t Au with a 2m sub-interval at 15.29 g/t Au at Gidgee Flat, and 11m @ 2.96 g/t Au including 3m @ 8.78 g/t Au at Central Park, confirm genuine grade within the system.
- Mineralisation remains open along strike and at depth across all three prospects — Gidgee Flat, Contessa, and Central Park — meaning the maiden MRE is expected to represent only a portion of the system's longer-term potential.
- Development workstreams including environmental assessments, metallurgical test work, and heritage studies are already underway, with a Mining Lease application targeted for early CY2027.
Final assays in, maiden MRE now within reach at Ned’s Creek
All assay results from Lodestar Minerals’ 12,417m, 106-hole RC drilling programme at its Ned’s Creek Gold Project in Western Australia have now been received and validated. With the database complete, geological and grade modelling can be finalised in support of a maiden Mineral Resource Estimate (MRE), which the company anticipates publishing in the second half of October 2026.
The results continue to support the Exploration Target published in December 2025, which outlined a range of 250,000–300,000 oz Au across 5–7 Mt at 1.0–1.7 g/t Au. The current results indicate the project is tracking within that range.
Three prospects sit at the heart of the programme: Gidgee Flat, Contessa, and Central Park. Mineralisation remains open along strike and at depth across all three, signalling further upside beyond what the maiden MRE will initially capture.
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Standout results across all three prospects
Gidgee Flat — near-surface grade and depth consistency confirmed
New results from Gidgee Flat demonstrate grade near surface in the central zone and consistency at depth in the south. Key intercepts include:
- 11m @ 1.76 g/t Au from 111m, including 5m @ 3.53 g/t Au from 113m (LNRC156)
- 7m @ 4.69 g/t Au from 214m, including 2m @ 15.29 g/t Au from 219m (LNRC153)
- 11m @ 2.33 g/t Au from 20m (LNRC132)
Hole LNRC156 is particularly notable: resampling at 1m intervals returned significantly higher grades than the original 4m composite samples. This outcome highlights why 1m resampling matters — composite sampling across broader intervals can obscure concentrated high-grade zones that only become visible at finer resolution.
Central Park — high-grade confirmed by 1m resample verification
Previously reported thick, high-grade intervals at Central Park have been confirmed through 1m resampling of the original 4m composite results. This is a methodological quality control step, not a new discovery, and the re-sample results were equally positive:
- 6m @ 2.57 g/t Au from 42m in vertical hole LNRC210
- 26m @ 1.57 g/t Au from 51m, including 3m @ 5.08 g/t Au from 69m in vertical hole LNRC210
- 2m @ 6.69 g/t Au from 28m in vertical hole LNRC196
- 11m @ 2.96 g/t Au from 36m, including 3m @ 8.78 g/t Au from 43m in vertical hole LNRC196
- 21m @ 1.08 g/t Au from 18m, including 3m @ 3.96 g/t Au from 27m in vertical hole LNRC200
| Prospect | Hole ID | From (m) | Interval & Grade | Notable High-Grade Sub-interval |
|---|---|---|---|---|
| Gidgee Flat | LNRC156 | 111m | 11m @ 1.76 g/t Au | 5m @ 3.53 g/t Au from 113m |
| Gidgee Flat | LNRC153 | 214m | 7m @ 4.69 g/t Au | 2m @ 15.29 g/t Au from 219m |
| Gidgee Flat | LNRC132 | 20m | 11m @ 2.33 g/t Au | — |
| Central Park | LNRC210 (vertical) | 42m | 6m @ 2.57 g/t Au | — |
| Central Park | LNRC210 (vertical) | 51m | 26m @ 1.57 g/t Au | 3m @ 5.08 g/t Au from 69m |
| Central Park | LNRC196 (vertical) | 28m | 2m @ 6.69 g/t Au | — |
| Central Park | LNRC196 (vertical) | 36m | 11m @ 2.96 g/t Au | 3m @ 8.78 g/t Au from 43m |
| Central Park | LNRC200 (vertical) | 18m | 21m @ 1.08 g/t Au | 3m @ 3.96 g/t Au from 27m |
What is a Mineral Resource Estimate, and why does this one matter?
A Mineral Resource Estimate is a formal, JORC-compliant statement of how much mineralisation is estimated to exist in the ground at a defined grade. It is the first standardised measure of a project’s scale — classified by confidence level as Inferred, Indicated, or Measured — and is the benchmark investors, analysts, and potential financiers use to assess a project’s economic potential.
The distinction from an Exploration Target is important. An Exploration Target is a range estimate: it indicates the prospectivity of a system and is used to guide drilling, but it carries no JORC classification and cannot underpin development decisions or project financing. Lodestar published its Exploration Target of 250,000–300,000 oz Au in December 2025 as a preliminary signal of the system’s scale. The October 2026 MRE will be the first formally JORC-classified result, converting that signal into a classified resource. With mineralisation remaining open along strike and at depth across all three deposits, the MRE is also expected to represent only a portion of the system’s longer-term potential.
Earlier drilling at Ned’s Creek had already returned high-grade gold beyond the Ned’s Creek Exploration Target range, with intercepts from Gidgee Flat and Central Park extending the system’s known footprint and helping frame the scale assumptions now underpinning the October 2026 MRE work.
Development pathway taking shape alongside the MRE
Lodestar is progressing several workstreams in parallel with the resource modelling, positioning Ned’s Creek as a project advancing toward development, not merely exploration.
Key milestones and their current status:
- Maiden MRE — expected second half of October 2026
- Environmental assessments — initiated and on schedule
- Metallurgical test work — initiated and on schedule
- Heritage and technical studies — underway, with specialist contractors engaged
- Mining Lease application — targeted for early CY2027
The project’s location adds further strategic context. Ned’s Creek sits in a proven gold region 40km east of Catalyst Metals’ Plutonic Gold Mine and plant, and within trucking distance of Westgold’s Blue Bird plant near Meekatharra. No agreement with either party has been disclosed; the source notes proximity only.
Coraline Blaud, CEO and Executive Director
“The completion of the 12,417m drilling program and receipt of the final assay results mark an important milestone for the Ned’s Creek Gold Project… With drilling and assays complete, our focus is now on finalising and delivering the maiden MRE.”
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What investors should be watching next
The near-term catalyst list at Ned’s Creek is well-defined and sourced directly from the announcement:
- Maiden MRE publication — anticipated in the second half of October 2026, representing a material de-risking event that will provide the first JORC-classified measure of the project’s scale
- Mining Lease application — targeted for early CY2027, marking the transition from explorer to developer
- Additional mineralisation testing beyond the current Exploration Target, planned to proceed concurrently with MRE work, leaving the system open for further upside
- Infill and extensional drilling to be planned following MRE delivery, aimed at improving geological understanding and potentially upgrading resource confidence
Ned’s Creek is one project within a broader portfolio. Lodestar Minerals is an active explorer across Australia, Chile, and the United States, with exposure to critical metals, gold, and base metals — including rare earth projects in the US and copper-molybdenum porphyry projects in Chile. The Ned’s Creek MRE will be a defining moment for the company’s near-term development narrative, but it sits within a genuinely diversified multi-commodity platform.
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