Lachlan Star (ASX: LSA) has identified favourable structural and alteration indicators that will inform the next phase of work. first expansive on-ground exploration programme across its prospective gold and copper portfolio within the highly endowed Lachlan Fold Belt region of central New South Wales.
The company also secured a strategic expansion of its exploration portfolio in the highly competitive and well-endowed Cobar region with the acquisition of new 100%-owned ground located adjacent to two of the region’s more significant deposits and existing mining infrastructure.
“This work demonstrates our team’s commitment to undertake quality, systematic field exploration across our portfolio of projects, and is the first on-ground activity completed on these tenements since acquiring them from DevEx Resources last year,” CEO Andrew Tyrrell said.
“I am excited by what we have observed in the field so far, with strong indications of key alteration and structure within our tenure, and we will proceed with the next phase of work to clearly define targets for drill testing.
“We have successfully applied for new tenements within the Cobar region, across some highly prospective and strategic ground. These new applications bolster our position as a key explorer within a region that is currently undergoing a renaissance of mining and exploration activity.”
Lachlan Star has successfully lodged applications for four new Exploration Licences within the highly competitive and endowed Cobar region of New South Wales.
Three tenements (ELA6760, ELA6761 and ELA6762) are located within the central Cobar Basin, sit directly adjacent to existing mines and infrastructure (the CSA Mine and the Peak Gold Mine) and overlie favourable structures and prospective geology. A fourth tenement (ELA6759) is contiguous with the existing North Cobar Project tenements and overlies the northerly strike extent of the interpreted Rookery Fault not already covered by the company’s existing tenure.
Following completion of recent work on the North Cobar Project and a mineral systems prospectivity review of the region, the company has identified key target areas within the Cobar Basin that are interpreted as being favourable for hosting significant copper-gold and lead-zinc-silver mineralisation. The principal criteria are that economic mineralisation within the region is strongly controlled by the structural architecture of the Cobar Basin, with an emphasis on early extensional growth faults and the intersection of these with major transverse faults.
The Cobar region remains a premier location for gold and base metal discovery with an estimated pre-mining mineral endowment of 202 tonnes of gold, 4.6 tonnes of silver, 2.5 million tonnes of copper, 4.8 million tonnes of zinc and 2.8 million tonnes of lead. The region has also seen ongoing and increased interest, underpinned by the acquisition of the CSA Mine in June 2023 by Metals Acquisition Limited for $1.64 billion.
