Lachlan Star's Basin Creek Drilling Yields Significant Copper Discoveries
LSA (LSA) Share Update January 2025 Wednesday 15th
Lachlan Star Reports Promising High-Grade Copper Intercepts at Basin Creek
Lachlan Star Limited (ASX: LSA) has announced promising results from its recent diamond drilling program at the Basin Creek prospect, revealing substantial high-grade copper mineralisation.
Instant Summary:
- Strong copper mineralisation in all six drillholes at Basin Creek.
- High-grade copper intercepts include 4.5m at 3.0% Cu and 3.5m at 6.6% Cu.
- Copper mineralisation confirmed over 200m strike length and 100m depth.
- Induced Polarisation survey indicates further potential to the north.
Drilling Results Overview
Lachlan Star Limited has successfully completed a six-hole diamond drilling program at the Basin Creek prospect, part of its Junee Project in New South Wales. The results have confirmed the presence of a significant copper sulphide system, with all drillholes intersecting notable copper mineralisation.
Among the most significant findings were intercepts such as 4.5 metres at 3.0% copper from 153.0 metres in drillhole BCD004, and 9.1 metres at 2.7% copper from 191.0 metres in BCD005, which included a high-grade section of 3.5 metres at 6.6% copper from 192.2 metres.
Geophysical Survey Insights
The company also conducted an Induced Polarisation (IP) geophysical survey, which revealed a strong chargeable and resistive response coinciding with the copper sulphide system. This survey suggests that the mineralisation may extend further north, beyond the current drilling coverage.
Future Exploration Plans
Encouraged by these results, Lachlan Star plans to continue its exploration efforts, focusing on the untested northern strike of the Basin Creek prospect. The company has already resumed its IP survey and is preparing for a follow-up drilling program to further delineate the extent of the copper system.
The discovery of high-grade copper mineralisation at Basin Creek is a significant development for Lachlan Star. This could enhance the company's valuation and attract increased investor interest. The potential for further discoveries to the north could also lead to a reevaluation of the project's overall potential.
Investor Reaction:
Analysts are likely to view these results positively, given the high-grade nature of the copper intercepts. The confirmation of a large copper sulphide system may lead to increased investor confidence in Lachlan Star's exploration strategy.
Conclusion:
Investors should keep an eye on Lachlan Star's upcoming drilling activities and geophysical surveys, as these could provide further insights into the Basin Creek prospect's potential. The company's strategic focus on expanding the known mineralisation could yield significant returns.