Lachlan Star's Basin Creek Drilling Yields Promising Copper Intercepts
LSA (LSA) Share Update December 2024 Wednesday 11th
Lachlan Star Unveils Promising Copper Assay Results at Basin Creek
Lachlan Star Limited has announced promising initial assay results from its maiden diamond drilling program at the Basin Creek prospect in New South Wales, revealing significant copper mineralization.
Instant Summary:
- Significant copper intercepts reported in holes BCD001 and BCD003.
- High-grade copper found, including 79.20 meters at 0.52% Cu in BCD003.
- Assay results for four remaining holes expected within a month.
- 3D geological modeling and interpretation are ongoing.
Initial Drilling Results
Lachlan Star Limited has released the first batch of assay results from its diamond drilling program at the Basin Creek prospect, part of the company's 100%-owned southern Junee Project in the Lachlan Fold Belt of New South Wales.
The initial results from drill holes BCD001 and BCD003 have shown significant copper mineralization over broad downhole widths. Notably, hole BCD003 revealed 79.20 meters at 0.52% copper from 12.00 meters, with high-grade internal intercepts reaching up to 11.76% copper over 0.75 meters.
Hole BCD001 also returned promising results, including 20.50 meters at 0.45% copper from 20.00 meters and several other noteworthy intercepts.
Geological Context
The drilling program has confirmed the continuity and down-plunge extents of the copper sulphide mineralization, which includes chalcopyrite, bornite, and chalcocite. These minerals are found within lenses of semi-massive chalcopyrite, forming vein-breccia and fracture-controlled infill.
The results are consistent with previous observations of copper sulphide mineralization, and the company is continuing 3D geological modeling and interpretation to better understand the prospectivity of the Basin Creek copper system.
Future Expectations
Lachlan Star expects to receive assay results for the remaining four diamond holes over the next month. The company is optimistic that these will further enhance the understanding of the Basin Creek prospect's potential.
The positive assay results from Basin Creek are likely to boost investor confidence in Lachlan Star's exploration potential. The significant copper intercepts suggest promising resource potential, which could positively impact the company's stock price. However, the full impact will depend on the results from the remaining holes and further geological analysis.
Investor Reaction:
Analysts are likely to view these results favorably, given the significant copper intercepts reported. The anticipation of further results could maintain investor interest and potentially lead to increased stock activity.
Conclusion:
Investors should keep an eye on the upcoming assay results for the remaining holes, as they could provide further insights into the Basin Creek prospect's potential. Lachlan Star's ongoing exploration efforts and geological modeling will be crucial in determining the project's viability.