Business · Companies · 2 hrs ago
Lodestar reports 221,000-ounce inferred gold resource at Ned’s Creek
Lodestar Minerals has reported a 221,000-ounce inferred gold resource at its Ned’s Creek project in Western Australia.
The estimate covers three deposits and is based on 5.9 million tonnes of material averaging 1.16 grams of gold per tonne.
The company has also identified a potential 159,000 to 264,000 ounces beyond the current resource, but this is an exploration target, not a confirmed resource.
Ned’s Creek is about 40 kilometres east of Catalyst Metals’ Plutonic gold mine and processing plant, which could offer a nearby processing option if practical and commercial conditions allow.
Lodestar plans about 10,000 metres of drilling from the fourth quarter of 2026 through 2027 to test extensions and improve confidence in the resource.
Technical studies and environmental assessments are planned to support a mining lease application in early 2027, while the company assesses possible development routes.
Lodestar Minerals reported a maiden inferred gold resource of 221,000 ounces at its Ned’s Creek project in Western Australia.
The estimate covers 5.9 million tonnes grading 1.16 grams of gold per tonne, using a 0.5g/t cut-off.
The resource is spread across Gidgee Flat, Contessa and Central Park, with Gidgee Flat contributing the largest share.
A conceptual exploration target outside the resource outlines a further 159,000 to 264,000 ounces.
Lodestar plans follow-up drilling from the fourth quarter of 2026 and aims to apply for a mining lease in early 2027.
- Who
- Lodestar Minerals, an Australian-listed mining company.
- What
- It reported a maiden inferred resource of 221,000 ounces of gold at Ned’s Creek.
- When
- The report was published on October 21, 2026.
- Where
- The Ned’s Creek project in Western Australia, about 40km east of Catalyst Metals’ Plutonic gold mine and processing plant.
- Why
- The estimate met the main objective of Lodestar’s 2026 resource definition drilling program and provides a basis for further exploration and development studies.
This story does not have two clearly opposing sides.
Lodestar carried out the program that aimed to define a resource at Ned’s Creek.
Stockhead reported Lodestar’s maiden inferred resource estimate of 221,000 ounces.
Lodestar intends to undertake about 10,000 metres of drilling across multiple programs.
Lodestar plans to apply for a mining lease, supported by technical studies and environmental assessments.
- Resource estimate
- 5.9 million tonnes at 1.16g/t gold for 221,000 ounces
- Cut-off grade
- 0.5g/t gold
- Gidgee Flat
- About 125,000 ounces
- Contessa
- 69,000 ounces
- Central Park
- 26,000 ounces
- Exploration target
- 159,000–264,000 ounces from 5.8–7.1 million tonnes at 0.86–1.15g/t gold
2 sources
What people are saying
It provides a strong foundation for the next phase of exploration, with follow-up drilling planned to improve geological confidence, support future resource upgrades and test extensions along strike and at depth.
From a geological perspective, we see encouraging potential to grow the resource, with mineralisation remaining open along strike and at depth, while parallel structures remain underexplored.