The staged project development will be completed with its partners at Longford Exploration to complete propriety remote sensing analysis and targeting, a focused magnetics and radiometric survey over select targets, concurrent with fieldwork
Location of the Peny property and surrounding claims holders within the Greater Snow Lake district. (Credit: Lodestar Battery Metals Corp./CNW)
Lodestar Battery Metals (“Lodestar” or the “Company”) (TSXV: LSTR) (OTCQB: SVTNF) is pleased to announce it has approved an exploration budget and has commenced work at its Peny Property in Snow Lake Manitoba. The staged project development will be completed with its partners at Longford Exploration to complete propriety remote sensing analysis and targeting, a focused magnetics and radiometric survey over select targets, concurrent with fieldwork. Fieldwork includes a preliminary reconnaissance of initially identified targets and verification of reported pegmatite intersections in 86 historic drill holes on the property. Additionally, there will be focused ground truthing and systematic mapping and sampling program, which will be completed in the late summer to coincide with conceptual winter drilling plans.
“We have planned a comprehensive development program, and we’re thrilled to have Longford guide us as we further our exploration initiatives at our flagship Peny Property in Snow Lake Manitoba,” said Lowell Kamin, President, CEO & Chairman of the Board of Lodestar. “Longford, with their embedded partnerships, offers a diverse array of technical services that will help us understand the potential at the property, bringing expertise in exploration, geophysics, geomatics, ESG and energy services. Lodestar is looking forward to sharing our highlights for this campaign in the coming months.”
2023 Work Program
The 2023 field program will be advanced in stages during the coming months. The project development will focus on interpreting the results of the geochemical sampling, remote sensing, and magnetic, radiometric and structural interpretations before delineating targets for channel sampling and potential drilling in the fall of 2023.
- A review of historical data on the project has been completed, and ongoing regional geophysics and structural evaluation are being conducted to determine controls on pegmatite emplacement in the district.
- Remote Sensing has been commissioned across the district to determine prospectivity and define priority targets. As a result, the Company has accepted a proposal for the acquisition, processing, and analysis of Synthetic Aperture Radar (SAR) and Sentinel & Aster Multispectral data.
- Combining modern remote sensing techniques using multispectral imaging and synthetic aperture radar to analyze vegetation, structure, alteration, and ground movement, complex anomalies can be quickly and effectively identified.
- This multivariate exploration approach combines existing geological, geochemical, and geophysical data with multiple satellite analyses to identify new potential mineral targets.
- Initial site reconnaissance, ground-truthing of initial targets, and review and sampling of historical core from 83 drill holes completed on the property are contemplated in June; numerous pegmatite intersections are reported from historical information.
- An Airborne Tri-Axial Gradiometer magnetics, radiometric, and lidar survey will be completed over selected target areas identified from the previous high-value systematic targeting studies.
- A manned helicopter equipped with specially designed GEM Systems GSMP 35A Airborne Potassium Vapour high-resolution magnetometers mounted on a non-magnetic stinger in a tri-axial array will be utilized.
- The combination of techniques outlined above and existing data (knowledge of known mineral occurrences, soil and stream sampling, geophysics, regional geology, etc.) can be applied to mineral exploration using a weight-of-evidence approach in an area of interest to outline targets for advanced mineral exploration.
- A focused field exploration program, including systematic channel sampling, is to be completed in the Summer–Fall of 2023 and is intended to understand better local pegmatite zonation, geochemical fractionation vectoring, and mineral speciation to assess the tenor and conceptualize a potential volume prior to future drilling.
- An initial budget of CAD$400,000 has been approved for the property.
Initial reports from the property in 2022 describe numerous previously unsampled pegmatites across the property.
In order to preserve capital for its prospective Penny Property, Lodestar is in the process of carrying out a comprehensive review of its financial commitments for the silver-focused Peñasco Quemado and La Frazada properties, in Mexico. The objective will be to reduce required expenditures for non-core areas of the projects.
Source: Company Press Release