Lodestar acquires porphyry prospect

A diamond drilling program has been proposed to test Lodestar Explorations’ (VSE) recently acquired Taurus copper-molybdenum-gold property, 46 miles northeast of Tetlin Junction on the Alaska Highway. The original Taurus porphyry copper-molybdenum prospect was discovered in 1970, and explored over the next decade by a number of major mining companies. In 1990, a prospector found that the original claims covering two large zones of known porphyry copper-molybdenum mineralized had lapsed. He staked most of the ground as two separate properties.

The East Taurus property was recently optioned by Placer Dome (TSE). Only two of 29 holes previously drilled on this property were tested for gold, with one reported to have graded 0.018 oz. gold over 553 ft. (from 27-580 ft.). Within the same hole, 770 ft. of mineralization averaged 0.26% copper and 0.048% molybdenum.

Lodestar acquired the surrounding ground now known as the Taurus property, which includes the large and untested West Taurus zone. It covers 5,520 acres.

Lodestar reports that a highly altered and mineralized quartz monzonite porphyry intrusion at the centre of the West Taurus zone is an elliptically shaped area in excess of 6,000×2,000 ft., which is outlined by coincident copper, molybdenum and silver soil anomalies. None of the surface mineralization or soil anomalies have been drill tested.

The 1991 program will test the West Taurus zone and a number of other possible targets on the property. The helicopter-supported drilling program is aimed at testing the property’s porphyry copper-molybdenum and lode gold potential.

The Taurus property is accessible by air and located in the Tanacross quadrangle of east-central Alaska.