ASX-listed Lodestar Minerals has expanded its exploration footprint at the Darwin iron-oxide-copper-gold (IOCG) project in northern Chile, applying for an additional 3 200 ha of exploration licences adjacent to its existing tenements.

The new licence areas display similar geological and geophysical characteristics to the current Darwin project and contain evidence of historical mining activities, along with multiple magnetic anomalies identified as potential drill targets.

Located 75 km from Copiapó, the Darwin project sits within a region that hosts several significant copper and gold deposits, including the Candelaria deposit, which holds 1.2-billion tonnes at 0.6% copper, 0.13 g/t gold and 2.0 g/t silver. Other notable deposits in the region include Carola and Atacama Kozan, which host 10-million tonnes at 1.8% copper and 0.5 g/t gold, and 50-million tonnes at 1.6% copper and 0.35 g/t gold, respectively.

Lodestar MD Ed Turner said the company was impressed with the prospectivity of the expanded Darwin area, noting the presence of multiple magnetic anomalies and surface evidence of copper, gold, and iron mineralisation.

“We have been compelled to apply for this additional ground prior to commencing our inaugural drilling programme at Darwin,” Turner stated. “This is an exciting opportunity for Lodestar and its shareholders, and we believe the area has significant potential for economic gold, copper, and iron-ore mineralisation.”

Lodestar is finalising preparations to begin reverse circulation drilling at the Darwin project in the coming weeks, following the previously announced exploration timeline. The expanded landholding is expected to enhance the company’s chances of exploration success.

The Darwin project forms part of Lodestar’s broader strategy to establish a strong presence in Chile’s prolific IOCG belt, where major mining companies are actively operating and investing in copper and gold resources. The company remains focused on unlocking value for shareholders through systematic exploration and drilling.