Summary
Peny Project, Manitoba, Canada
The Peny property has seen little historical exploration with no previous focus on Lithium Pegmatite exploration being undertaken. Lodestar Battery Metals intends to refocus the project for the exploration of lithium within the current property boundary. A reconnaissance field exploration program consisting of prospecting and geochemical surveying was completed in Q3 2022. The work which was completed over a 2 week period in October 2022 is currently awaiting assay results which are expected in Q1 2023.
Peñasco Quemado, Sonora, Mexico
Peñasco Quemado, is located in northern Sonora, 60 km south of the town of Sasabe on the US-Mexican border and comprises 3,746 hectares in seven concessions. A 2006 drilling program outlined a historical measured and indicated resource of 2.57 million tonnes at a grade of 117 g/t Ag for a silver resource of 9.63 million ounces. The silver mineralization is associated with manganese oxides in a near surface shallow westerly dipping zone of polymictic conglomerate in the northern part of the deposit and in stockwork quartz and manganese oxides in a rhyolite dome in the southern part of the deposit. The mineralization has been traced along a 2 km strike length and drilling to date has been relatively shallow, less than 100m deep, mainly focused on the silver-bearing conglomerate.
Historical Mineral Estimate
| Resource Category (Underground) |
Mineral Type | Tonnes (Mt) |
Ag (g/t) |
Ag (Moz) |
|---|---|---|---|---|
| Measured | Oxides | 0.12 | 152 | 0.60 |
| Indicated | Oxides | 2.44 | 115 | 9.03 |
| Total M + I | Oxides | 2.57 | 117 | 9.63 |
| Inferred | Oxides | 0.10 | 41 | 0.13 |
Resource Disclaimer Lodestar Battery Metals Corp. | Peñasco Quemado
La Frazada, Nayarit, Mexico
La Frazada is located approximately 300 km northwest of Guadalajara and hosts silver rich epithermal veins with base metals. The 299-hectare exploration concession lies within the western foothills of the Sierra Madre Occidental. Access is good, being only a few kilometers from the main coastal highway with average elevations less than 200m above sea level. La Frazada was mined in the late 1890’s by an English company, with the Mexican revolution effectively stopping all activity by 1910. A small ornate smelter stack is all that remains of that early historical production. Two parallel quartz veins with galena and sphalerite have been traced for over 1800m along strike and host mineralization in three known mineralized shoots. La Frazada has a historical measured and indicated resource totaling 583,000 tonnes at 250 g/t Ag, 0.87% Pb, and 2.44% Zn; historical inferred resources are an additional 534,000 tonnes at 225 g/t Ag, 0.92% Pb, and 2.62% Zn. These resources are near surface and within the existing mine workings. A drilling program targeting deeper levels of the projected mineralized shoots has never been undertaken, but could appreciably add to the resource.
Historical Mineral Estimate
| Resource Category (Underground) |
Mineral Type | Tonnes (Mt) |
Ag (g/t) |
Au (g/t) |
Pb (%) |
Zn (%) |
Ag (Moz) |
Au (oz) |
Pb (Mlb) |
Zn (Mlb) |
Cu (Mlb) |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Measured | Sulphides | 0.30 | 260 | 0.20 | 0.88 | 2.36 | 2.54 | 1,900 | 5.86 | 15.78 | 0.63 |
| Indicated | Sulphides | 0.28 | 241 | 0.14 | 0.86 | 2.52 | 2.16 | 1,300 | 5.30 | 15.50 | 0.55 |
| Total M+ I | Sulphides | 0.58 | 251 | 0.17 | 0.87 | 2.44 | 4.70 | 3,200 | 11.16 | 31.28 | 1.18 |
| Inferred | Sulphides | 0.53 | 225 | 0.17 | 0.92 | 2.62 | 3.86 | 3,100 | 10.86 | 30.77 | 1.05 |
Resource Disclaimer Lodestar Battery Metals Corp. | La Frazada