Some background info on LSA formerly TDR Toodyay resources.
Has gone into trading halt pending a coal aquisition in South Africa.
Has good copper prospects in NSW.
Share price had quite a significant breakout on high volume last week from 1.6 cents to 3.8 cents.
Lachlan Star Limited recently completed an induced polarisation (IP) survey at the Bushranger
Exploration Project (EL5574) in the Lachlan Fold Belt of New South Wales. The survey
focussed on an area at the southern end of the tenement, known as the Footrot Prospect,
approximately 6km to the south-east of the Racecourse resource.
Most of the work completed to date at Bushranger has been at the Racecourse Prospect. North
Limited completed an IP survey early in the target phase of the Racecourse Prospect. This
survey provided an accurate location of sulphide mineralisation at Racecourse. Subsequent
drilling proved that the IP response was associated with copper mineralisation. Between 2003
and 2006, Straits Resources Limited completed over 6,000 metres of RC and diamond drilling.
Resource modelling completed in 2006 provided an Indicated and Inferred Resource of 27.6Mt
at 0.45% Cu at the Racecourse Prospect.
In contrast, since 2003 only 384 metres of RC drilling (4 holes) and 122 metres of shallow
aircore were completed at the Footrot Prospect. Other exploration over Footrot included soil
geochemistry and aircore drilling (187 holes) completed by North Limited between 1993 and
1998. Lachlan Star reviewed all the available information and considered Footrot to be underexplored
and an IP survey was conducted to assist in target identification at Footrot.