Lodestar Minerals Limited (LSR.AX) Confirms High-Grade Heavy Rare Earths at Virgin Mountain USA

Sydney, Mar 18, 2026 AEST (ABN Newswire) - Lodestar Minerals Limited (ASX:LSR) (LSMLF:OTCMKTS) announced mineralogy results from a recently completed study on rock chips taken from its 100% owned Virgin Mountain Heavy Rare Earth Project, located in the state of Arizona in the USA.

HIGHLIGHTS

- Mineralogy results received from the study of rock chip samples from the Virgin Mountain REE Project in Arizona, USA

- Xenotime confirmed as dominant REE-bearing mineral, confirming Heavy Rare Earth potential for the Virgin Mountain REE Project in Arizona, USA

- Significance of Xenotime

o Contains a high proportion of dysprosium, terbium and lutetium; high value HREEs

o All three elements are repeatedly identified by agencies in the USA as critically undersupplied with severe exposure to foreign supply

o Xenotime is currently one of the only HREE-dominant minerals with a proven commercial processing pathway

- Significance of Dy/Tb/Lu

o Dysprosium, terbium and lutetium exports are heavily restricted by China (which supplies most of global production)

o Fundamental for the production and development of critical defence systems in the USA

o Key requirement for EV motors, wind turbines, defence systems, guidance systems, radar technology, advanced military electronics, and nuclear reactors.

- The confirmation of xenotime as the dominant HREE mineral elevates the project's strategic value and positions it well for funding and partnership opportunities

- Samples with confirmed xenotime taken from a mineralised shear zone within a 5km-long mapped structure hosted by a Paleoproterozoic gneiss.

- Lodestar on track for the commencement of USA field activities in early April

Commenting on the encouraging results, Lodestar Executive Director and Head of Exploration Coraline Blaud said: "This is a great outcome for Lodestar and highlights the potential strategic value of our Virgin Mountain project in the US. Mineralogy reports have returned exactly what we are looking for from a HREE project. With xenotime confirmed as the dominant rare-earth-bearing mineral, we can now confidently state that mineralisation at Virgin Mountain represents a potential source of heavy rare-earth elements, particularly the high-value elements dysprosium, terbium and lutetium.

The significance of xenotime is that it naturally hosts a substantial proportion of the in-demand highvalue elements and, is well understood source of HRE with a proven flowsheet for commercial production. Combined with the high grades and elevated HREE ratiosreturned from recent sampling, these mineralogical results reinforce that the Virgin Mountain REE Project is well positioned to advance as a heavy rare earth opportunity with strategic relevance to the United States' domestic supply priorities.

These results not only validate the exploration team's success in identifying the high-value HREE system but also provide a strong endorsement to progress Virgin Mountain toward an advanced economic heavy rare earth asset. Our team will be back on the ground in April to work towards realising this goal."

Mineralogy Overview

Six samples from the reconnaissance sampling programme completed in November 2025 were selected (refer ASX announcement 23 February 2026 titled "High Grade Heavy Rare Earths Confirmed at Virgin Mountain").

Mineralogical samples were prepared from chips of the reconnaissance rock chip samples over the primary structural trend collected by Lodestar Minerals in late 2025, including:

o CA050, 3.73% TREO, containing 48% HREO and 17% Nd/Pr
o CA052, 1.81% TREO, containing 58% HREO and 14% Nd/Pr
o CA049, 1.67% TREO, containing 62% HREO and 13% Nd/Pr
o CA053, 1.41% TREO, containing 64% HREO and 12% Nd/Pr
o CA051, 1.00% TREO, containing 50% HREO and 16% Nd/Pr

Samples were examined using a Scanning Electron Microscope (SEM) at the Centre for Advanced Microscopy (CAM) at the Australian National University. The machine at CAM is equipped with EDS and EBSD systems for elements and crystallographic analysis.

Sampled mineralisation showed an extremely high ratio of heavy rare-earth elements (Figures 2*) compared to the REE deposits linked to alkaline magmatism, which are typically found in the region. The elevated levels of HREE (particularly Dy/Tb/Lu) matched the signature of xenotime mineralisation.

Xenotime is of significant economic interest for the commercial production of HREEs, and mineralogical analysis is required for the positive identification of the mineral.

Mineralogical work was undertaken on reconnaissance samples (Figure 3) to confirm that the source of heavy rare-earth elements at the Virgin Mountain project is xenotime.

Within the prepared sample range, HREE mineralisation was best represented by 2 samples, CA-50 (3.73% TREO, 48% HREO and 17% Nd/Pr) and CA-53 (1.41% TREO (64% HREO and 12% Nd/Pr) which were then selected for analysis. The Centre for Advanced Microscopy (CAD) at the Australian National University considered these two samples to be best representative of REE mineralisation. These two samples are 225m apart suggesting there is mineralogical consistency within mineralisation along strike between Hummingbird East to Hummingbird West.

The primary finding of the study was that xenotime predominates as the major REE-bearing phase and is the dominant source of HREEs found in sampled mineralisation (Figure 4*). This is a significant result, as xenotime has previously been commercially processed at the Browns Range HRE-mine (ASX:NTU) for the production of HRE carbonate.

The style of mineralisation can potentially be attributed to a REE-enriched metasomatic fluid that has mineralised the shear zone at Virgin Mountain. At this point, the extent of mineralisation within the 5km-long structure is unknown and requires further exploration.

Further work is required to understand the geological mode and determine the controls on mineralisation.

Neodymium/Praseodymium (LREE) levels are elevated due to the presence of monazite, a phosphate mineral similar to xenotime but LREE-dominant, with proven economic potential for Nd/Pr2. Hydrated variations of xenotime and monazite are present in the sample (churchite and rhabophane, respectively) and can be considered interchangeable for this report.

Elevated Uranium and Thorium can be seen from the sampled mineralisation due to discrete uranothorite grains. Additionally, minor phases include: britholite, end-member kamisite, apatite and allanite.

Next steps

Currently, Lodestar attributes the sampled REE mineralisation to a REE-enriched metasomatic fluid that has mineralised a shear zone captured within the Virgin Mountain project. The total strike of the shear zone has been mapped as 5km in local geological publications. Previous work has identified the location of this structure at the surface within the Virgin Mountain project.

Upcoming work will focus on determining the extent and consistency of mineralisation along the strike of the identified structure. The team will return in April for a targeted exploration campaign.

Initial follow-up will involve compiling applicable geophysical data for pre-trip assessment, detailed targeted capture of the shear zone at the surface along the 5km regional mapping. The exploration team will aim to identify further outcropping mineralisation along this shear zone and determine any extensions that may exist under alluvial cover. This will provide the foundation for future drill planning and/or other ground-disturbing activities.

*To view tables and figures, please visit:
https://abnnewswire.net/lnk/AJNELV6L

About Lodestar Minerals Ltd

Lodestar Minerals Limited (ASX:LSM) (OTCMKTS:LSMLF) is an active critical metals, gold and base metals explorer. Lodestar's projects include the Los Loros Porphyry Cu-Mo-Au and the Three Saints IOCG projects in Chile, the 100% owned Ned's Creek Gold and Earaheedy projects in Western Australia, and the Virgin Mountain REE project in USA. 

   

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