The playbook — silver · October 14, 2026
Silver repeats in two holes at Black Diamond, Nevada
Lodestar's maiden drill program hits ~79–86 g/t silver over 12–15 m in two holes that back each other up — and the stock gained a third.
Lodestar Metals drilled its first-ever program at the Black Diamond target in Nevada and hit silver. The headline hole, LSRC13, cut 15.2 metres grading 79.5 grams of silver per tonne — and inside that, a 1.5-metre slug running 385 grams per tonne. The company quotes those numbers as “silver-equivalent” (102.2 and 431.1 g/t), a blended figure that folds in gold, but the silver-only grades are the ones that stand on their own. This is an exploration result, not a resource — there is no prior resource at Gold Run, and the whole thing is early.
What gives the result analytical weight is repetition. A second hole, LSRC14, hit 12.2 metres of 85.6 grams per tonne silver with a 3-metre core of 263 grams — and LSRC13 and LSRC14 sit about 94 metres apart, with their mineralized intervals roughly 41 to 56 metres below surface. Two holes backing each other up means more than one lucky hit. The mineralization stays shallow and open. The team is led by CEO Lowell Kamin, whose background is capital markets — analyst, fund manager, investment banker — and who helped merge Eagle Hill Exploration into Osisko Mining in 2015; the company was formerly Lodestar Battery Metals and pivoted from battery metals to Nevada gold and silver. The stock gained a third of its value over three months while silver fell 3.3% and the junior silver index sat flat — a company-specific move, not a sector tide.
Now the caveats, because they matter. True widths are given only as a blanket 85–95% of core length, not modeled hole by hole. The silver-equivalent math leans on an unusually high US$4,300-per-ounce gold price and assumes 100% recovery with no recovery testwork done yet — so treat “AgEq” with care. The company claims an 850-metre strike, but that length is a geophysics-and-geochemistry interpretation, not drilled continuity: grades fade fast off the center, with LSRC16 and LSRC10 returning routine numbers. Rock grab samples up to 3,307 grams per tonne are selective by the company’s own statement. What to watch: assays from two remaining holes (312 metres) at the Crown North target, still pending, and the company says it plans deeper drilling at Black Diamond to test depth and stacked structures.