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Lodestar Resources has signed a four-year option agreement to acquire the Los Loros Project in Chile, focusing on its copper-molybdenum porphyry system. The agreement, finalized on January 30, grants Lodestar's subsidiary Tesoro Andes access to eight mining concessions.

Lodestar will pay $30,000 over four years and $2.6 million upon exercising the option, with a 1.5% net smelter royalty to the vendor. Historical drilling has shown significant results, including 20 meters at 3.67 grams per tonne gold and 136 meters at 0.2% copper equivalent.

The exploration phase includes surface sampling and geophysical surveys starting this month, with drilling planned for April. Despite the acquisition, Lodestar's shares fell by 8.3%.