A method of mitigating lost circulation in a subterranean wellbore for oil and gas includes introducing basaltic particles and a carbonated mixture to the lost circulation zone of the subterranean wellbore, contacting the basaltic particles with the carbonated mixture, dissolving at least a part of the basaltic particles with the carbonated mixture, reacting divalent cations with the carbonate anions in the carbonated mixture to produce carbonate minerals, providing stimulus to the basaltic particles and the carbonated mixture, depositing at least a part of the carbonate minerals to fractures of the lost circulation zone, monitoring the reacting and depositing; and optionally repeating one or more of the aforementioned steps. A drilling system for oil and gas extraction includes basaltic particles, a carbonated mixture, at least one stimulus generator, and a mitigation device.