ΔE 7.5, close: similar, with a visible difference side by side. Light Rust is a little lighter, more muted than Old Rust.
Usually, if you are not matching paint already on the model. Close match (ΔE 8). Light Rust is a little lighter, more muted than Old Rust.
The same difference applies the other way round: Old Rust is a little darker, more saturated.
ΔE is the colour difference between our two swatch estimates: under about 6 is close, over about 15 is loose. Real paints also differ in finish, coverage and how they thin, so test before you commit.
See Old Rust on the colour wheel See Light Rust on the colour wheel
All matches: Old Rust equivalents · Light Rust equivalents