Killaloe Drilling Yields Multiple Gold Intercepts; North Cobar Copper Program Underway
Lachlan Star Limited reports promising maiden drilling results at its Killaloe Gold Project in Western Australia and initiates copper-gold drilling at North Cobar, NSW, while securing permits for further Basin Creek exploration.
- Successful maiden RC and aircore drilling at Killaloe reveals multiple new gold-bearing structures
- Maiden 4,000m RC drilling commenced at North Cobar targeting high-priority copper-gold anomalies
- Strong IP chargeability anomaly identified at Basin Creek with drilling permits approved for follow-up
- Company expands exploration footprint with new tenement applications in Western Australia
- Cash reserves stand at $1.81 million with focused expenditure on exploration and corporate costs
Killaloe Gold Project, Maiden Drilling Delivers Encouraging Results
Lachlan Star Limited has successfully completed its inaugural drilling campaign at the Killaloe Gold Project near Norseman, Western Australia. The program comprised 12 reverse circulation (RC) holes totaling 1,578 metres and 187 aircore (AC) holes for 6,383 metres, targeting five high-priority gold prospects including the historically significant Duke main gold trend. Early assay results have confirmed multiple shallow gold-bearing structures beyond the known trend, with notable intercepts such as 12 metres at 0.50 grams per tonne (g/t) gold from 8 metres and 8 metres at 0.84 g/t gold from 12 metres, including a higher-grade 4 metres at 1.25 g/t.
These findings suggest a broader and underexplored gold system, reinforcing the project's potential in a region renowned for major gold producers like Pantoro Limited and Gold Fields. Lachlan Star has also expanded its regional footprint by applying for two additional exploration licences, consolidating its position in this prospective greenstone belt.
North Cobar Copper-Gold Project, Maiden Drilling Underway
In New South Wales, Lachlan Star has initiated its maiden RC drilling program at the North Cobar Copper-Gold Project, a strategic move into one of Australia's most mineral-endowed provinces. The 4,000-metre program targets several high-priority copper-gold prospects along the structurally complex Rookery and Buckwaroon Faults, which host significant mines such as MAC Copper Ltd’s CSA Mine.
The drilling aims to test coincident induced polarisation (IP), gravity, and magnetic anomalies, with particular focus on the Percival and Galahad prospects. These targets exhibit strong chargeability anomalies indicative of sulphide mineralisation and hydrothermal alteration, analogous to known Cobar-style deposits. Results from this program, expected progressively, will be critical in validating the potential for new copper-gold discoveries in this frontier area.
Basin Creek Prospect, Advancing Copper Exploration
Lachlan Star continues to advance its copper-focused exploration at the Basin Creek Prospect in NSW, where previous drilling intersected significant copper sulphide mineralisation, including 79.2 metres at 0.5% copper and high-grade intervals up to 11.8% copper. The company has received regulatory approvals for a follow-up drill program designed to test a large, north-plunging chargeability anomaly that extends beyond current drilling.
This next phase represents a high-impact opportunity to expand the known copper footprint and further define the mineral system. The integration of geophysical data and historic results underpins a robust targeting model, positioning Basin Creek as a key asset in Lachlan Star’s portfolio.
Financial Position and Outlook
At the end of the June quarter, Lachlan Star held cash reserves of $1.81 million. The company’s expenditure during the period was primarily directed towards exploration and evaluation activities ($0.576 million) and administrative and corporate costs ($0.146 million). There were no mining production activities during the quarter, consistent with Lachlan Star’s focus on exploration and resource definition.
With a solid regional footprint spanning multiple tenements in Western Australia and New South Wales, Lachlan Star is well positioned to leverage its early drilling successes. The pending assay results from Killaloe and ongoing programs at North Cobar and Basin Creek will be pivotal in shaping the company’s next steps.
Bottom Line?
Lachlan Star’s maiden drilling success and strategic exploration advances set the stage for potential resource growth, with upcoming assay results and follow-up programs poised to define the company’s trajectory.
Questions in the middle?
- Will the pending assay results from Killaloe confirm a significant new gold resource?
- How will the maiden North Cobar drilling results influence Lachlan Star’s copper exploration strategy?
- What are the timelines and funding plans for advancing Basin Creek’s follow-up drilling and broader exploration?
