Visible Gold and 56g/t Assays Spotlight New Waverley’s High-Grade Gold Potential

Visible Gold Confirms High-Grade Potential

Lachlan Star Limited has reported compelling exploration results from its recently acquired New Waverley Gold Project in Western Australia's Norseman district. Rock chip sampling from the floor of the Trial Pit has revealed visible fine gold within cross-cutting quartz reef structures, a hallmark of high-grade mineralisation. Assays from these samples returned impressive grades, including a standout 56 grams per tonne (g/t) gold at the intersection of north-south and west-east reefs.

These findings reinforce the company's geological model that interprets the New Waverley area as hosting a Norseman-style quartz reef gold system, known for its high-grade shoots. The mineralised trend identified spans approximately 400 metres, with geological mapping suggesting potential extensions up to 800 metres along strike.

Historical Drilling Gaps and Upcoming Drilling Program

Importantly, Lachlan Star highlighted that historical drilling was conducted along west-east traverses and did not systematically test the critical structural intersections now believed to control gold mineralisation. This gap presents a significant opportunity for new discoveries. To address this, the company plans to mobilise a diamond drill rig imminently to commence a systematic drilling program targeting these priority structural intersections within the New Waverley corridor.

The initial drilling phase will focus on confirming historical high-grade intercepts, understanding the continuity and orientation of quartz reefs, and testing for repeat high-grade zones both along strike and at depth. Following diamond drilling, a follow-up reverse circulation program is planned to more comprehensively test the approximately 400-metre strike extent of the quartz reef system.

High-Grade Gold in Historical Dumps

Beyond in-situ sampling, Lachlan Star conducted a grid sampling program across historical waste and paddock dumps adjacent to the pits. Results were encouraging, with multiple samples grading above 20g/t gold and a peak assay of 58.6g/t. These dumps, lacking detailed historical records, are now under evaluation through metallurgical testing and further sampling to assess their economic potential.

The presence of highly mineralised quartz reef material in these dumps aligns with historical selective mining practices targeting high-grade veins. Lachlan Star has also completed drone photogrammetry to generate detailed digital elevation models, aiding volumetric and grade distribution analyses of the dump material.

Strategic Location and Exploration Upside

New Waverley is strategically located approximately 16 kilometres northeast of Norseman and adjacent to Pantoro Gold Limited’s Norseman Gold Project, which boasts a 4.6 million ounce gold resource. The geological setting and mineralisation style at New Waverley are analogous to other significant Norseman district deposits, such as the North Royal and Harlequin mines, which have produced substantial gold volumes historically.

Lachlan Star’s CEO, Andrew Tyrrell, expressed confidence in the project’s potential, emphasising the significance of visible gold and high-grade assays in validating their geological model. The upcoming drilling campaign is poised to unlock further insights into the mineralised system and potentially expand the resource base.