Lachlan Star’s maiden drilling at New Waverley confirms a high-grade Norseman-style gold system, prompting an expanded 4,000m drilling campaign to test a mineralised corridor with over 800m strike potential.
- Maiden drilling reveals multiple high-grade gold intercepts
- Mineralisation linked to Norseman-style quartz veins and sulphides
- Expanded 4,000m RC drilling program commenced to test scale
- Extensive soil sampling and drone magnetics refine targets
- Company holds $6.52 million cash post $7.47 million placement
High-Grade Gold Confirmed in Maiden Drilling at New Waverley
Lachlan Star Limited (ASX:LSA) has delivered a compelling start to exploration at its New Waverley Gold Project in Western Australia’s Norseman Goldfield, confirming the presence of a high-grade Norseman-style gold system. Maiden diamond drilling, completed in early April, returned multiple significant intercepts, including standout hits such as 6.15 metres at 8.6 grams per tonne (g/t) gold and 7.6 metres at 2.65 g/t gold, with visible gold observed in several holes.
The mineralisation is hosted within laminated quartz veins accompanied by sulphide minerals like pyrite and pyrrhotite, characteristic of the Norseman district’s prolific deposits. Geological logging revealed a north-northeast trending shear corridor with stacked lode architecture, interpreted to extend over 400 metres between the Waverley Pit, Trial Pit, and Baker Boys prospects, and potentially continuing for another 400 metres to the south, suggesting an open strike length exceeding 800 metres.
Expanded Drilling Program Targets Continuity and Scale
Buoyed by these results, Lachlan Star has launched a substantial 4,000-metre Reverse Circulation (RC) drilling program, which began in July. This follow-up campaign aims to increase drill density around known high-grade zones, test down-plunge continuity of high-grade shoots, and explore additional structural positions within the broader mineralised shear corridor.
The program will also evaluate strike extensions between the key prospect areas and test newly identified targets, with the goal of delineating the full extent of the mineralised system. The geological model refined by the maiden drilling supports a consistent north-westerly plunge controlling the higher-grade shoots, a structural feature the company is prioritising in its ongoing exploration.
Complementary Exploration Enhances Targeting
Alongside drilling, Lachlan Star completed an extensive soil geochemistry program covering over 4 kilometres of the interpreted south-westerly extension of the mineralised corridor. Approximately 900 soil samples were collected on systematic grids to detect subtle geochemical anomalies that could indicate additional mineralisation.
Further refining the exploration approach, a high-resolution drone magnetic survey covering 1,500 line kilometres was flown post-quarter. This dataset is expected to improve the definition of major shear zones and subsidiary structures that control gold mineralisation, a critical factor given the complex structural setting of the Norseman Goldfield.
Financial Position Supports Aggressive Exploration
Lachlan Star raised $7.47 million in a two-tranche placement completed during the quarter, providing the financial firepower to accelerate exploration at New Waverley and its Killaloe Gold Project. At quarter-end, the company held cash reserves of $6.52 million, after spending nearly $1 million on exploration activities.
Corporate costs remained tightly managed at $172,000 for the quarter, while payments to related parties amounted to $45,000, reflecting existing remuneration arrangements. No mining production or development activities occurred during the period.
New Waverley Positioned Among Significant Norseman Deposits
New Waverley’s geological and structural characteristics align with other major Norseman Goldfield deposits, such as Pantoro Gold’s Norseman Project (4.6 million ounces resource) and historical mines like North Royal and Harlequin. The project’s shallow historical workings and the recent discovery of near-surface high-grade gold mineralisation underscore its exploration potential.
With follow-up drilling underway and complementary geochemical and geophysical programs advancing, Lachlan Star is poised to unlock further insights into this promising gold system. The coming months promise a steady flow of assay results and geological updates as the company tests the scale and continuity of its New Waverley discovery.
Bottom Line?
Lachlan Star’s New Waverley discovery is evolving rapidly, but the true scale and economic viability hinge on upcoming drill results and resource definition.
Questions in the middle?
- Will follow-up drilling confirm the down-plunge continuity of high-grade shoots?
- How will soil geochemistry and drone magnetics refine future drill targets?
- What timeline does Lachlan Star envisage for a maiden resource estimate at New Waverley?