Lachlan Star Confirms Emerging High-Grade Gold System at New Waverley

Shallow High-Grade Gold Intercepts Reinforce Discovery

Lachlan Star Limited (ASX:LSA) has delivered a compelling set of initial assay results from its follow-up reverse circulation (RC) drilling at the New Waverley Gold Project near Norseman, Western Australia. The standout intercepts include 16 metres at 5.3 grams per tonne (g/t) gold from 44 metres, featuring a high-grade 4 metres at 20 g/t (NWRC052), alongside several other broad, shallow zones exceeding 2 g/t Au. These results confirm the presence of a significant high-grade gold system hosted within a shallow mineralised shear corridor.

The follow-up program, originally planned for 4,000 metres, was extended to 4,570 metres after encouraging field observations of quartz veining and sulphide mineralisation over the full 400-metre strike length. The shallow nature of the mineralisation (<55m vertical depth) combined with the grades and consistent northwest-plunging structural controls, suggest multiple stacked high-grade quartz vein shoots within a northeast-trending shear corridor.

Geological Model Gains Confidence from Drilling

Chief Executive Officer Andrew Tyrrell emphasised the validation these results provide for the geological model underpinning New Waverley. The combination of broad, high-grade intercepts and structural continuity across the strike length is bolstering confidence that the project hosts a sizeable mineralised system with multiple high-grade positions.

The initial RC drilling targeted down-plunge extensions of high-grade shoots identified in the maiden diamond drilling campaign, which had already returned notable intercepts such as 6.15m at 8.6 g/t Au including 2.9m at 17.7 g/t Au. The latest results reinforce the interpreted plunge control and geometry, with ongoing analysis expected to refine the grade distribution further through selective 1-metre re-splits submitted for PhotonAssay analysis.

Expanding Exploration Pipeline and Regional Context

Beyond drilling, Lachlan Star is integrating a suite of geophysical and geochemical datasets to advance exploration targeting. A recently completed drone magnetic survey and a planned high-resolution gravity survey will complement soil geochemistry results expected in August, aimed at evaluating the southwestern extension of the mineralised corridor.

New Waverley sits strategically between Lachlan Star’s Killaloe Project and Pantoro Gold Limited’s Norseman Gold Project, which hosts a 4.6 million ounce resource. The geological setting is classic Norseman-style, with high-grade quartz reefs hosted in a mineralised shear corridor that remains open along strike and at depth. Regional analogues such as the North Royal and Harlequin mines provide a benchmark for the scale and grade potential being targeted.

Next Steps Focus on Continuity and Scale

With assay results from the remaining drill holes and PhotonAssay re-splits pending, Lachlan Star is poised to refine its geological and structural model for New Waverley. Planning is already underway for the next drilling phase, which will seek to test extensions of known high-grade mineralisation and new priority targets generated from integrated datasets.

While the initial results are promising, the full extent and continuity of the high-grade shoots remain to be defined. The coming weeks will be critical as the company incorporates new data to assess the potential scale and economic viability of this emerging gold system.