Lachlan Star Confirms Emerging High-Grade Gold Discovery at New Waverley Project

Lachlan Star (ASX: LSA) has confirmed an emerging high-grade gold discovery within the Waverley Pit area of its New Waverley project in Western Australia with strong initial results in a follow-up reverse circulation (RC) drilling campaign.

Drilling of 15 holes for a total 4,570 metres targeted down-plunge continuity and extensions of mineralisation identified through an earlier maiden diamond campaign.

That campaign returned a best assay of 6.15 metres at 8.6 grams per tonne gold from 46.9m including 2.9m at 17.7g/t while providing data on the geometry and controls of the broader system to inform follow-up targeting.

Best assays to date have been 16m at 5.3g/t gold from 44m including 4m at 20g/t from 52m; 8m at 5.37g/t gold from 44m including 4m at 10.25g/t from 44m; 12m at 3.11g/t gold from 52m including 8m at 4.5g/t from 52m; and 8m at 2.35g/t gold from 48m.

Shallow Shear Corridor

The early follow-up results reinforce the interpretation of a shallow mineralised shear corridor hosting high-grade quartz veins, with a consistent northwest-plunging control to higher-grade mineralisation that remains open in all directions.

The follow-up program exceeded the original program following positive field observations of quartz veining and sulphide mineralisation across the full 400m of currently defined strike.

Assays for the remaining RC holes and selective 1m re-splits from mineralised intervals are expected over the next six weeks, and will be incorporated into the evolving geological and structural model for New Waverley.

The company said its focus is now on “defining the continuity, geometry, and potential scale of this emerging high-grade gold system.”

Geological Model Validated

Chief executive officer Andrew Tyrrell said the initial reverse circulation assays support the geological model being developed at New Waverley.

“These outstanding results clearly show that we have a significant emerging high-grade gold discovery on our hands,” he said.

“Importantly, we are beginning to see consistency in the geology and structural controls across the broader system.”

“The combination of these shallow high-grade intersections, extensive quartz veining and sulphide mineralisation together with emerging structural controls gives us increasing confidence that New Waverley hosts a significant mineralised system containing multiple high-grade positions.”

“We expanded the RC program on the strength of what we were seeing in the field, and these first assays vindicate that decision.”