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Lachlan Star Limited (ASX:LSA)

ALERT: Price-sensitive ASX Announcement for LSA
Current share price for LSA : $0.135 -0.045 (-25%)+
Announcement
Release
25 May 2026 8:16AM
Price at Release
$0.180
Full Release
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Summary
Lachlan Star Limited has reported promising high-grade gold assay results from its maiden diamond drilling program at the New Waverley Gold Project, located in the Norseman mining district of Western Australia. The drilling has confirmed the presence of significant gold mineralisation within 'Norseman-style' laminated quartz veins in a north-northeast trending shear corridor. Noteworthy intercepts were 6.15 meters at 8.6g/t gold, indicating the continuity of high-grade deposits at shallow depths. These results have bolstered confidence in the project’s potential, leading to the planning of a 2,400-meter reverse circulation drilling program aimed at further exploring and extending known mineralisation. The New Waverley Project encompasses historical workings, highlighting potential for additional unexplored mineralisation.
Key Points
  • Lachlan Star Limited has announced initial high-grade gold assay results from its maiden diamond drilling program at the New Waverley Gold Project.
  • Significant gold intercepts include 6.15m at 8.6g/t Au from 46.9m, including 2.9m at 17.7g/t Au.
  • The mineralisation is associated with 'Norseman-style' laminated quartz veins and is hosted within a north-northeast trending shear corridor.
  • The initial results have confirmed the continuity of high-grade quartz vein-hosted gold mineralisation at shallow depths, with mineralisation remaining open in all directions.
  • A follow-up reverse circulation (RC) drilling program of approximately 2,400 meters is planned to commence, aimed at infill and extending known mineralisation.
  • The New Waverley Gold Project is situated in the Norseman mining district of Western Australia, covering a tenement package of approximately 40 square kilometers.
  • The project includes historical workings which were shallow, indicating potential for additional mineralised positions untested at depth.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.