Lachlan Star Confirms Consistent High-Grade Gold Across Multiple Metres at New Waverley
Key Takeaways
- 1-metre PhotonAssay results at New Waverley confirm high-grade gold is consistent across multiple consecutive metres, with the announcement explicitly ruling out individual high-grade samples as the driver of the composite intercepts.
- The headline 1-metre intercepts include 7m @ 6.61g/t Au (including 2m @ 21g/t Au) and 13m @ 4g/t Au (including 3m @ 15.2g/t Au), superseding and in some cases improving on the previously reported 4-metre composite results.
- Two new holes — NWRC080 returning 12m @ 4.01g/t Au including 8m @ 5.77g/t Au, and NWRC079 returning 4m @ 3.31g/t Au — extend known mineralisation further down-plunge, with the system remaining open at depth.
- A 1,500-line-km high-resolution drone magnetic survey co-funded by the WA Government is already revealing prospective structural corridors beyond the currently drilled Waverley Pit area, with soil geochemistry results (~900 samples) also expected in September 2026.
- The next phase drilling programme is planned for late September to early October 2026, targeting extensions to known high-grade mineralisation in a district that has produced more than 6 million ounces of gold historically.
High-grade gold confirmed across multiple metres at New Waverley
Lachlan Star Limited (ASX: LSA) has confirmed consistent, multi-metre high-grade gold mineralisation at the Waverley Pit, New Waverley Gold Project, located approximately 16km northeast of Norseman in Western Australia’s Eastern Goldfields. The confirmation comes from 1-metre PhotonAssay results that validate previously reported 4-metre composite RC drill intercepts, with grades holding up at the finer resolution scale.
The headline intercepts from the 1-metre assay program include:
- 13m @ 4g/t Au from 46m, including 3m @ 15.2g/t Au from 52m (NWRC052)
- 7m @ 6.61g/t Au from 46m, including 2m @ 21g/t Au from 46m (NWRC051)
- 13m @ 3.14g/t Au from 50m, including 3m @ 11.1g/t Au from 55m (NWRC048)
- 8m @ 4.42g/t Au from 46m, including 5m @ 7g/t Au from 49m (NWRC050)
These are not incremental results layered on top of earlier figures. The 1-metre PhotonAssay results supersede the previously reported 4-metre composite intercepts and are the operative numbers going forward.
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What the 1-metre PhotonAssay results mean for New Waverley
The 1-metre PhotonAssay analysis provides greater resolution of the grade distribution within the previously reported composite intersections. PhotonAssay is a technique developed by CSIRO and the Chrysos Corporation that uses high-energy X-rays rather than chemical processes to determine gold content. It is non-destructive, analyses a significantly larger sample mass than conventional 50-gram fire assay, and has been thoroughly validated against fire assay benchmarks by ALS.
At New Waverley, the 1-metre results confirm that higher-grade gold occurs across multiple consecutive metres, not as isolated spikes within a broader, lower-grade interval. The announcement explicitly states the results show gold mineralisation is “not being driven by individual high-grade samples within the broader 4-metre composites.” That is the key distinction for investors: this is consistent mineralisation across width, which is what underpins resource estimation and supports interpretation of a structurally controlled, predictable gold system.
The table below compares the previously reported 4-metre composite results with the updated 1-metre PhotonAssay intercepts:
| Hole ID | Previous 4m Composite Result | 1m PhotonAssay Result | Gold Gram x Metre (g*m) | Status |
|---|---|---|---|---|
| NWRC052 | 16m @ 5.30g/t Au from 44m, incl. 4m @ 20.0g/t Au | 13m @ 4g/t Au from 46m, incl. 3m @ 15.2g/t Au from 52m | 52 | Supersedes composite |
| NWRC051 | 8m @ 5.37g/t Au from 44m, incl. 4m @ 10.25g/t Au | 7m @ 6.61g/t Au from 46m, incl. 2m @ 21.0g/t Au from 46m | 46.3 | Supersedes composite |
| NWRC050 | 8m @ 2.35g/t Au from 48m | 8m @ 4.42g/t Au from 46m, incl. 5m @ 7.0g/t Au from 49m | 40.3 | Supersedes composite |
| NWRC048 | 12m @ 3.11g/t Au from 52m, incl. 8m @ 4.50g/t Au | 13m @ 3.14g/t Au from 50m, incl. 3m @ 11.1g/t Au from 55m | 40.8 | Supersedes composite |
| NWRC044 | 8m @ 1.43g/t Au from 60m | 5m @ 2.25g/t Au from 61m | 11.3 | Supersedes composite |
| NWRC053 | 4m @ 0.83g/t Au from 32m | 6m @ 1.92g/t Au from 48m, incl. 2m @ 5.55g/t Au from 52m | 11.1 | Supersedes composite |
| NWRC042 | 4m @ 1.12g/t Au from 56m | 6m @ 0.84g/t Au from 54m, incl. 2m @ 2.1g/t Au from 57m | 5 | Supersedes composite |
| NWRC054 | 8m @ 0.53g/t Au from 32m | 4m @ 1.10g/t Au from 34m | 4.4 | Supersedes composite |
Mineralisation extends further down-plunge — and remains open
New intercepts push the high-grade envelope deeper
Beyond confirming the existing discovery, the program has also extended known mineralisation further down-plunge, with new 4-metre composite results from two additional holes:
- 12m @ 4.01g/t Au from 48m, including 8m @ 5.77g/t Au from 52m (NWRC080)
- 4m @ 3.31g/t Au from 52m (NWRC079)
Mineralisation remains open both down-plunge and at depth. Selective 1-metre re-split samples from these latest intervals have been submitted for PhotonAssay analysis, with results expected during September 2026.
Structural controls point to a predictable, scalable system
The geology at New Waverley is increasingly well-defined. The system is interpreted as a northeast-trending mineralised shear corridor hosting multiple high-grade quartz vein shoots with a consistent north-westerly plunge. That plunge direction is the critical factor: it gives the next drill phase defined, targetable positions rather than broad speculative step-outs, which represents a more de-risked exploration model.
Andrew Tyrrell, Chief Executive Officer
“These results, together with the latest drilling extending mineralisation further down-plunge, strengthen our view in the continuity and potential scale of the higher-grade zones at Waverley. The structural controls we have identified will remain a key focus for the next phase of drilling, as we continue to target these positions downplunge and across the broader project corridor.”
The regional context adds important scale to that interpretation:
- Known mineralised strike at New Waverley: approximately 400m confirmed, with potential continuity exceeding 800m
- The widths and grades at Waverley Pit are comparable to the North Royal mine (1.8Moz Au historical production) and Harlequin mine (800koz Au historical production) within the same goldfield
- New Waverley sits adjacent to Pantoro’s Norseman Gold Project, which holds a 4.6Moz Au Mineral Resource Estimate
- The Norseman district has produced more than 6 million ounces of gold historically
The structural predictability of the system — a consistent, gentle north-westerly plunge — means the exploration model is increasingly well-framed. The company is targeting further high-grade positions both down-plunge and along-strike, with the mineralised trend remaining open.
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Drone magnetics and next drill phase set the stage for broader discovery
High-resolution survey reveals prospective corridors beyond Waverley Pit
In parallel with drilling, Lachlan Star has completed a high-resolution drone magnetic survey covering the broader New Waverley Project. The approximately 1,500-line-km survey was flown at 25m line spacing and 35m height, and was co-funded through the WA Government’s Exploration Incentive Scheme (Venture 3 programme).
The survey delivers a material improvement in resolution over previously available magnetic data. Interpretation is ongoing, but the data is already highlighting a series of prospective structural corridors and positions extending beyond the currently drilled Waverley Pit area. The improved resolution will also allow the company to better map major shear corridors, subsidiary structures, and lithological contacts across the broader tenement package. Magnetic data will be integrated with drilling results, geological mapping, and soil geochemistry to refine and prioritise targets for the next exploration phase.
What’s next — drilling to resume late September/early October
The near-term pipeline of catalysts is well-defined:
- 1-metre PhotonAssay re-split results from NWRC079 and NWRC080, expected September 2026
- Approximately 900-sample soil geochemistry results from the gridded sampling programme, expected September 2026
- Next phase drilling programme, planned for late September to early October 2026 (subject to rig availability), targeting extensions to known high-grade mineralisation and additional priority targets across the broader structural corridor
- High-resolution gravity survey completed August 2026 across M63/673, with results being integrated into ongoing geological and structural interpretation
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