Lachlan Star Maps 4km Gold Corridor at New Waverley Ahead of October Drilling
Key Takeaways
- Soil geochemistry and drone magnetic data have defined multiple coherent gold-in-soil anomalies across a 4km+ NNE-SSW structural corridor at Lachlan Star's New Waverley Gold Project, materially expanding the exploration footprint beyond the Waverley and Trial Pit areas.
- Individual anomaly footprints extend up to approximately 1km along strike with peak gold values exceeding 4x background, and none of these regional targets have yet been tested by drilling.
- New Waverley sits within the Woolyeenyer Formation — the same host unit as Pantoro Gold's 4.6Moz Au Norseman Gold Project and historical producers North Royal (1.8Moz Au) and Harlequin (800koz Au) — in a district with over 6 million ounces of total production.
- The tenements have been effectively unscreened by modern exploration methods for almost 40 years, meaning the current soil and magnetic datasets represent a genuine first look at this ground with contemporary tools.
- RC drilling is scheduled to commence late October 2026, targeting both the new regional soil anomaly positions and follow-up drilling at the Waverley Pit area, with more than 1.2km of untested strike remaining open on the long section.
Camp-scale gold potential emerges across 4km corridor at New Waverley
Soil geochemistry and high-resolution drone magnetic data have together identified camp-scale gold potential at Lachlan Star Limited (ASX: LSA) New Waverley Gold Project, located in the Norseman region of Western Australia. The results, announced on 5 October 2026, define multiple broad, coherent gold-in-soil anomalies across a 4km+ prospective NNE-SSW-trending structural corridor, materially expanding the exploration footprint beyond the Waverley and Trial Pit areas where high-grade RC drilling results were confirmed and reported on 12 August 2026.
Individual anomaly footprints extend up to approximately 1km along strike, with peak gold values exceeding 4x background levels. These anomalies remain largely untested by drilling, meaning the structural corridor represents a substantial pipeline of priority targets ahead of imminent drilling.
The high-grade RC drilling results confirmed in August 2026 established the Waverley and Trial Pit areas as the anchor for this expanded exploration corridor, with the new soil and magnetic datasets now extending the prospective footprint well beyond those initial intercepts.
CEO Andrew Tyrrell
“These results support our strategy of building scale and resource potential at New Waverley… support our view that New Waverley is emerging as a camp-scale gold system consistent with the large mineralised systems elsewhere in the Norseman district.”
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What “camp-scale” gold means for investors
A camp-scale gold system refers to a mineralised district capable of hosting multiple high-grade deposits within a single, connected structural corridor. Rather than a single deposit, the geological architecture supports several high-grade centres spread across kilometres of strike, which is where the resource-growth potential lies.
Context matters here. The Norseman district has produced more than 6 million ounces of gold, and neighbouring Pantoro Gold’s Norseman Gold Project holds a 4.6Moz Au Mineral Resource Estimate. Within that same district, the North Royal mine produced 1.8Moz Au historically and the Harlequin mine produced 800koz Au, both representing the style of mineralisation being targeted at New Waverley.
What makes this particularly significant for discovery upside is the tenure history. These tenements have been effectively “locked up” and not subjected to systematic modern exploration screening for almost 40 years. The application of modern soil geochemistry and high-resolution drone magnetics is, in effect, seeing this ground with fresh eyes.
How New Waverley fits the Norseman template
The Woolyeenyer Formation is the key stratigraphic host unit across the Norseman district, and New Waverley’s ~40km² tenement package sits squarely within it. Mineralisation at the project is interpreted as a classic “Norseman-style” system, characterised by high-grade gold-bearing quartz reefs hosted within a north-northeast trending mineralised shear corridor, influenced by cross-cutting west-east structures. Recent drilling has confirmed that gold concentrates within multiple discrete, higher-grade quartz vein shoots within that broader shear corridor, providing a predictive geological framework for targeting additional high-grade positions both down plunge and along strike.
The geological model underpinning New Waverley was validated by assay results confirming that gold concentrates within discrete, higher-grade quartz vein shoots inside the broader shear corridor, which is the same predictive framework now being applied to prioritise the untested regional targets.
Soil and magnetic data — what the results show
Two datasets are working together to build the camp-scale interpretation. The recently completed soil geochemistry programme defined the gold-in-soil anomaly pattern, while the new EIS co-funded high-resolution drone magnetic data revealed the underlying structural architecture. Critically, the soil anomalies coincide with favourable shear structures interpreted from the magnetic data, and that alignment underpins confidence in the structural corridor interpretation.
Transported cover across the project is interpreted to be only a few metres thick. This means the gold-in-soil response is considered likely to reflect underlying bedrock geochemistry rather than a transported signal, which adds weight to the interpretation that these anomalies reflect genuine bedrock gold mineralisation below.
Key characteristics of the anomaly suite:
- Multiple broad, coherent anomalies across a 4km+ prospective trend
- Individual footprints extending up to approximately 1km along strike
- Peak gold values exceeding 4x background
- A clear, recurring pattern consistent with the periodicity seen in other Norseman district systems
- Anomalies remain largely untested by drilling
| Project | Location | Tenement Area | Known Strike | Structural Corridor Extent |
|---|---|---|---|---|
| New Waverley Gold Project | ~16km NE of Norseman, WA | ~40km² | ~400m confirmed | 4km+ identified |
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Drilling to commence this month — what comes next
The immediate catalyst is clear. Lachlan Star has secured a drill contractor for a staged Reverse Circulation (RC) drilling programme scheduled to commence in late October 2026. The programme is two-pronged: first-pass testing of the new regional soil anomaly targets, and follow-up drilling of high-grade gold mineralisation in the Waverley Pit area.
Beyond the current target inventory, the company is also designing further soil sampling programmes to screen strike extensions to the northeast onto the newly granted 100%-owned EL 63/2517, as well as other areas of interest identified by drone magnetics across Mining Leases M63/673 and M63/678 and the greater exploration licence of E63/2167.
The next steps in sequence:
- RC drilling commences late October 2026, targeting both regional soil anomaly targets and Waverley Pit follow-up
- Further soil sampling programmes are being designed for EL 63/2517 and other areas generated by drone magnetics across ML 63/673, ML 63/678 and EL 63/2167
- Continued systematic soil screening to expand coverage across remaining tenure
For investors tracking near-term news flow, the setup is material. The long section through the New Waverley structural trend shows more than 1.2km of untested strike remaining open, and soil anomalies continue south for approximately 4km. Multiple priority targets, none drilled, with drilling expected to begin within weeks.
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