Lachlan Star (ASX:LSA) has entered into a binding agreement to acquire a 90% interest in the high-grade New Waverley Gold Project, marking a strategic expansion into Western Australia’s prolific Norseman Mining District.
The acquisition places Lachlan Star in a prime geological position along the northeastern continuation of the Woolyeenyer Formation—the same host for Pantoro Gold's multi-million-ounce deposits located just 16km to the southwest.
The project’s potential is underscored by historical high-grade intercepts, including a standout 0.65m at 77.3g/t Au and 4m at 13.83g/t Au.
The results suggest significant gold mineralisation remains beneath and along strike from the existing Waverley Pit.
To spearhead this new chapter, the company has appointed Colin McIntyre—former Mine Manager at Kambalda—as a Technical Advisor, bringing invaluable local expertise to the team.
The company plans to launch a reverse circulation and diamond drilling campaign this March to evaluate and extend known mineralisation.
The team will conduct structural mapping of quartz reefs and assess historical surface stockpiles.
At the time of reporting, Lachlan Star’s share price was $0.090.