Lachlan Star has returned initial 1-metre PhotonAssay results from the Waverley Pit area at the New Waverley Gold Project near Norseman in Western Australia, confirming consistent high-grade gold mineralisation from previously reported composite intervals.

Significant new intercepts include 13 metres at 4 grams per tonne gold from 46 metres, including 3 metres at 15.2 grams per tonne gold from 52 metres in hole NWRC052, and 7 metres at 6.61 grams per tonne gold from 46 metres, including 2 metres at 21 grams per tonne gold in hole NWRC051. Additional highlights include 13 metres at 3.14 grams per tonne gold from 50 metres in hole NWRC048 and 8 metres at 4.42 grams per tonne gold from 46 metres in hole NWRC050.

The high-resolution assay data supersedes previous 4-metre composite sampling, confirming that the higher-grade mineralisation occurs across multiple consecutive metres within the targeted shear structure. The results support an interpretation of multiple mineralised quartz vein positions extending into surrounding sheared wallrock.

Lachlan Star also received composite assays from the Waverley Pit area that extend known mineralisation down-plunge. New intercepts include 12 metres at 4.01 grams per tonne gold from 48 metres, including 8 metres at 5.77 grams per tonne gold from 52 metres in hole NWRC080, and 4 metres at 3.31 grams per tonne gold from 52 metres in hole NWRC079. Selected 1-metre re-splits from these intervals have been submitted for analysis.

The company acquired a 90% interest in New Waverley in March 2026 through a $150,000 cash payment and 12.5 million shares. Operations are supported by a $7.47 million share placement completed at $0.12 per share.

Regional exploration is aided by a completed ~1,500-line-kilometre high-resolution drone magnetic survey. Co-funded by the Western Australian government, the survey data is currently being interpreted to map major shear corridors and identify targets beyond the Waverley Pit.

Final assay results, including 1-metre re-splits from the latest Waverley Pit composite intersections, are expected during September 2026. Lachlan Star has scheduled the next phase of drilling at New Waverley to commence in late September to early October, subject to rig availability.

"These 1-metre results are another excellent outcome for New Waverley, confirming the broad high-grade intersections previously reported represent consistent mineralisation across multiple metres. 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." — Andrew Tyrrell, Chief Executive Officer

Read the full announcement: 1-metre assays confirm high-grade gold discovery