- High-grade gold results received from maiden 13-hole DD program
- Results add to the recently reported high-grade intercepts
- Corridor remains open in all directions
- Potential strike continuity exceeding 800m
Lachlan Star (ASX:LSA) has obtained further high-grade assay results from holes completed as part of its maiden diamond drilling program at the New Waverley gold project in WA.
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CEO, Andrew Tyrrell said the results from the 1,031m program continue to support the company’s interpretation of a continuous, structurally controlled high-grade gold system.
“These latest results continue to build our confidence in the discovery potential of New Waverley. With each round of assays, the consistency of the mineralisation is becoming clearer, and the system is behaving in line with our geological expectations,” he said.
“It is encouraging to see structure, alteration and grade aligning within the same corridor. While still early in the program, the continuity between the historical areas is an important step in demonstrating scale. It points to a connected system with multiple higher-grade positions developing within it.
“With further assays still to come and the next phase of RC drilling already being prepared, we see New Waverley evolving into a compelling and technically coherent gold system with clear growth potential.”
Significant new intercepts include 7.6m at 2.65 grams per tonne (g/t) from 18.5m, including 0.7m at 27.97g/t from 24.3m and 1.6m at 9.83g/t from 44.5m, including 0.6m at 24.91g/t from 45.5m.
The maiden program targeted mineralisation beneath high-grade rock chip results and previously reported shallow historical drill intercepts within and adjacent to the Trial Pit and Waverley Pit areas.
Planning is well advanced for a follow-up RC drilling program comprising both in-fill and step-out drilling.
The upcoming program is designed to increase confidence in the potential of the currently defined 400m mineralised shear corridor, while also testing interpreted extensions to the north and south.
Due to high demand and congestion at the laboratory in the photon assay stream, assays from the remaining three diamond drilling holes have been delayed until late June and will be incorporated into ongoing geological and structural modelling to further refine the interpretation of the New Waverley gold system.
In parallel, the company is advancing evaluation of the historical mine dumps, with a targeted aircore drilling program in progress to assess their grade, continuity and potential economic significance.
LSA is down 6.06% to 15.5¢. Mkt cap $60.77M.
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