Lachlan Star has announced the commencement of the initial drilling programme at the New Waverley Gold Project in Western Australia (WA).
Situated in the gold-rich Norseman region of the Eastern Goldfields, the project is focused on diamond drilling at historical sites including the Waverley and Trial Pits.
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The company has identified gold-bearing quartz reef mineralisation of high grade, which remains open down-dip, down-plunge and along strike.
Historical drill intercepts targeted for follow-up include a section of 4.1m at 12.53 grams per tonne (g/t) gold from 59.7m, with a notable 0.65m at 77.3g/t gold from 63.1m.
Another significant intercept is 4m at 13.83g/t gold from 16m, including 1m at 53g/t gold from 19m.
Additional targets include 2m at 10.34g/t gold from 24m, and 8m at 2.71g/t gold from 18m, featuring 1m at 20.05g/t gold from 23m.
Upon completion of the 1,000m diamond drilling programme and receipt of assays, a subsequent 2,000m reverse circulation (RC) drilling phase is scheduled.
This will target a mineralised corridor of approximately 400m between the Waverley and Trial Pits and the Baker Boys Prospect.
The current diamond drilling campaign is expected to finish in around three weeks, pending assay analysis.
Lachlan Star CEO Andrew Tyrrell said: “Commencement of drilling at New Waverley represents a key milestone as we move to systematically test the high-grade quartz reef corridor identified at the project.
“The presence of historical drill intercepts, recent rock chip results and mineralisation remaining open in multiple directions provides confidence in the potential for the project to deliver further high-grade results.
“With diamond drilling now under way and RC drilling to follow, our focus is on confirming the grade and continuity of mineralisation within the defined ~400m corridor and evaluating the project’s broader scale potential. I look forward to providing shareholders with updates as results are received over the coming weeks.”
Lachlan Star finalised the purchase of the New Waverley Gold Project last month.
The acquisition involved a cash payment of A$150,000 ($103,001) and the issuance of 12.5 million fully paid ordinary shares to the vendor, with half of these shares subject to a 12-month voluntary escrow.
