Lachlan Star Limited (ASX: LSA), a company focused on discovering gold and copper resources across Western Australia and New South Wales, has finalised the acquisition of the New Waverley Gold Project in the Norseman region of Western Australia. This follows the initial announcement made on 4 February 2026. The acquisition secures Lachlan Star a 90% interest in the highly prospective gold project.
The company has satisfied the acquisition terms by paying $150,000 in cash and issuing 12.5 million fully-paid ordinary shares to the vendor. Fifty percent of these shares are subject to a voluntary escrow period of 12 months. With the acquisition now complete, Lachlan Star is poised to commence its maiden diamond drilling program at the New Waverley Gold Project next week.
Andrew Tyrrell, CEO of Lachlan Star, stated that the New Waverley transaction is an important milestone, securing ownership of a highly prospective gold project within the Norseman district. Recent work by the Lachlan Star team has refined the geological model, highlighting the potential for a Norseman-style high-grade quartz reef system. This work has enabled the prioritisation of drill targets, with the upcoming program focused on testing key structural positions and extensions to gold-rich quartz veins at Trial Pit.
The drilling program will also target open high-grade intercepts identified in historical drilling beneath Waverley Pit. The company believes it is well-placed to advance its exploration strategy and progress its next phase of growth. The ASX announcement was authorised for release by the Board of Lachlan Star Limited.
