Lachlan Star Limited (ASX: LSA) has announced the completion of its acquisition of the New Waverley Gold Project in the Norseman region of Western Australia, as initially announced on 4 February 2026. Lachlan Star Limited is focused on the discovery of gold and copper resources across a portfolio of high-potential exploration projects located in Western Australia and central New South Wales. With the finalisation of the acquisition, the Company now holds a 90% interest in the highly prospective gold project.
The company has satisfied the agreed consideration of $150,000 cash and issued 12.5 million fully-paid ordinary shares to the vendor. Fifty percent of these shares are subject to voluntary escrow for a period of 12 months. The New Waverley Gold Project is situated within the prolific Norseman district.
According to Lachlan Star’s Chief Executive Officer, Andrew Tyrrell, the completion of this transaction marks a significant milestone for the company. He highlighted the potential for a Norseman-style high-grade quartz reef system at New Waverley, which has been reinforced by recent mapping, rock chip sampling, and field validation by the Lachlan Star team.
The company is preparing to commence a maiden diamond drilling program at the site next week. The program will target key structural positions and extensions to mapped gold-rich quartz veins at Trial Pit, as well as open high-grade intercepts identified in historical drilling beneath Waverley Pit, according to the ASX announcement.
