Lachlan Star (ASX: LSA) has been granted a trading halt by the ASX pending an announcement of a Resource upgrade, with the company placed in pre-open.
The company is focused on expanding the resources at its CMD Gold Mine in Chile, while also upgrading to higher confidence categories.
The company is already having success in this area, highlighted by the more than fourfold increase in the Toro deposit Indicated Resource to 348,000 gold ounces in January.
Improving the potential at Toro, which also hosts an Inferred Resource of 135,000 ounces, the resource is open in all directions.
The trading halt will be in effect until an announcement is made to the market or no later than the start of trading on Wednesday 29 February.