Lunnon Metals Limited (ASX:LM8) Reports Positive Results from Lady Herial
Drilling Results Confirm Mineralisation Model
Lunnon Metals Limited (ASX:LM8) has announced further successful results from its drilling program at the Lady Herial prospect, part of the Kambalda Gold & Nickel Project (KGNP). Significant results include a notable 20m at 2.44 g/t Au, 7m at 6.67 g/t Au, and an impressive 1m at 26.30 g/t Au, confirming the current mineralisation model.
The latest infill and extensional reverse circulation (RC) drilling completed across the prospect has validated existing mineralisation boundaries and grades. The results include multiple high-grade intercepts beyond the current interpretations, notably with the deepest hole revealing 9m at 2.47 g/t Au from 50m downhole.
Project Progress and Strategic Outlook
The latest drilling program, initiated in early 2024, aimed to establish near-surface gold mineralisation conducive to open pit mining. These results reinforce the Company’s strategy of leveraging existing regional infrastructure, including nearby processing facilities owned by Gold Fields Limited, to capitalise on the current high gold price environment.
Edmund Ainscough, Managing Director of Lunnon Metals, stated, “We are finishing the 2024 year strongly having achieved a number of key milestones. Our focus remains on efficiently defining the near-surface gold mineralisation at Lady Herial while maintaining a broader vision for future opportunities in this prolific gold camp.”
The Company is also preparing for a diamond drilling (DD) program targeting deeper structures at Defiance West, set to commence in early 2025.
Future Work and Resource Estimation
An updated assessment of the gold mineralisation at Lady Herial is planned for January 2025, which will guide potential resource estimates and subsequent exploration programs. The drilling results have opened new opportunities that will be further investigated in upcoming drilling campaigns.
Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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