Lunnon Metals Ltd (ASX:LM8, OTC:LNMLF) welcomes the first infill and extensional drilling results, including 16 metres at 2.94 g/t gold, from the Lady Herial prospect in the Foster area of its Kambalda Gold & Nickel Project in the Eastern Goldfields of Western Australia.
As Lunnon progresses gold exploration in the Foster area, the Lady Herial prospect continues to deliver significant, near-surface, high-grade intercepts from the current infill and extensional reverse circulation (RC) program.
The latest results confirm the width and grade of the near-surface Upper Structure, while multiple intercepts were also recorded in a new footwall location below the Lower Structure.
Based on the multiple lodes identified to date, Lunnon believes that Lady Herial has the potential to develop into a significant mineralised gold system.
Second discovery
Lunnon managing director Edmund Ainscough said: "Lady Herial is firming as the company’s second discovery, following the high-grade, near-surface, Baker nickel discovery in 2022.
“The Lunnon Metals management team has extensive local geological and operating knowledge which maximises the chances of making discoveries that can be brought to production quickly.
“Our goal continues to be to define all the near-surface gold mineralisation as quickly as possible so that open pit evaluation can commence.”
Ainscough added, “Diamond drill holes in progress to 'twin' key recent RC drill results will also provide core for metallurgical and geotechnical testing, continuing the company’s record of rapid but diligent, high-quality technical advancement of its project opportunities.”
Significant intercepts
The following significant intercepts are reported above a 0.5 g/t gold cut-off, and highlighted on the map below:
- 16 metres at 2.94 g/t gold from 18 metres in FOS24RC_088;
- 16 metres at 1.80 g/t from 14 metres in FOS24RC_063;
- 15 metres at 1.35 g/t from 34 metres in FOS24RC_080;
- 2 metres at 3.15 g/t from 13 metres in FOS24RC_064;
- 1 metre at 5.81 g/t from 31 metres in FOS24RC_069; and
- 1 metre at 2.13 g/t from 19 metres in FOS24RC_060.
The current drilling campaign was designed to infill and also confirm previous positive intercepts from the last program.
RC hole FOS24RC_088 delivered 16 metres at 2.94 g/t — confirming the gold mineralisation previously recorded in FOS24RC_018 and FOS24RC_031 immediately 10 metres either side of it in a west-east direction.
Drill hole FOS24RC_080, below, represents a thicker-than-expected intercept on the Lower Structure and highlights the potential for the identified gold mineralisation to 'pinch and swell'. The 15 metres recorded is significantly thicker than the mineralisation intersected both up and down dip.
Intercepts recorded in RC holes FOS24RC_063, 064 and 069, represent modest to good grade gold mineralisation sitting in the footwall of those structures intersected thus far.
This mineralisation has not been previously seen and represents the potential to increase the size of the mineral resource estimate when it is completed.
RC hole FOS24RC_060 intersected a narrow gold-bearing structure underneath the ‘prospector pits’ previously reported.
With geological modelling of the mineralised system ongoing, a mineral resource (MRE) estimation and reporting won’t begin until the scale of the structures identified to date is fully understood.
Once the full assay results for the current program are received, an update to the geological interpretation can be made.
Lunnon says that further definition drilling, potentially stepping straight in to a grade control spacing (for example 8-metres x 6-metres), may be the preferred next step to expedite evaluation and permitting of this high-grade, thick and shallow opportunity.
Pursuing tier-1 deposits
The company’s current strategy aims to leverage any gold discoveries with the region's existing processing capacity and thereby fund the ongoing pursuit of tier-1 deposits in one of Australia’s most prolific gold belts.
Lunnon highlights that all gold prospects being tested and evaluated are 100% owned by the company, on granted mining tenements and benefit from significant existing infrastructure.
Nearby gold plants include Lefroy and Higginsville, with the Lefroy plant, located a few kilometres to the north, notably owned and operated by major Lunnon shareholder, Gold Fields Ltd.