Lunnon Metals Advances Open Pit Gold Prospects with Strong Results at Lady Herial

December 13, 2024 11:21 AM AEDT | By Team Kalkine Media

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Lunnon Metals Advances Open Pit Gold Prospects with Strong Results at Lady Herial — Image source: shutterstock

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Highlights

Lunnon Metals focuses on near-surface gold development at Lady Herial prospect.

Successful drilling expands gold zone and confirms mineralization.

Updated assessment planned for early 2024 to evaluate economic potential.

Lunnon Metals (ASX:LM8) has reported significant progress in its Lady Herial gold prospect within the Kambalda Gold and Nickel Project in Western Australia. Recent drilling results confirm the potential for a near-surface gold system that could support an open pit mining operation. The shallow mineralization identified aligns with the company’s strategy to explore and develop gold assets close to surface.

The latest drilling results showcased promising intercepts, such as 20 meters of gold grading 2.44 g/t from a depth of 12 meters and 7 meters grading 6.67 g/t from 11 meters. Additional findings included 9 meters of gold grading 2.47 g/t, confirming the presence of gold at depths reaching at least 50 meters. These results reinforce the company’s confidence in the prospect’s economic viability for open pit mining.

Exploration at Lady Herial has also expanded the known mineralization zone. Drilling outside the current model revealed 6 meters of gold at 3.89 g/t and 1 meter grading 26.3 g/t from 6 meters, highlighting the possibility of a larger gold system. The company plans to undertake deeper diamond drilling to evaluate mineralization at greater depths, with results expected to further enhance the potential of the project.

Located within the prolific St Ives Gold Belt, Lady Herial benefits from its proximity to established gold processing infrastructure. The region’s rich history in gold production adds strategic value to Lunnon Metals’ (LM8) exploration activities.

In addition to ongoing drilling, the company aims to conduct a comprehensive assessment of the Lady Herial prospect in January 2024. This review will provide insights into the feasibility of economic development and guide future exploration efforts. Plans include a closely spaced grade-control drilling program to refine the resource model and generate detailed metallurgical data for processing studies.

Other notable drilling results from Lady Herial include 22 meters of gold at 0.68 g/t and 6 meters grading 1.32 g/t from surface. However, further exploration is needed to understand the orientation and extent of quartz structures in certain areas, such as Prospector’s Pits.

With a strong exploration record and favorable gold prices, Lunnon Metals (LM8) is poised to advance the Lady Herial project toward development. The upcoming metallurgical testing and resource estimation will play a key role in unlocking the project’s full potential.

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