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Highlights
- Lunnon Metals Ltd has identified a new high-grade gold zone at the Lady Herial prospect in Western Australia.
- Significant intercepts indicate potential for substantial near-surface gold mineralization.
- The company aims to rapidly evaluate and potentially commercialize these findings.
Lunnon Metals Ltd (ASX:LM8) has announced exciting developments at the Lady Herial prospect, part of the Kambalda Gold and Nickel Project in Western Australia. Recent diamond and in-fill reverse circulation (RC) drilling have unveiled a new gold zone at the surface, enhancing the company's already strong position in one of Australia's leading gold production areas.
The Kambalda/St Ives gold camp is renowned for its rich history of gold production and discoveries. According to Edmund Ainscough, managing director of Lunnon, "New opportunities just keep opening up at Lady Herial." The exploration team continues to make remarkable progress, revealing new mineralized zones in areas that have historically seen limited testing.
Significant Discoveries and High-Grade Results
Lunnon has pinpointed two thick, parallel mineralized structures at Lady Herial, situated approximately 50 to 60 meters apart and dipping at 30 degrees to the northwest. Recent drilling results have confirmed the presence of high-grade gold in these structures, particularly in the area between the Upper and Lower Structures. Noteworthy findings include 13 meters at 4.10 grams per tonne (g/t) of gold and an impressive 23 meters at 16.61 g/t gold from the footwall below the Lower Structure. This result surpasses a previous record of 18 meters at 5.27 g/t gold.
One standout intercept recorded was one meter at an astonishing 350 g/t gold, which translates to over 10 ounces of gold per tonne, all within six meters averaging 62.47 g/t gold. Given the minimal previous drilling in this area, especially to the south and east, Lunnon plans to conduct follow-up drilling to assess the full potential of these discoveries.
Strategic Objectives and Future Plans
The ongoing exploration at Lady Herial is a priority for Lunnon Metals, aligning with its strategic objectives to define shallow, high-grade mineralization that can be quickly evaluated and potentially commercialized. As further assay results are processed, the company will undertake geological modeling and open-pit optimizations to determine the viability of reporting an initial mineral resource.
This prospect has the potential to represent Lunnon’s second major discovery, following the successful Baker nickel discovery in 2022. The management team’s extensive local geological knowledge positions the company favorably for future discoveries, with plans to leverage existing processing capacity in the region. Coupled with a robust cash balance, Lunnon is well-equipped to pursue tier-1 deposits in one of Australia’s most productive gold belts.
