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Highlights
- Lunnon Metals secures EIS grant for gold drilling.
- Exploration to target Foster Gold Prospect at Kambalda Project.
- Potential transformative discovery in a proven gold-nickel region.
Lunnon Metals Ltd (ASX:LM8) has been awarded an Exploration Incentive Scheme (EIS) grant by the Western Australia Department of Energy, Mines, Industry Regulation and Safety. The grant, amounting to up to $220,000, will co-fund drilling programs at the Foster Gold Prospect, part of Lunnon’s Kambalda Gold and Nickel Project. This funding is intended to support two diamond drill holes at the Defiance West target, an area near the Foster nickel mine.
The drilling will focus on the footwall of the Foster nickel mine, located southwest of the Conqueror gold deposit. This region, covering about 4 square kilometres, is expected to reveal new insights into the area's gold potential. The proximity to the nearby Beta/Hunt Mine, where past gold exploration has linked high-grade sulphide nickel deposits with significant gold mineralization, adds to the optimism surrounding this project.
Strategic Gold Exploration
Lunnon Metals has expressed its appreciation to the Western Australian government for the financial support. The company’s managing director, Edmund Ainscough, highlighted the significance of this exploration, which will target previously unexplored bedrock at depth. The similarities between the structures at Defiance West and those found in the Beta/Hunt mine have encouraged the company to expand its exploration efforts in this area.
Over the past several years, exploration at Beta/Hunt has uncovered a strong connection between nickel sulphide deposits and gold occurrences. Lunnon Metals has already observed gold-bearing structures at its Lady Herial project, located near the Foster mine, which further solidifies the region's potential.
Future Prospects at Defiance West
The Defiance West target presents an exciting opportunity for Lunnon Metals, as the company believes it holds the same types of gold-bearing rocks as those found at the Beta/Hunt mine to the north. With the identification of several mineralized gold structures near the Foster nickel mine, Lunnon is optimistic about the potential for significant discoveries.
Lunnon Metals’ tenements at Foster and Baker are situated among some of Western Australia’s most productive gold mines. With the backing of the EIS grant, the company aims to accelerate its exploration efforts in this historically rich region. The possibility of discovering new gold deposits could lead to significant developments for the company as it continues to explore the untapped potential of its holdings.
This latest round of exploration, supported by the EIS grant, reflects Lunnon Metals' commitment to advancing its gold and nickel exploration projects in Western Australia. As the company prepares to drill deeper into the Defiance West target, there is a growing sense of anticipation regarding the outcome of this critical exploration phase.
