PARINGA WEST DELIVERS 8 METRES @ 5.52 G/T GOLD

New drilling results from Lunnon Metals highlight gold prospectivity at St Ives leases

Lunnon Metals Limited (ASX:LM8) has announced encouraging new results from reverse circulation (RC) drilling at the Paringa West prospect, part of its Foster-Baker Project (FBA) at St Ives/Kambalda. The campaign follows a strategic shift to gold-focused exploration in early 2024, with Paringa West returning multiple significant intercepts.

Two of the three latest RC holes intersected notable gold mineralisation at the intended target depth. The best results include:

PBS25RC_044: 8.0m @ 5.52g/t Au from 65 metres, including 12m @ 0.50g/t Au from 46 metres
PBS25RC_042: 6.0m @ 1.49g/t Au from 54 metres

These results support a revised geological interpretation that identifies a gently northwest-dipping structure, as opposed to the previously assumed north-south trend.

The third hole in this round returned no significant assays.

This reinterpretation positions Paringa West within a broader corridor of prospective structures at St Ives, similar to the ‘32 surface’ at Victory and the ‘W66 structure’ at Revenge—both high-grade zones in Gold Fields Ltd’s underground mines. These structural analogues offer promising potential on Lunnon Metals’ western leases.

The company’s current focus includes the interpreted host rock of Upper Paringa Basalt, a key geological unit also present across significant deposits at FBA. A newly identified area measuring 180m by 200m remains open and untested, providing further opportunity for exploration upside.

Lunnon’s ongoing work at St Ives includes two primary objectives:

Define and permit a replacement for, or extension of, Lady Herial
Explore its 23sqkm tenement package in the heart of the 16Moz+ St Ives gold camp

Managing Director, Edmund Ainscough, commented:

Our tenements sit in the very heart of Gold Fields’ +16Moz St Ives gold camp, so it has always been an enigma that they have not yielded more gold discoveries. Our view is that this simply stems from the fact that WMC found nickel first at Foster and Jan in the 1960s/1970s, and thereafter gold exploration played second fiddle to a near exclusive nickel focus on our leases. There’s no doubt the area was prolific in the 1920s when prospectors first opened up this goldfield (then also called St Ives). Since WMC sold in 2001, Gold Fields has had amazing success exploring at St Ives, but especially out on Lake Lefroy, culminating in their world-class Invincible discovery. Our success at Lady Herial and now these results show there is plenty left to find in our part of this great gold camp back on land!