STRIKING GOLD: PROMISING DRILL RESULTS AT FOSTER

Exploration Advances With Strong Gold Intercepts

Lunnon Metals Limited (ASX: LM8) shared an optimistic update on the Foster-Baker (FBA) project, unveiling substantial gold assay results and ongoing exploration developments.

The recent drilling endeavors at the FBA project have uncovered remarkable gold grades, demonstrating continuity with the region’s historical data. Key highlights from the diamond drilling (DD) and reverse circulation (RC) programs include:

  • Lady Herlial Prospect:
    • 0.60m at 10.84g/t Au from 10.0m depth
    • 1.8m at 19.97g/t Au from 14.3m depth
    • 1.0m at 15.26g/t Au from 8.0m depth
  • Hustler Prospect:
    • 4.31m at 8.69g/t Au from 90.0m depth
    • 1.05m at 33.81g/t Au from 93.26m depth
    • 3.60m at 5.15g/t Au from 248.7m depth

Additionally, exploratory work is targeting other promising sectors such as Plentiful, where further drilling seeks to ascertain the full scope of the gold mineralization with an eye towards surface mining potential.

Lunnon Metals also casts light on an exciting potential related to the Lunnon Sediment, the site of the high-grade Father’s Day Vein at Beta/Hunt mine.

Managing Director, Edmund Ainscough, remarked on the multi-metallic nature of the Kambalda region and the company’s positioning:

The beauty of Kambalda is that it hosts world-class nickel and gold camps. 1.6Mt of nickel metal and over 15Moz of gold has been mined since the 1960s and 1980s respectively. Basically, anything is possible and the discovery opportunity for both metals is exciting. Remember, we found Baker, nearly 31,000t of metal at over 3.0% Ni grade in the top few hundred metres below surface surrounded by historical 100m x 100m spaced drilling by WMC that had missed the high-grade!

There is an array of different sized gold deposits on our immediate doorstep at Foster-Baker, from massive (>3.5Moz) at both Victory and Argo-Athena-Hamlet to modest and small. This is the perfect backdrop to our gold program and to say we are pleased with the results from the first pass test of six prospects is an understatement. We will definitely be taking Plentiful forward as soon as possible and Lady Herlial and Hustlers sit immediately adjacent to our Foster nickel mine and the 56,800t of nickel metal hosted there in Mineral Resource.

Kambalda is the ideal place to execute a dual nickel and gold focus, noting that WMC operated just such a combined business at Kambalda from the 1980s right through to 2001 and our neighbours at Beta/Hunt (TSX: Karora Resources) also benefit from exposure to both metals.

This narrative continues to establish Lunnon Metals as a vigilant explorer in the sector, with drilling programs promising to expand the narrative of gold potential in the region.

Read the full announcement

Goldman

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