Lunnon Metals (ASX:LM8) Reveals New Gold Structures in Sterilisation Drilling
New Gold Structure Discovered
Lunnon Metals Limited (ASX:LM8) has announced the discovery of a new gold structure at its Lady Herial gold deposit. The sterilisation drilling program intersected 15 metres at 1.73 grams per tonne (g/t) gold and 8 metres at 1.14 g/t gold, located just 100 metres northwest of the existing Lady Herial deposit.
Drilling Program Results
The recent reverse circulation (RC) drilling campaign aimed to sterilise areas around the potential development footprint. Significant intercepts include 15m @ 1.73g/t Au from hole LDH25RC_120 and 8m @ 1.14g/t Au from hole LDH25RC_119. These results suggest the presence of broad zones of gold mineralisation in a stacked pattern, similar to other prospects in the Foster Gold Belt.
Mineral Resource Update
Lady Herial currently hosts a Mineral Resource of 0.57 million tonnes at 1.6g/t Au for 29,000 ounces. The deposit remains open at depth, and the new findings at LDH Northwest prospect indicate strong potential for lateral growth at shallow depths. The company plans to adjust surface infrastructure placement based on these drilling outcomes.
Executive Comments
Managing Director Edmund Ainscough stated, “The site team are busy pushing forward and completing the necessary pre-development drilling activities to ensure we place any future potential surface infrastructure at Lady Herial correctly. Getting these jobs done early allows us to adjust our plans to suit and we can quickly return the rigs to Lady Herial and drill around these results to see if any open pit optimisation wants to drive in this direction. We understand how the optimisation process responds at depth, but any near surface potential close to Lady Herial which offers lateral growth at shallow depth will be followed up aggressively without hindering the permitting process.”
Future Plans
Lunnon Metals is evaluating and planning follow-up programs for the LDH Northwest prospect. Continued positive drilling results will guide the finalisation of permitting and the potential development of open pit mining operations at Lady Herial.
Motley Fool contributor Lianne Eastty has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
This article was generated using GPT-4o mini, a Large Language Model (LLM), to generate summaries of investing news. While AI is generating the content, we know better than to blindly trust our future robot overlords, and every article is edited and fact-checked by an editor holding the appropriate credentials. The Motley Fool Australia stands behind the work of our editorial team and takes ultimate responsibility for the content of everything published by The Capital Club.
