Join our daily newsletter At The Bell to receive exclusive market insights
- Lunnon Metals (LM8) has returned assay results for its wholly-owned, Western Australia based nickel mine
- The diamond drill series returned 7.7 metres at 2.92 per cent nickel from 315.2 metres downhole where historical studies confirmed unmined nickel mineralisation
- According to the announcement, the Foster tenement is adjacent to an area with a JORC mineral resource value at 85 hectares of 16,000 tonnes of nickel at 2.4 per cent nickel
- The Foster mine falls within the larger Kambalda Nickel District (KND). The 23 square kilometre district is home to 19 active mines leases and has been operating for 55 years
- Lunnon Metals shares were down 2.02 per cent to 48.5 cents
Lunnon Metals (LM8) has returned assay results for its wholly-owned, Western Australia based nickel mine.
The diamond drill series returned 7.7 metres at 2.92 per cent nickel from 315.2 metres downhole where historical studies confirmed unmined nickel mineralisation.
Additional results from the Foster Gap include one metre at 0.65 per cent nickel from 551 metres downhole.
According to the announcement, the Foster tenement is adjacent to an area with a JORC mineral resource value at 85 hectares of 16,600 tonnes of nickel at 2.4 per cent nickel.
The Foster nickel mine falls within the larger Kambalda Nickel District (KND). The 23 square kilometre district is home to 19 active mines leases and has been operating for 55 years.
The KND has produced more than 1.4 million tonnes of nickel and 15 million ounces of gold.
“Now that these assay results are back we can work to finalise the mineral resource estimate for this surface,” Managing Director Ed Ainscough said.
“Being right next door to the existing 16,600 nickel-metal tonnes hosted at the 85H surface, it will offer additional nickel to our future plans in this area of the Foster mine and hopefully be the start of many more additions from the historical drill core programme, which aims to incrementally grow the Foster mineral resource over the course of 2022.”
Lunnon Metals shares were down 2.02 per cent to 48.5 cents.
