- Lunnon Metals (LM8) has kicked the new year off with some positive nickel results from the Baker shoot discovery at its Kambalda nickel project in WA
- The company is particularly delighted with one drill hole which returned an intersection of seven metres at 9.22 per cent nickel from 123 metres downhole
- Managing Director Ed Ainscough says the results received so far confirm Baker as an “exciting, high grade, near surface discovery”
- Further results remain pending and drilling is continuing to support a maiden mineral resource estimate
- Company shares are up 25.2 per cent to trade at 67 cents each
Lunnon Metals (LM8) has kicked the new year off with some positive results from the Baker shoot discovery at its Kambalda nickel project in Western Australia.
The company completed a reverse circulation (RC) infill drilling program prior to the Christmas and New Year period.
Lunnon received assays for the first complete line of holes drilled at the Baker discovery in November which reportedly yielded significant intersections.
The company was particularly pleased with results from hole ECO21RC_040, which returned seven metres at 9.22 per cent nickel from 123 metres downhole, including six metres at 10.5 per cent nickel from 124 metres.
Additional results include six metres at 3.67 per cent nickel from 132 metres downhole, including four metres at 4.86 per cent nickel from 133 metres from ECO21RC_024.
Lunnon also reported “elevated” platinum and palladium assays of six metres at 0.7 grams per tonne (g/t) platinum and 1.55 g/t palladium from 124 metres, and four metres at 0.61 g/t platinum and 1.14 g/t palladium from 133 metres.
“Baker has delivered a great start to the year! As we had hoped, based on the visual and XRF work carried out during the programme, the assay results are now confirming Baker as an exciting, high grade, near surface discovery,” Managing Director Ed Ainscough said.
Importantly, Lunnon observed a “very high-grade” and frequently thickened nickel mineralised zone in ECO21RC_040 which it said requires follow-up RC and diamond drilling ahead of a maiden mineral resource.
Company shares were up 25.2 per cent to trade at 67 cents at 1:06 pm AEDT.