Lunnon Metals reports strong gold results from Plentiful prospect in WA

• Plentiful prospect returns consistent, thick gold intersections
• Structure continues to display reliable dip and strike characteristics
• Plentiful EIS deep drilling program concludes
• $13M exploration plan continues to drill, review, rank and assess target portfolio

Lunnon Metals (ASX: LM8) has intersected wide zones of gold mineralisation at the Plentiful prospect within the Foster-Baker (FBA) gold project in WA.

FBA is located in the middle of the prospective St Ives gold camp, a district that has produced over 18 million ounces of gold mined since modern production commenced in the early 1980s.

MD, Edmund Ainscough, said the company’s investigation of the area is in full swing with a $13 million, 43,000 metre FY2027 drill program advancing a portfolio of early-stage conceptual targets in under-explored areas in search of a significant discovery.

He told shareholders the objective is balanced with definition work progressing more advanced near surface deposits that aim to reproduce the recent success at the Lady Herial open pit.

A key target the Plentiful area, which hosts a near surface, advanced prospect as well as a conceptual, deep target, the testing of which was co-sponsored under the Western Australian government’s Department of Mines, Petroleum and Exploration (DMPE) Exploration Incentive Scheme (EIS).

“Plentiful continues to provide consistent, thick, and modest gold grade intercepts. We have done enough now at Plentiful to model the mineralisation, test its economic potential and make an assessment on where it ranks in our portfolio,” Mr Ainscough said.

“A key objective of the FY2027 discovery program is to assess opportunities quickly and then advance them swiftly or park them, so they do not become a distraction. Our site team’s mantra is to make sure the drill rigs keep testing as many new prospects/targets as possible, as the next line of holes, the next deep diamond hole, or the next follow up RC hole might be the one to shift the dial.”

Reverse Circulation (RC) results returned from drilling which targeted the northwest portion of the near surface Plentiful prospect have shown early promise.

The program’s objective was to follow up gold mineralisation on the main structure as well as assessing the potential for mineralisation in the hangingwall, as suggested by previous results such as 4.0m at 3.82 grams per tonne (g/t) gold.

A total of 10 new drill holes have now been completed, generating multiple significant intersections above a reporting cut-off of 0.5 g/t Au.

Highlights returned include 12.0m at 1.42 g/t, 14.0m at 1.42 g/t, 14.0m at 1.04 g/t, 4.0m at 2.08 g/t and 9.0m at 1.09 g/t.

LM8 was up 0.75% to 33.5¢. Mkt cap $74.26M.

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