Lunnon Metals (ASX:LM8) extends Plentiful prospect with encouraging gold assays

Lunnon Metals (ASX:LM8) has underscored the exploration potential of its Kambalda Gold and Nickel Project, reporting fresh assay results from the Plentiful prospect that extend the known mineralisation to more than 450 metres in dip.

Situated between some of the district’s most productive historical mining centres, the new results suggest Plentiful could evolve into an important addition to the company’s development pipeline alongside the Lady Herial prospect.

Highlights

• Intersections include 10m at 1.23g/t Au, 24m at 0.74g/t Au, 18m at 0.84g/t Au and 1m at 14.90g/t Au.

• Mineralised structure now traced to a dip extent of more than 450m.

• Plentiful located within a 600m magnetic anomaly in the Paringa Basalt, proximal to major Gold Fields deposits.

• Results follow the recently completed Lady Herial Scoping Study and Ore Purchase Agreement with St Ives Gold Mining.

The Plentiful prospect sits within Lunnon’s Foster-Baker project area, approximately 3km south-southwest of Gold Fields’ Victory-Leviathan complex and 4km northwest of Argo-Apollo.

The host is a differentiated dolerite unit, a known favourable geological setting for gold mineralisation within the Kambalda district, where reverse circulation drilling was conducted on a 20m by 20m grid near surface with additional step-out holes probing deeper extensions.

The assays revealed gold mineralisation considerably broader than expected, albeit at modest grades, with potential for structural complexity to enhance localised grade distribution.

Notably, hole PBS25RC_039 intersected 8m at 0.75g/t Au some 200m further down plunge than prior drilling, extending the structure to over 450m in dip, while earlier work at Plentiful had already delivered high-grade near-surface intercepts including 5m at 10.07g/t Au and 3m at 4.78g/t Au.

The latest results confirm continuity and scale, lending weight to the view that the prospect may form part of a larger mineralised system bridging two of the district’s most productive centres.

Lunnon Metals Managing director Edmund Ainscough commented:

“These latest results have not only improved the definition of the near surface gold opportunity but more importantly, extended the mineralisation down plunge an additional 200m. As a result, Plentiful now has a plunge of over 450m which has significant implications for the possible extent of the structure down dip, but also laterally to the north and south.”

The company’s exploration push at Plentiful runs in parallel with its development path at Lady Herial, where a Scoping Study indicated a low-strip open pit of 300,000–320,000 tonnes grading 1.8g/t Au could deliver approximately A$31 million at prevailing gold prices, under an Ore Purchase Agreement with St Ives Gold Mining.

That arrangement gives Lunnon a 70 per cent share of free cash flow and provides a potential funding pathway for further high-risk, high-reward exploration at prospects such as Plentiful, Defiance West, Hustler and Cooee.

The Kambalda–St Ives belt has already yielded more than 16 million ounces of gold and remains a prolific camp for new discoveries.

Gold Fields’ Invincible deposit, found decades after the first mining boom in the district, underscores the premise that significant discoveries can still emerge late in the exploration cycle.

Lunnon’s 47 square kilometres of tenure are surrounded by existing infrastructure and multiple processing options.

The next stage at Plentiful will involve assessing the economic basis of the mineralisation ahead of potential follow-up drilling both at surface and depth, with a government-supported diamond drill program under the Exploration Incentive Scheme scheduled to commence later in 2025 or early 2026.

With Lady Herial advancing towards development, Lunnon is positioning Plentiful and other prospects to replenish its pipeline, reinforcing its exposure to one of Australia’s most storied gold provinces.

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