Lunnon Metals (ASX:LM8) advances Hustler and Plentiful in the St Ives gold camp

Lunnon Metals has reported a new set of reverse circulation drill results from the Hustler prospect and an update on its Exploration Incentive Scheme supported diamond drilling at Plentiful, both located within the Foster Baker Gold Project in the St Ives Kambalda district of Western Australia, one of the country’s most prolific gold producing regions.

The work continues to build a technical picture around targets that sit in close proximity to long established mining centres and processing infrastructure, while also drawing on a geological setting that has delivered more than 16Moz of historical gold production across the broader camp.

Highlights

• Multiple shallow and thick gold intercepts at Hustler, including 20m @ 1.66g/t Au, 17m @ 1.50g/t Au, 16m @ 1.39g/t Au and 28m @ 1.02g/t Au.
• Mineralisation hosted within the Defiance Dolerite, the same favourable unit that hosts the nearby Lady Herial deposit.
• Modelling and open pit optimisation planned to rank prospectivity and guide the next phase of drilling.
• Completion of the first EIS supported diamond drill hole at the Plentiful Dolerite, with detailed logging and assays pending.

The latest program at Hustler has focused on in fill drilling across a shallow, structurally controlled gold zone where mineralisation is developed within the Defiance Dolerite, a unit that is also present at the Lady Herial deposit located approximately 350m to the northwest.

Significant intersections such as 28m @ 1.02g/t Au from 137m in FOS25RC_097, 20m @ 1.66g/t Au from 31m in FOS25RC_168 and 17m @ 1.50g/t Au from 7m in FOS25RC_135 demonstrate continuity of mineralisation along a structure that remains 30m to 40m wide in its more favourable host zone.

The company notes that the extended hole FOS25RC_097 ended in mineralisation in an earlier program and has now returned additional gold at depth, with the intercept located about 300m down plunge from surface and thicker than adjacent sections, supporting the interpretation of a coherent mineralised system.

Geological interpretation indicates that the main gold zone may not reach surface at its maximum width, potentially due to the influence of a later east west striking quartz structure that is weakly mineralised and mapped at surface.

This structural complexity is now being incorporated into three dimensional modelling, with the stated intention to run open pit optimisation studies at the prevailing gold price to assess whether Hustler, in its current configuration, warrants further drilling aimed at advancing resource classification and permitting.

In parallel, attention is also directed to the Plentiful prospect, defined by a 600m long magnetic anomaly that drilling in early 2024 identified as a differentiated dolerite now termed the Plentiful Dolerite.

The first diamond drill hole of the EIS program, designed to test a target located between the Victory Leviathan and Argo Apollo gold mining complexes, has been completed, with logging, sampling and interpretation underway.

The surrounding district, mined for more than 35 years by WMC Resources and Gold Fields, has produced in excess of 7Moz of gold, providing a strong geological and operational context for Lunnon Metals’ exploration footprint.

Managing Director Edmund Ainscough framed the work at Hustler in the context of near term development at Lady Herial, noting that

“as the Lady Herial open pit gets ready to start, the hunt is on to identify the ‘next cab off the rank’,”

and emphasised that the company is applying a methodical approach to focus drilling on targets within the Foster Gold Belt that display similar geological attributes.

Looking ahead, the immediate technical pathway involves completion of mineralisation modelling and optimisation studies at Hustler, alongside receipt of assays and interpretation from the Plentiful diamond core.

Within the broader St Ives Kambalda camp, where large deposits have historically been found after decades of mining, Lunnon Metals is positioning its exploration programs within a well endowed structural corridor and favourable host stratigraphy, seeking to progress its portfolio of gold prospects through disciplined, data driven evaluation.

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