Lunnon Metals (ASX:LM8) extends Plentiful gold mineralisation to 450 metres down dip

Lunnon Metals Limited (ASX:LM8) has reported new drilling results from the Plentiful gold prospect, part of the Kambalda Gold and Nickel Project in Western Australia.

The latest campaign has extended the mineralised structure to more than 450 metres down dip and confirmed consistent widths and grades, providing encouraging support for the scale of the opportunity.

Managing Director Edmund Ainscough responded to some key investor questions.

What do the latest drilling results at the Plentiful prospect tell us about the scale of the mineralisation?

“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.”

Drilling has confirmed that the structure continues more than 200 metres further down plunge than previously known.

Intersections such as 24 metres at 0.74 grams per tonne gold, 18 metres at 0.84 grams per tonne, 10 metres at 1.23 grams per tonne, and one metre at 14.90 grams per tonne suggest a strong mineralising system.

How do these results compare with previous drilling in the area?

Earlier drilling at Plentiful returned strong near-surface results, including 6 metres at 3.02 g/t Au, 5 metres at 10.07 g/t Au, and 3 metres at 4.78 g/t Au.

These intersections helped establish the model that a differentiated dolerite was the host rock.

The latest program has advanced that understanding by showing mineralisation extending more than 200 metres deeper than before, with the thickest zones being broader than expected.

Together, these results confirm that the system is larger and more continuous than initially thought.

What are the next steps for advancing the Plentiful prospect?

The immediate priority is to evaluate the economic basis of the mineralisation defined to date, and this will establish whether the widths and grades observed can support potential development.

Planning is underway for a diamond drill program funded through the Western Australian government’s Exploration Incentive Scheme, designed to test the magnetic anomaly at Plentiful.

Drilling is scheduled to begin in late 2025 or early 2026, once the final geoscientific data has been gathered and incorporated into the drill design.

Follow-up drilling, both shallow and deep, will then provide further clarity on the overall scale and development pathway for the prospect.

How does Plentiful fit into Lunnon Metals broader gold strategy in the St Ives camp?

“The Plentiful area is shaping up to be part of a much larger system than originally thought and is developing some width and scale to the gold mineralisation present, which is extremely encouraging.”

Plentiful is one of several high-ranking prospects within the Foster-Baker project area and sits alongside Lady Herial, Hustler, Guiding Star, Koombana and Cooee in the company’s pipeline.

The strategy is to replicate the success achieved at Lady Herial, where a scoping study indicated that a shallow pit could deliver between 300,000 and 320,000 tonnes of ore grading 1.8 g/t Aufor around 18,000 ounces of gold.

At a gold price of A$5,000 per ounce, that scenario could generate approximately A$31 million over a short period, with 70 per cent of free cash flow attributable to Lunnon Metals under the Ore Purchase Agreement signed with St Ives Gold Mining Co.

Plentiful’s location between the Victory-Leviathan and Argo-Apollo centres, combined with its scale, makes it well positioned to join Lady Herial in advancing the company’s development pipeline.

What are the broader implications of these results for shareholder value?

“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.”

By extending mineralisation to over 450 metres in dip direction and confirming broad zones at depth, Plentiful represents a stronger and more strategic opportunity.

Its proximity to existing operations and processing infrastructure operated by Gold Fields enhances its significance.

For shareholders, the results provide both near-term and longer-term value: the company is advancing shallow, mineable deposits like Lady Herial that can deliver cash flow while also progressing larger-scale exploration prospects such as Plentiful.

This dual approach strengthens the portfolio and supports sustainable growth.

Looking ahead at plentiful

The latest results highlight Plentiful as a high-priority opportunity in Lunnon Metals exploration pipeline.

With mineralisation extended to more than 450 metres down dip and government-supported drilling set to test deeper targets, the company is positioned to continue building momentum across the St Ives camp.

These developments align with Lunnon Metals’ broader plan to generate cash flow from shallow projects while pursuing major discoveries in one of Australia’s most prolific gold-producing districts.

Please note the following valuable information before using this website. 

Independent Research 

Market Open Australia is intended to be used only for educational and informative purposes, and any information on this website should not be taken as investment advice or guidance. It is important to conduct your own research before making any investment decisions, which should be based on your own investment needs and personal circumstances. Any investment decisions based on information contained on this website should be taken in line with independent financial advice from a qualified professional or should be independently researched and verified.