Lunnon Metals (ASX:LM8) Paringa West drilling sharpens the St Ives Gold focus

Lunnon Metals has delivered a fresh data point from the heart of Western Australia’s St Ives gold camp, reporting new reverse circulation drilling results from the Paringa West prospect within its Foster Baker Project.

The latest intercepts reinforce a revised geological interpretation first flagged in 2024 and point to the potential for additional gold mineralisation on the western side of the company’s tenement package at Kambalda.

Highlights

• New reverse circulation drilling at Paringa West returned 8.0m @ 5.52g/t Au from 65m and 6.0m @ 1.49g/t Au from 54m
• Results confirm a revised interpretation of a gently northwest dipping mineralised structure
• Two of three new holes intersected significant gold mineralisation at the target depth
• Mineralisation is hosted in Upper Paringa Basalt, the same unit as the nearby Hamlet Athena gold complex
• An initial target area of at least 180m by 200m remains open to the northwest

The Paringa West results stem from a focused program designed to test a reinterpretation of historical drilling completed in early 2024.

At that time, multiple intercepts suggested the presence of mineralised structures cutting obliquely across an initially interpreted north south trend.

Subsequent work indicated that these intercepts are more closely explained by a gently northwest dipping structure, which was tested by drilling three new holes spaced 80m apart, with two holes intersecting gold mineralisation at the design depth and the third returning lower level anomalous assays.

The standout intercept of 8.0m @ 5.52g/t Au from 65m in hole PBS25RC_044, along with associated lower grade intervals, provides further support for the revised structural model.

Importantly, the mineralisation sits within the Upper Paringa Basalt, a favourable host rock that also underpins the 1Moz plus Hamlet Athena complex located immediately south of the Foster Baker Project on adjacent Gold Fields leases.

Comparable shallow dipping structures are a recognised feature of the St Ives camp and are known to host significant gold systems that may not outcrop at surface.

Lunnon’s management has emphasised that the Foster Baker tenements occupy a central position within the broader St Ives district, which has produced more than 16Moz of gold historically.

As Managing Director Edmund Ainscough noted,

“Our tenements sit in the very heart of Gold Fields’ +16Moz St Ives gold camp, so it has always been an enigma that they have not yielded more gold discoveries.”

He attributed this in part to the historical focus on nickel exploration across the leases, with gold playing a secondary role for much of the past several decades.

The Paringa West program sits alongside ongoing work at Lady Herial, where the company has already secured regulatory approvals and entered into an ore processing arrangement with St Ives Gold Mining Co.

That agreement provides a potential pathway for processing future gold production at a nearby plant, positioning Lady Herial as a foundation asset while higher risk exploration continues across the broader tenement package.

From a strategic perspective, Lunnon has been clear that its objective is to define a replacement for, or extension of, Lady Herial as quickly as possible, while simultaneously advancing exploration across its 23sqkm landholding within the St Ives camp.

The Paringa West results add another target area to that portfolio, with drilling to date defining an initial footprint that remains open and untested in favourable geology.

In the context of a mature but still highly prospective gold district, the latest results underscore the value of reinterpreting historical data with modern geological models.

For Lunnon Metals, Paringa West represents an incremental but meaningful step in building a pipeline of gold opportunities close to existing infrastructure in one of Australia’s most prolific mining camps.

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.