Lunnon Metals (ASX:LM8) tips the pan again with shallow gold find at Cooee

Lunnon Metals (ASX:LM8) has stumbled across a pocket of shallow high grade gold that could rewrite the pecking order at its Kambalda camp.

Drilling aimed at nickel contacts intersected 2 metres at 20.24 grams per tonne gold from 32 metres and a separate 4 metres at 11.14 grams per tonne within 18 metres at 2.74 grams per tonne, all beneath 1920s surface workings.

In total, modern and historical holes now map more than 400 metres of strike on the south dipping quartz lodes at the southern end of the newly named Cooee Belt.

Highlights

• 2 metres at 20.24 grams per tonne and 4 metres at 11.14 grams per tonne among several shallow hits up to 2.86 grams per tonne prove the Cooee structure is live

• Old nickel fences now double as gold lines, delivering a ready made 400 metre target

• Cooee joins Hustler, Guiding Star and Koombana on the FY 2026 high priority drill list

Cooee had sat quietly in the database since the Western Mining Corporation era, overshadowed by its nickel credentials.

Re-assaying of old cores and three fresh holes changed the story, confirming the 1920s reef persists at depth and at grades well above threshold.

Managing Director Edmund Ainscough acknowledged the unexpected nature of the breakthrough:

“The site team are finding gold even when they are not, or rather were not, looking for it. Recognising the highly prospective nature of the Cooee prospect is a big bonus and further strengthens the gold portfolio and starts to build momentum in the other belts and domains that the discovery team are identifying.”

The good fortune does not stop there, the Gold Fields, Lunnon’s largest shareholder, owns the nearby St Ives processing plant which may provide a ready pathway to toll treatment once a resource is in hand.

The Cooee prospect already sits on granted mining leases and has nearby haulage infrastructure, giving the project a potential head start when development time comes.

Within the broader context, this discovery mirrors the experience of the Invincible deposit at St Ives, where new modelling and modern exploration techniques uncovered a large gold system in a well known province.

If Cooee delivers a small high grade starter pit, it could generate early revenue to support broader exploration and demonstrate a near term production scenario for investors.

The forward plan is clear, mapping and sampling will define the footprint ahead of an intensive drilling program scheduled for the 2026 financial year.

While Lady Herial introduced Lunnon Metals to the gold market, Cooee may establish the company as a credible gold contender alongside its nickel ambitions.

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.