Lunnon Metals (ASX:LM8) reports ‘high-grade’ gold results from its $13 million exploration program at the Foster-Baker Gold Project in Western Australia’s St Ives gold camp.
The company completed 36 holes across the Hustler and Koombana prospects, recording more than 70 intercepts above 0.5 grams per tonne gold (Au). Hustler returned 1m @ 80.8g/t Au, 4m @ 7g/t Au, and 3.62m @ 10.8g/t Au.
At Koombana, 300m south-east of Hustler, 19 reverse circulation holes on 20m by 20m spacing returned 22m @ 3.31g/t Au, 5m @ 3.91g/t Au, and 10m @ 1.53g/t Au.
Deeper intercepts beyond 150m include 3m @ 2.1g/t Au, 1m @ 9.11g/t Au, and 5m @ 1.61g/t Au.
Hustler contains a mineral resource estimate of 36,200 ounces within 235m of surface. A further 17 holes at the deposit comprised infill definition, step-out, and geotechnical diamond drilling.
“The FY2027 drill program is testing a portfolio of early-stage, conceptual, and more advanced targets to replenish the Lady Herial pipeline for development and gold production,” Managing Director Edmund Ainscough says.
Koombana sits along the same Defiance Dolerite-hosted mineralised trend as Lady Herial and Hustler.
Foster-Baker lies within the St Ives gold camp, which has produced more than 18 million ounces of gold since modern production began in the early 1980s.
Lunnon recently completed mining at its Lady Herial open pit, delivering more than 16,300 ounces to Gold Fields under a commercial agreement.
A Scoping Study combining potential mining at Hustler with a Lady Herial cut-back has been deferred until mineral resource models are updated with recent drilling results.
The $13 million FY2027 budget funds the first 12 months of a planned two-year program targeting a project-wide exploration target of 25–30 million tonnes for potential gold of 1.2–2.4 million ounces to 400m depth.
Lunnon Metals is an Australian explorer focused on nickel and gold across the Kambalda Nickel District in Western Australia’s Eastern Goldfields.
Write to JC Villarba at Mining.com.au
Images: Lunnon Metals
