Lunnon Metals (ASX:LM8) has updated its nickel JORC 2012 Mineral Resource Estimate (MRE), which has increased to 11,200 contained nickel tonnes for the Warren deposit.
The company reports the Warren MRE currently stands at 445,000 tonnes at 2.5% Ni, comprising the Indicated Resource with 345,000 tonnes @ 2.6% Ni for 8,800 nickel tonnes; and the Inferred Resource with 100,000 tonnes @ 2.4% Ni for 2,400 nickel tonnes.
Lunnon reports the increase in tonnes and nickel metal is a result of 13 reverse circulation (RC) drillholes, totalling over 2,000m, and 25 diamond drill (DD) holes, totalling over 7,300m drilled in 2021 and 2022.
Commenting on the updated MRE, Lunnon Metals Managing Director, Ed Ainscough, says: “We have hit nickel in host positions not previously considered prospective in this area, opening up an exciting new exploration search space.
“We have hit nickel in host positions not previously considered prospective in this area, opening up an exciting new exploration search space”
This discovery has dramatically increased the footprint of nickel mineralisation at Warren, now captured in the increased MRE and the exploration target we reported today.
To test this potential properly, we will likely need to get underground and this MRE provides confidence that Warren will form an important part of the PFS studies for a possible re-start of the Foster nickel mine, from which Warren would be accessed.”
An exploration target between 0.1 million tonnes (Mt) and 0.5Mt grading between 1% Ni and 3% Ni, which has been estimated in areas of the Warren channel and flanking environment that Lunnon has drilled and successfully intersected nickel mineralisation.
Additionally, Lunnon’s Kambalda Nickel Projects’ (KNP) located in Perth has an MRE that now stands at 2.9Mt @ 3.1% nickel for 87,800 contained nickel tonnes.
The company reports that the new MRE plans to form the basis of economic studies to investigate the potential to exploit the Warren deposit, in the future as part of a future Foster PFS.
Lunnon Metals is a mineral resource exploration company and owns two prospective Western Australia projects. The company primarily focuses on nickel sulphide exploration and discovery.
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