Lunnon Metals (ASX:LM8) has discovered a new gold mineralised structure at its Benmore prospect, part of a $13 million exploration program at Foster-Baker in Western Australia.
The discovery came from the third diamond drill hole at Benmore, with an interval returning 17.86m @ 0.61 grams per tonne gold (Au) from an estimated 40m true width structure. Individual grades within the interval range from 0.03g/t Au up to 8.37g/t Au over 0.36m, displaying multiple breccia and vein structures.
The intersection occurred in hole JAN26DD_011, which encountered roughly 90m of sheared and foliated basalt and dolerite from 250m downhole, enclosing a central interval of quartz-carbonate breccias and veins.
The Benmore prospect sits approximately 1.7km north of Gold Fields’ (NYSE:GFI) Athena and Hamlet underground gold mines within the St Ives gold camp.
At cut-off grades of 0.5g/t Au and 1.0g/t Au, key intersections within the full 17.86m interval include 1.37m @ 3.03g/t Au from 302.07m and 8.67m @ 0.70g/t Au from 309.59m. Visible gold was also logged within the central zone at 302.25m downhole.
Follow-up diamond drilling 90m west intersected a narrower shear zone between 87m and 133m downhole. Assays remain pending as detailed logging and sampling continue.
According to Lunnon, the $13 million FY2027 program represents the first stage of a two-year initiative targeting a project-wide exploration target of 25 million tonnes (Mt) to 30Mt at 1.5–2.5g/t Au for 1.2 million ounces (Moz) to 2.4Moz down to 400m depth.
The company says it will continue technical analysis to determine the structure’s orientation, dip, plunge, and extent while advancing drilling across other targets at Foster-Baker.
Lunnon Metals is a gold and nickel explorer and developer focused on its 100%-owned Foster-Baker project located within the Kambalda and St Ives gold camps in Western Australia.
Write to Paula Fabe at Mining.com.au
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