13m @ 9.41g/t Au Lights Up Gold Potential At Lady Herial
| Stock | Lunnon Metals Ltd (LM8.ASX) |
|---|---|
| Release Time | 13 Jan 2026, 8:22 a.m. |
| Price Sensitive | Yes |
13m @ 9.41g/t Au Lights Up Gold Potential At Lady Herial
- Multiple significant, high-grade results highlight down plunge gold potential
- Consistent, thick, high-grade gold intercepts to the northwest and below current pit design
- Points to tangible upside on Upper Structure beyond current open pit plans
Lunnon Metals Limited (ASX: LM8) is pleased to report on the progress of activities at the Lady Herial gold deposit, a priority development and production opportunity at its Kambalda Gold & Nickel Project (KGNP). Gold assays from down plunge reverse circulation (RC) drilling have returned multiple significant, high-grade results, including 13m @ 9.41g/t Au, 13m @ 4.88g/t Au, 11m @ 3.81g/t Au and 7m @ 7.73g/t Au. These results highlight that thick, high-grade gold mineralisation persists, especially on the Upper Structure, and both it and the Northwest prospect (NWP) remain highly prospective beneath and down plunge of the planned open pit. The Company sees this as an opportunity to consider a second stage of open pit mining at Lady Herial upon the conclusion of the current mine plan, with the chance to complete a cut-back to the northwest boosted by the prevailing high A$ gold price and the thick, high-grade gold mineralisation indicated by the results. The Company is updating its technical and financial analysis of Lady Herial at Feasibility Study level, and the results will be reported when complete.
The June 2025 Scoping Study (applying a gold price of $5,000/oz) recorded that the Lady Herial open pit could deliver approximately $31.3 million (pre-tax). The A$ gold price has risen significantly since June 2025 and the Feasibility Study will be evaluated at a price of at least $6,250/oz, which is estimated to generate approximately $41.7 million (pre-tax).
The Company's strategy at its Foster-Baker gold project is to leverage off, and replicate, the success achieved at Lady Herial. The objective is to position itself to effectively self-fund an extensive discovery program testing higher risk, higher reward targets capable of hosting a significant gold discovery in the +16Moz St Ives gold camp.