Lunnon Metals (ASX:LM8) reported a first-time mineral resource estimation for its Lady Herial gold deposit, its first gold discovery at its Kambalda gold-nickel project in Western Australia, according to a Wednesday Australian bourse filing.
The initial mineral resource is 573,000 tonnes at 1.6 grams per tonne grade of gold for 29,000 ounces, which includes 270,000 million tonnes at 1.9 g/t grade of gold for 16,600 ounces in the measured resource category.
It plans to permit and mine the deposit as soon as possible, and it is working to advance the deposit.
Its shares fell over 2% in recent trading on Wednesday
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