Lunnon Metals Says Drilling at Western Australia Gold Deposit Increases Confidence in Down Plunge Extension of Mineralization, Shares Jump 8%
MT Newswires Live
5 hours ago
Lunnon Metals (ASX:LM8) said drilling results at the Lady Herial gold deposit, part of its Kambalda gold-nickel project in Western Australia, increased confidence that the high-grade gold mineralization extended down plunge, according to a Tuesday Australian bourse filing.
It encountered intercepts of 13 meters at 5.70 grams per tonne grade of gold from 38 meters, as well as 13 meters at 5.63 g/t grade of gold from 53 meters.
The firm will now seek to update the mineral resource estimate and evaluate the economics of a potential cut-back.
Its shares rose 8% in recent trading on Tuesday.
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