Lunnon Metals Says Drilling Identifies Gold Structure Northwest Of Western Australia Project, Shares Up 4%

MT Newswires Live

Apr 01

Lunnon Metals (ASX:LM8) said drilling at the Agnes prospect, northwest of the Lady Herial project in Western Australia, identified a new gold structure, according to a Wednesday Australian bourse filing.

It encountered intercepts of three meters at 1.37 grams per tonne grade of gold from 124 meters, as well as eight meters at 1.99 g/t grade of gold from 179 meters.

A total of 38,287 tonnes at 1.56 g/t grade of gold for over 1,750 gold ounces has been signed off with St Ives Gold and made available for collection since mining began.

It is monitoring the impact that fuel price fluctuations could potentially have on operating costs, whilst the average gold price in Australian dollars applicable under the ore purchase agreement with St Ives Gold to date will help to offset any potential increase in operating costs.

Its shares were up 4% in recent trading on Wednesday.

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