Lunnon Metals (ASX:LM8) said it received assay results from the 2024 diamond drilling program at the Lady Herial deposit at its Kambalda gold and nickel project in Western Australia, and two holes confirmed grades greater than 2 grams per tonne of gold and broad widths at shallow depths, according to a Friday Australian bourse filing.
The results are categorized as high-grade, given the shallow to outcropping nature of the mineralization, the filing said.
The next steps include targeted infill drilling at grade control spacing of other potential high-grade zones and completion of a mineral resource estimation and potential open pit optimization.
The firm is continuing its surface gold exploration program, seeking to make more significant discoveries, according to its managing director, Edmund Ainscough.
The firm's shares fell almost 5% in recent trading on Friday.
Price (AUD): $0.20, Change: $-0.0100, Percent Change: -4.76%
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