Lunnon Metals (ASX:LM8) said results from the first round of reverse circulation drilling at the Kambalda gold and nickel project in Western Australia confirmed high-grade lode structures, according to a Monday Australian bourse filing.
It has completed over 30 drill holes to confirm and define previously reported high-grade mineralization in the area.
It reported wide intercepts and high grades intersected within the first 35 meters to 40 meters below the surface, including one of 11 meters at 3.38 grams per tonne grade of gold, and one of 15 meters at 3.84 g/t grade of gold.
Its shares fell past 4% on market close on Monday.
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