Structural Complexity at Defiance West Challenges Lunnon Metals’ Gold Exploration Ambitions

• High-grade gold assays from 20m x 20m infill drilling at Hustler
• Two distinct shallow gold mineralised structures identified at Hustler
• Defiance West diamond drilling intersects anomalous silver, copper, zinc
• Government co-funded exploration program supports Defiance West drilling
• Plans underway for further drilling targeting favourable geological zones

Exploration Progress at Hustler

Lunnon Metals Limited (ASX – LM8) has delivered encouraging results from its ongoing exploration at the Hustler prospect, part of its Kambalda Gold & Nickel Project in Western Australia. Recent infill reverse circulation drilling at a 20m by 20m spacing has returned multiple significant gold intercepts, including 20 metres at 1.48 grams per tonne gold, 4 metres at 2.95 g/t, and 3 metres at 1.97 g/t. These results confirm the presence of two distinct mineralised gold structures at shallow depths, a main thicker structure with sub-horizontal components near surface and a secondary gently northwest-dipping footwall structure.

The geological interpretation suggests these drilled widths approximate true widths of mineralisation, enhancing confidence in the deposit's potential. Hustler lies just 400 metres southeast of the Lady Herial deposit, a nearby resource that has demonstrated promising economics in a recent scoping study. Lunnon Metals aims to replicate Lady Herial’s success, which could underpin a modest open pit operation with attractive cash flow potential.

Strategic Next Steps for Hustler

With Program of Works approval now secured, Lunnon Metals plans to extend drilling further east and northeast to test the more favourable Zone 4 geological unit, known to host the majority of gold mineralisation at Lady Herial. Should these efforts prove successful, the company will assess the potential to estimate an initial Mineral Resource for Hustler. This milestone would be pivotal in guiding further infill and step-out drilling, advancing the project towards development.

Managing Director Edmund Ainscough highlighted the value of the tighter drill spacing in refining geological models and expressed optimism about Hustler’s progression towards resource estimation. The prospect benefits from granted mining leases and proximity to existing infrastructure, factors that could accelerate future development.

Defiance West – Structural Complexity and Base Metal Anomalies

Meanwhile, at Defiance West, Lunnon Metals has completed a second diamond drill hole as part of a government co-funded Exploration Incentive Scheme (EIS) program. While no significant gold mineralisation has yet been confirmed in this hole, preliminary assays reveal anomalous silver, copper, and zinc within an iron-sulphide rich sedimentary zone. The hole also intersected the Foster Thrust shear zone earlier than expected, indicating unexpected structural complexity that could be a key factor in future gold deposit formation.

The first diamond hole at Defiance West had intersected notable gold intervals, including 3.4 metres at 3.12 g/t gold. The new geological and geophysical data from the second hole, including downhole transient electromagnetic surveys and optical televiewer logging, will inform future targeting in this largely untested area adjacent to the multi-million ounce Victory-Defiance-Conqueror gold system.

Leveraging Historical Data and Advanced Techniques

Lunnon Metals’ exploration strategy benefits from extensive historical data from previous operators such as WMC and Gold Fields, combined with modern drilling and assay techniques including PhotonAssay and detailed structural logging. The company holds 100% rights to gold in key tenements within the Kambalda Gold & Nickel Project, which is situated in one of Australia’s most prolific gold camps.

With over 20.9 kilometres of drilling completed since early 2024 and ongoing metallurgical testwork, Lunnon Metals is well positioned to advance its portfolio of gold prospects. The company’s approach aims to build a pipeline of resources capable of supporting future mining operations, while also exploring higher-risk targets like Defiance West for potential new discoveries.

Bottom Line?

As Lunnon Metals tightens its grip on Hustler’s gold potential and unravels Defiance West’s complex geology, investors will watch closely for the next phase of drilling and resource updates.

Questions in the middle?

• Will further drilling at Hustler confirm a maiden Mineral Resource estimate soon?
• How will the structural complexity at Defiance West influence future exploration targeting?
• What impact could the anomalous base metals at Defiance West have on the prospect’s economic potential?