How Far Can Lunnon Metals Push Plentiful Gold Beyond 450m?

Exploration Success at Plentiful

Lunnon Metals Limited (ASX – LM8) has unveiled encouraging results from its recent reverse circulation drilling campaign at the Plentiful gold prospect, part of its broader Kambalda Gold & Nickel Project (KGNP) in Western Australia. The company reports that the mineralised structure at Plentiful has now been extended to over 450 metres in dip direction, a significant increase from previous estimates.

The drilling has revealed consistent widths of gold mineralisation, with intercepts such as 10 metres at 1.23 grams per tonne (g/t) gold and a standout 1 metre at 14.90 g/t gold. While the grades are generally modest, the thickness and continuity of the mineralised zones suggest a robust geological system. Notably, an 8-metre intercept grading 0.75 g/t gold was encountered more than 200 metres down plunge from prior drilling, highlighting the potential depth extent of the deposit.

Strategic Location and Scale

Plentiful sits within a 600-metre-long geophysical magnetic anomaly identified as a differentiated dolerite within the Paringa Basalt stratigraphy. This positions it approximately 3 kilometres south-southwest of Gold Fields’ Victory-Leviathan gold complex and about 4 kilometres northwest of the Argo-Apollo gold complex, both historically significant mining centres. The proximity to these established operations underscores the prospect’s potential and the strategic value of Lunnon Metals’ tenure.

Managing Director Edmund Ainscough emphasised the importance of these results, noting that Plentiful had been on the back burner while the company focused on advancing the Lady Herial deposit. The new drilling results not only improve near-surface gold definition but also extend mineralisation significantly down plunge, suggesting a larger and more complex system than previously understood.

Next Steps and Development Pipeline

Lunnon Metals plans to test the economic viability of the Plentiful mineralisation through further drilling, including a diamond drill hole scheduled under the Western Australian government’s Exploration Incentive Scheme. This deeper drilling will help refine the geological model and assess potential for resource expansion.

The company’s broader strategy involves leveraging the success at Lady Herial, which recently completed a scoping study indicating a modest open pit could generate significant cash flow. Plentiful, along with other prospects such as Hustler and Defiance West, forms part of a growing development pipeline aimed at discovering the next major gold deposit within the prolific St Ives gold camp.

Additionally, Lunnon Metals has secured an Ore Purchase Agreement with St Ives Gold Mining Co. Pty Ltd, enabling processing of future gold production from Lady Herial at their nearby plant, a move that could streamline future operations and reduce capital expenditure.

Context Within the Kambalda Gold & Nickel Project

The KGNP covers approximately 47 square kilometres in a world-renowned gold and nickel district with a rich mining history dating back to the late 19th century. The area has produced over 16 million ounces of gold and 1.6 million tonnes of nickel metal, making it one of Australia’s most prolific mining camps. Lunnon Metals holds 100% rights to gold and nickel on various tenements within the project, with strong infrastructure and access to established processing facilities nearby.

The company’s exploration approach combines modern drilling techniques, rigorous sampling protocols, and detailed geological modelling, supported by historical data from previous operators such as WMC and Gold Fields. This comprehensive strategy underpins the confidence in the reported results and future exploration potential.