Lunnon Metals reports a 20% increase in gold ounces at its Hustler deposit, now 36,200 ounces, with plans to integrate mining alongside Lady Herial. Ongoing studies and strong infrastructure underpin a promising path to production.
- Hustler gold resource up 20% to 36,200 ounces
- Total resource now 826,000 tonnes at 1.4 g/t Au
- Lady Herial open pit mining continues with 43,100 ounces remaining
- Scoping study underway for Hustler open pit development
- Metallurgical tests indicate 91% gold recovery consistent with Lady Herial
Hustler Resource Grows Amid Active Mining at Lady Herial
Lunnon Metals Limited (ASX:LM8) has delivered a solid boost to its Hustler gold deposit, increasing the Mineral Resource Estimate (MRE) by 20% in ounces and 21% in tonnes. The updated resource now stands at 826,000 tonnes grading 1.4 g/t gold for 36,200 ounces, up from 30,200 ounces in March 2026. This growth comes after extensive drilling and modelling work, reinforcing Hustler’s position as a key asset within the company’s Kambalda Gold & Nickel Project (KGNP).
Meanwhile, the adjacent Lady Herial open pit remains in production, with mining depletion reducing its resource to 651,000 tonnes at 2.1 g/t gold for 43,100 ounces. Lady Herial’s Ore Reserve, also depleted by mining, holds 82,700 tonnes at the same grade for 5,600 ounces. Gold ore from Lady Herial is currently being purchased by St Ives Gold Mining Co. Pty Ltd (SIGM), a subsidiary of Gold Fields Limited, under an Ore Purchase Agreement (OPA), highlighting ongoing commercial collaboration.
Scoping Study and Development Synergies with Lady Herial
Lunnon Metals is fast-tracking a scoping study to assess the economic potential of mining Hustler, with a particular focus on integrating it with any second stage of open pit mining at Lady Herial. The deposits are located only 400 metres apart, with Hustler readily accessible via existing haul roads and infrastructure established at Lady Herial. This proximity offers opportunities to share costs, optimise mining schedules, and leverage existing processing facilities.
Managing Director Edmund Ainscough emphasised the strategic value of these assets: “Hustler and a possible cut-back at Lady Herial are sitting in pole position as the next potential development opportunities. The current Lady Herial open pit has been a big success and financial enabler. We will continue to fast track the permitting of the two new opportunities and in parallel discuss ongoing collaboration with our current partners; SIGM, Hampton Mining & Civil and Goldfields Technical Services, with a view to reproducing that success in FY2027.”
Metallurgical Confidence from Lady Herial Parallels
Metallurgical test work at Hustler is underway, following the drilling of three dedicated diamond drill holes. Preliminary results indicate a recovery factor of 91%, mirroring the high gold recoveries achieved at Lady Herial, which averaged 91.4% over a 12-hour residence time. This consistency is underpinned by the deposits’ shared geological setting within the Defiance Dolerite and similar mineralisation styles.
The company’s approach benefits from the existing commercial framework with SIGM, which includes agreed haulage and processing rates under the OPA. This arrangement reduces upfront capital requirements and supports a streamlined path to production.
Robust Resource Classification and Geological Understanding
The Hustler MRE is classified into Indicated and Inferred categories, with 171,000 tonnes at 1.3 g/t Au (7,000 ounces) indicated and 655,000 tonnes at 1.4 g/t Au (29,200 ounces) inferred. Drill spacing and geological continuity support this classification, with recent infill drilling improving confidence in the deposit’s extent and grade distribution.
The deposit features stacked lenses dipping gently northwest, open down plunge, and remains open for further expansion. The reporting cut-off grade of 0.5 g/t Au reflects current gold prices and mining economics, supported by open pit optimisation studies similar to those completed at Lady Herial.
Kambalda/St Ives Gold Camp Provides Proven Backdrop
Both Hustler and Lady Herial sit within the prolific Kambalda/St Ives gold camp, a region that has produced over 18 million ounces of gold and 1.6 million tonnes of nickel. The KGNP comprises granted mining leases with extensive existing infrastructure, including proximity to the Lefroy Gold Plant operated by SIGM, just 7 kilometres north of Hustler and Lady Herial.
This established mining district, combined with Lunnon Metals’ growing resource base and strong cash position, positions the company well to capitalise on near-term development opportunities. The company has committed $13 million to an aggressive FY2027 drill campaign, aiming to further delineate resources and advance permitting.
Bottom Line?
Lunnon Metals’ resource upgrade and integrated development strategy for Hustler alongside Lady Herial set the stage for a potentially efficient, low-capital gold operation, though final economics hinge on upcoming scoping study outcomes and metallurgical confirmations.
Questions in the middle?
- How will fluctuations in the Australian dollar and gold price impact the economic viability of Hustler and Lady Herial mining plans?
- What are the timelines and key hurdles for permitting Hustler, given the recent experience at Lady Herial?
- Could further drilling convert more of the inferred Hustler resource to indicated or measured status, unlocking higher confidence for reserve declaration?