Lunnon Metals has uncovered a new gold mineralised structure at its early-stage Benmore target within the St Ives gold camp, delivering a notable 17.86m intercept grading 0.61 g/t Au as part of its $13 million FY2027 exploration program.
- New 40m wide gold structure intersected in third hole at Benmore
- Significant 17.86m @ 0.61 g/t Au assay with high-grade intervals up to 8.37 g/t Au
- Benmore drilling part of $13M FY2027 Foster-Baker exploration program
- Exploration Target of 25-30Mt at 1.5-2.5 g/t Au for 1.2-2.4Moz gold
- Further assays and drilling underway to define mineralisation extent
Early Drilling at Benmore Uncovers New Gold Structure
Lunnon Metals (ASX:LM8) has struck a promising new gold mineralised structure at its Benmore target, part of the Foster-Baker gold project nestled in Western Australia’s prolific St Ives gold camp. In just the third diamond drill hole of its $13 million FY2027 exploration program, the company intersected a broad shear zone estimated at 40 metres true width containing multiple quartz-carbonate breccias and veins typical of the St Ives style.
The standout assay from this interval was 17.86 metres at 0.61 grams per tonne (g/t) gold, including narrower zones with grades spiking up to 8.37 g/t Au over 0.36 metres and 7.26 g/t Au over 0.32 metres. Visible gold was observed in the core, though assays suggest a nugget effect, with a logged interval showing visible gold but only 0.92 g/t Au. These early results hint at a complex mineralisation system that warrants further investigation.
Benmore: An Underexplored Conceptual Target
Benmore lies about 1.7 kilometres north of Gold Fields’ Athena and Hamlet underground gold mines, an area historically overlooked for gold exploration due to a past focus on nickel mining by WMC Resources and the presence of gold processing infrastructure. Lunnon Metals’ drilling is designed to test east-dipping structures similar to those that host the nearby underground deposits.
The initial diamond drilling program at Benmore comprises a series of holes spaced along an 800-metre east-west section. The new mineralised structure was intersected in hole JAN26DD_011, starting around 250 metres downhole. A follow-up hole 90 metres west (JAN26DD_012) encountered a narrower shear zone with less favourable mineralisation, with assays still pending.
Exploration Target and Program Ambition
This drilling is the opening salvo of a two-year, $26 million exploration campaign targeting an Exploration Target of 25 to 30 million tonnes averaging 1.5 to 2.5 g/t gold, for a potential 1.2 to 2.4 million ounces within the Foster-Baker area. The Exploration Target is conceptual and subject to significant uncertainty, with further drilling and analysis required to confirm any resource potential.
Lunnon Metals’ Managing Director Edmund Ainscough highlighted that the FY2027 program is self-funded by cash flow from the recently completed Lady Herial open pit, allowing the company to aggressively explore its ground in one of Australia’s most renowned gold districts. He noted the significance of intersecting a new mineralised structure so early in the Benmore drilling campaign, especially in an area previously hindered by surface infrastructure.
Technical Approach and Next Steps
The company is conducting a comprehensive drilling approach including reverse circulation, diamond drilling, and aircore to generate geological and structural data. The current focus is on defining the orientation, dip, and extent of the new gold-bearing shear zone. Assays remain outstanding for the rest of the shear zone in JAN26DD_011 and other holes on the section, with further drilling planned to refine the geological model and identify additional targets.
These efforts will feed into enhanced 3D geological models to guide subsequent drilling campaigns. Given the early-stage nature of Benmore, the company is cautious but optimistic about the potential to add to its existing Mineral Resources, which include the Lady Herial and Hustler deposits.
Context Within the St Ives Gold Camp
The Foster-Baker project sits within the St Ives gold camp, a world-class gold-producing region that has yielded more than 18 million ounces of gold historically. Nearby mines operated by Gold Fields and others underscore the district’s prolific nature. Lunnon Metals holds 100% of the gold rights over Foster-Baker except in defined excluded areas, positioning it well to capitalize on new discoveries.
Recent mining at Lady Herial has generated strong cash flow, underpinning the exploration budget and enabling a sustained push into early-stage targets like Benmore. The company’s strategic focus on gold, shifting from a prior nickel emphasis, aligns with its ambition to grow its resource base in this highly prospective terrain.
Bottom Line?
Benmore’s early drilling success injects fresh momentum into Lunnon Metals’ FY2027 exploration, but defining the extent and economic potential of this new gold structure will require patient follow-up and assay results.
Questions in the middle?
- Will further drilling confirm continuity and scale of the Benmore mineralised structure?
- How might the nugget effect impact resource estimation and sampling representivity at Benmore?
- What are the metallurgical characteristics of the new mineralisation compared to Lady Herial?