High-Grade Drilling at Lady Herial Bolsters Lunnon Metals’ Open Pit Growth Plans

The latest announcement is out from Lunnon Metals Limited ( (AU:LM8) ).

Lunnon Metals has reported multiple thick, high-grade gold intercepts from reverse circulation drilling at the Lady Herial deposit, including standout results such as 13 metres at 9.41 grams per tonne gold and several other substantial intersections on the Upper Structure and the Northwest prospect. These results confirm strong down-plunge mineralisation to the northwest of the planned open pit and enhance the potential for a second-stage pit cut-back within the existing permitted footprint, which could benefit from a reduced strip ratio and the higher prevailing Australian dollar gold price. With key mining and environmental approvals already secured, the company is finalising conditions under its Ore Purchase Agreement and updating its economic assessment from scoping to feasibility level, targeting a materially improved financial outcome versus the earlier study and positioning Lady Herial to become a significant near-term cash generator.

The most recent analyst rating on (AU:LM8) stock is a Hold with a A$0.41 price target. To see the full list of analyst forecasts on Lunnon Metals Limited stock, see the AU:LM8 Stock Forecast page.

More about Lunnon Metals Limited

Lunnon Metals Limited is an ASX-listed resources company focused on the Kambalda Gold & Nickel Project in Western Australia, targeting gold and nickel deposits in the St Ives gold camp. The company is advancing the Lady Herial gold deposit as a priority development and production asset, underpinned by an Ore Purchase Agreement with St Ives Gold Mining Co. Pty Ltd for ore haulage and processing.

Average Trading Volume: 196,817

Technical Sentiment Signal: Buy

Current Market Cap: A$92.69M

For detailed information about LM8 stock, go to TipRanks’ Stock Analysis page.