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Lunnon Metals Limited ( (AU:LM8) ) has provided an announcement.
Lunnon Metals has reported encouraging reverse circulation drilling results from the Hustler prospect at its Foster-Baker Gold Project, with shallow, thick and moderately high-grade gold intercepts, including 20 metres at 1.66 grams per tonne and 28 metres at 1.02 grams per tonne. The company will now model the defined mineralisation and run open pit optimisation studies at current gold prices to determine whether Hustler justifies further drilling, resource definition and permitting, which could position it as a potential follow-on development to the nearby Lady Herial open pit. In parallel, Lunnon has completed the first diamond hole under a government-supported Exploration Incentive Scheme at the Plentiful prospect, where early work has identified a previously unrecognised differentiated dolerite target between major long-life gold mining complexes, underscoring the broader exploration upside within its leases in the St Ives gold belt.
The most recent analyst rating on (AU:LM8) stock is a Hold with a A$0.51 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 exploration company focused on gold projects within the Foster-Baker Gold Project at St Ives/Kambalda in Western Australia. Its activities target structurally hosted gold mineralisation in dolerite units in a region long dominated by large-scale producers such as Gold Fields, positioning the company as an emerging player in a well-established gold belt.
Average Trading Volume: 234,711
Technical Sentiment Signal: Buy
Current Market Cap: A$101.6M
Learn more about LM8 stock on TipRanks’ Stock Analysis page.