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Lunnon Metals Limited ( (AU:LM8) ) has shared an update.
Lunnon Metals has reported strong reverse circulation drilling results at the Paringa West prospect within its Foster-Baker Project at St Ives, including 8 metres at 5.52 g/t gold and 6 metres at 1.49 g/t gold, confirming a newly interpreted, gently northwest-dipping mineralised structure in favourable host rocks analogous to those of major nearby deposits. The new intercepts define an initial target area of at least 180m by 200m that remains open and untested to the northwest, reinforcing the prospectivity of Lunnon’s St Ives tenements and supporting its strategy to replicate the success at Lady Herial, fast-track additional near-mine gold opportunities and potentially self-fund a broader high-impact exploration program in the heart of the St Ives gold camp.
The most recent analyst rating on (AU:LM8) stock is a Hold with a A$0.40 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 Australian exploration company focused on gold and nickel, with a 23 sq km tenement package in the St Ives/Kambalda region of Western Australia. The company is currently concentrating its efforts on gold exploration at its Foster-Baker Project, including the Lady Herial deposit and surrounding high-priority targets within the +16 million-ounce St Ives gold camp, aiming to leverage nearby processing infrastructure and historical production to build a pipeline of gold discoveries and developments.
Average Trading Volume: 187,983
Technical Sentiment Signal: Buy
Current Market Cap: A$89.34M
For a thorough assessment of LM8 stock, go to TipRanks’ Stock Analysis page.