Source: Lunnon Metals
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Lunnon Metals’ (LM8) Warren diamond hole returns assays of up to 3.5 per cent nickel at 8.7 metres from 353 metres, at its Kimbalda Nickel Project near Kalgoorlie in WA
  • The company notes elevated platinum and palladium assays were recorded for the same intersection
  • The company says tenor of these results at Warren is ‘excellent’ while the DHTEM plate gives it encouragement for follow up drilling
  • Contrary to historical documentation, the company now considers the mineralisation at the project to be an entirely new pod or potentially link with the mineral resource already defined up and down plunge
  • Shares have been up 8.7 per cent, trading at 50 cents

Lunnon Metal’ (LM8) Warren diamond hole has returned assays of up to 8.72 metres of 3.54 per cent nickel from 353 metres, at its Kimbalda Nickel Project near Kalgoorlie in Western Australia.

The intersection also recorded 2.3 metres of 4.4 per cent nickel from 359.4 metres.

The company also notes elevated platinum and palladium assays were recorded for the same intersection, with assays of 0.64 g/t platinum and 1.43 g/t palladium. True widths are estimated to be approximately 90 per cent of the drilled length.

According to the company, tenor of these results at Warren is excellent while the DHTEM plate gives it encouragement for follow-up drilling.

The company says historical documentation referred to the area as a barren flanking zone between more deeply incised nickel pods. That theory has now been disproved, as the company considers the mineralisation to be an entirely new pod, or potentially link with the mineral resource defined up and down plunge.

The DHTEM modelled plate will now be targeted by “daughter” holes to be wedged off this parent hole.

Shares were up 8.7 per cent, trading at 50 cents at 12.22 pm AEDT.

LM8 by the numbers
More From The Market Herald

" Chalice Mining (ASX:CHN) maintains strong focus on top-tier Gonneville deposit

ASX 200-listed Chalice Mining (ASX:CHN) has had a rocky day on the ASX following the release…
Credit Clear (ASX:CCR) - CEO, David Hentschke

" Credit Clear (ASX:CRR) to boost revenue by $2m with new clients

Receivables management solution provider Credit Clear (CCR) has signed two new clients which are set to boost revenue by between $1.6 million and...

" PointsBet (ASX:PBH) losses extend to $51.8m

PointsBet (ASX:PBH) has reported $51.8 million in cash outflows for its quarterly update as the company…
Imugene (ASX:IMU) - CEO, Leslie Chong

" Imugene (ASX:IMU) signs clinical trial agreement with Roche for lung cancer

Imugene (ASX:IMU) signs a clinical trial supply agreement with Roche to evaluate the combination of treatments…