–News Direct–
Lunnon Metals Ltd managing director and CEO Edmund Ainscough joins Proactive's Stephen Gunnion with more on the company's exploration success at one of Australia's oldest nickel mining towns.
Ainscough said the ASX-listed company is positioned on 50 square kilometres of land within the Kambalda nickel belt of Western Australia, a region with a history of 1.6 million tonnes of nickel mined since its discovery in 1966. In just over two years, Lunnon Metals has conducted 85 kilometres of drilling, leading to a discovery named Baker, and reported a mineral resource of over 109,000 nickel tonnes at 2.7% grade.
Additionally, Lunnon Metals is exploring gold prospects within the same region, leveraging the 25 square kilometres of land it holds in a renowned gold belt. The company has shifted focus temporarily from nickel to explore gold targets, with positive initial drilling results.
A preliminary feasibility study (PFS) for the nickel deposit is underway, with completion aimed for the second quarter of 2024 – though dependent on external factors including decisions by BHP regarding its nickel operations in Western Australia.
The company also acquired nickel rights to the Silver Lake Fisher project from Goldfields, presenting additional exploration opportunities.
Despite subdued nickel market sentiments, Ainscough remains optimistic about the economic viability of Lunnon Metals' high-grade nickel deposits.
Upcoming milestones include on the gold exploration results and the comprehensive PFS for the nickel projects, alongside developments influenced by external factors in the nickel industry.
Contact Details
Proactive Australia Pty Ltd
Proactive Australia Pty Ltd
+61 431 597 771
writers.australia@proactiveinvestors.com
View source version on newsdirect.com: https://newsdirect.com/news/lunnon-metals-advances-nickel-and-gold-exploration-in-australias-prolific-kambalda-district-729068558
Lunnon Metals Ltd
COMTEX_449909672/2655/2024-03-27T07:52:52
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