Gold Discovery Shaping Up: Lunnon Metals Reports High-Grade Surface Samples and Promising Drill Results
Lunnon Metals Limited (ASX: LM8) has unveiled exciting new gold results from its Foster-Baker project, with surface sampling returning exceptional grades up to 26.81 g/t Au and follow-up drilling further demonstrating the gold potential in the Foster Gold Belt.
High-Grade Halloween Prospect Reveals Gold-Rich Paleochannel
Recent surface sampling at the Halloween prospect has produced outstanding results, with grab samples yielding exceptional gold grades of 26.81 g/t, 19.32 g/t and 17.16 g/t Au. These high-grade findings support a historical aircore drilling intercept of 3m @ 23.52 g/t Au and suggest the presence of a potentially significant paleochannel feature.
The paleochannel appears to have "shed off" gold mineralisation from the nearby Guiding Star prospect, placing scattered high-grade historical aircore results in better context. This discovery reinforces the company's view that Guiding Star may contain a very high-grade component that previous drilling hasn't fully captured.
Additional significant historical aircore intercepts in the Halloween/Guiding Star intersection area include:
- 2m @ 1.00 g/t Au (from 14m)
- 1m @ 3.33 g/t Au (from 17m)
- 1m @ 3.43 g/t Au (from 26m)
Guiding Star Drilling Confirms Mineralisation Potential
Follow-up reverse circulation drilling at Guiding Star has returned encouraging intercepts:
- 21m @ 0.56 g/t Au (from 128m) in hole COE25RC_038
- 16m @ 0.53 g/t Au (from 29m) in hole COE25RC_041
These results, along with previous drilling, suggest the presence of both a shallow, 30-degree east dipping component and a steep north-south striking component to the gold mineralisation. Guiding Star sits within a structural corridor aligned with the interpreted northern extension of the Argo/Apollo corridor, which has historically produced over 1 million ounces of gold.
"These new surface sampling results, along with follow up RC drilling at Guiding Star, are really starting to tease out the opportunity at this southern end of the Foster Gold Belt. Guiding Star sits within an extremely heavily endowed gold corridor, so it is no surprise to see an array of different structural orientations at play as well as a potential paleochannel present that probably followed this same structural trend and helped selectively pick out the very highest grades, now presenting as alluvial gold," said Managing Director Edmund Ainscough.
Understanding Paleochannels in Gold Exploration
A paleochannel is an ancient river or stream channel that has been filled with sediments over time. In gold exploration, these features are particularly significant as they can concentrate alluvial gold that has eroded from primary gold deposits.
At Halloween, the identification of a potential paleochannel containing high-grade alluvial gold suggests that this gold may have been transported from the nearby Guiding Star mineralisation. The channel appears to strike south-southwest from Guiding Star, weaving between past drilling locations.
Historical workings at Halloween include hand-dug shafts sunk through semi-consolidated overburden to depths of 15-20m, where paleochannel alluvial sands and pebbles were encountered. Furthermore, the spoil pile material from these shafts has yielded the impressive gold grades mentioned earlier.
The Foster Gold Belt: An Emerging Gold District
The Foster-Baker project sits within the larger Kambalda Gold & Nickel Project (KGNP), which is located in one of Australia's most prolific gold production centres. The St Ives Gold Mine, which borders Lunnon's project area, has produced over 15 million ounces of gold since the early 1980s.
In May 2025, Lunnon Metals announced its first gold Mineral Resource Estimate for the Lady Herial deposit in the Foster Gold Belt:
| Lady Herial | Tonnes | Au g/t | Au Oz |
|---|---|---|---|
| Measured | 270,000 | 1.9 | 16,600 |
| Indicated | 221,000 | 1.3 | 8,900 |
| Inferred | 82,000 | 1.3 | 3,500 |
| Total | 573,000 | 1.6 | 29,000 |
The Foster Gold Belt prospects, including Guiding Star and Halloween, are hosted in the Defiance Dolerite, a known favourable host for gold in the immediate vicinity. Guiding Star, along with other prospects like Hustler and Koombana, exhibits strong potential to be another "Lady Herial lookalike."
Why Investors Should Watch Lunnon Metals
Lunnon Metals presents a compelling investment case for several reasons:
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Strategic Location: The company's projects are situated in the heart of the Kambalda-St Ives gold camp, one of Australia's most productive gold districts.
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Multiple Gold Targets: Beyond Lady Herial, the company has identified several promising gold discovery prospects along the Foster Gold Belt, including Guiding Star and Halloween.
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Infrastructure Advantage: The project is located on granted mining tenements with significant existing infrastructure nearby, including multiple gold processing plants.
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Exploration Momentum: The company has completed over 17.7km of gold-focused drilling since early 2024, with 273 RC holes and 20 diamond drill holes.
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Dual Commodity Exposure: While currently focused on gold, Lunnon also maintains exposure to nickel resources within its project area.
The latest gold discovery by Lunnon Metals at the Halloween prospect further validates the company's gold strategy and highlights the significant potential that exists within the Foster Gold Belt. With follow-up exploration planned to integrate with other Foster Gold Belt targets, investors should keep a close eye on Lunnon Metals as it continues to advance the Lady Herial Mineral Resource and explore additional gold targets across its promising land package.
The gold discovery by Lunnon Metals represents an important development in the company's strategy to establish itself as a significant player in this historically productive gold region. As the company continues to generate high-grade results across multiple prospects, the potential for further gold discoveries remains substantial. In addition, recent industry developments suggest companies are increasingly exploring historic drill samples to uncover new mineralisation potential, a strategy that could further enhance Lunnon's exploration success.
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