Lunnon Metals Limited (ASX: LM8) has released an initial nickel JORC (2012) Mineral Resource estimate (MRE) for the Silver Lake Hanging Wall prospect (SLHW) in WA.
The deposit will be renamed the 25H deposit (25H) to mirror the historical name for this mineralisation from the mine’s operational period under WMC Resources Ltd (WMC).
The 25H is located at the south end of the Silver Lake mine, at the Kambalda Nickel Project (KNP). This first-time MRE follows receipt of final assays from the company’s first pass surface diamond drill (DD) program into the deposit. The 25H MRE stands at 824,000 tonnes at 1.7% nickel for 13,800 contained nickel tonnes, comprising:
- 336,000 tonnes @ 1.6% Ni for 5,300 nickel tonnes in Indicated Resource; and
- 488,000 tonnes @ 1.7% Ni for 8,500 nickel tonnes in Inferred Resource.
This result increases Lunnon Metals’ global MRE across the KNP to 3.7 million tonnes @ 2.7% nickel for 101,600 contained nickel tonnes1. Key implications of this initial 25H MRE include:
- Demonstration of potentially economic mineralisation on the Silver Lake – Fisher (SLF) project for the first time, since the deal to acquire the nickel rights from Gold Fields Ltd on these tenements settled in October 2022.
- Development of an initial Mineral Resource base immediately adjacent to the Company’s high-priority Long South Gap exploration area, the site of the recently completed, extensive 3D seismic survey by UltraMag Pty Ltd.
- Potential remains for high-grade shoots to be contained within the broad 30m to 170m current surface DD hole spacing.
This is the first Mineral Resource declared at the Silver Lake-Fisher project since we acquired the rights in October 2022,” Managing Director, Edmund Ainscough, said.
“Reporting this result for the 25H deposit at the historic Silver Lake mine, Kambalda’s very first nickel mine, is an important first step in demonstrating the rich potential of these assets that lay dormant inside a gold major for so long.
“The 25H is right next door to the company’s highest priority discovery program at Long South Gap, where we eagerly await the outcome of the target generation exercise based on the recently completed 3D seismic survey.
“Our approach at Silver Lake will be to grow this initial Mineral Resource through the ongoing Historical Core Programme, continued extension and definition of areas like 25H and hopefully a brand new discovery in Long South Gap, an area untested for nickel despite being within one of Australia’s most prolific nickel camps on the famous Kambalda Dome”.
