• Lunnon Metals Identifies potential new nickel channel at Long South Gap

  • Jul 12 2024
  • Length: 7 mins
  • Podcast

Lunnon Metals Identifies potential new nickel channel at Long South Gap By cover art

Lunnon Metals Identifies potential new nickel channel at Long South Gap

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  • Lunnon Metals Ltd (ASX: LM8) managing director Ed Ainscough provides Proactive’s Jonathan Jackson with an update on the Long South Gap exploration program at the Silver Lake-Fisher (SLF) Project in the Kambalda nickel district. The Long South Gap, an underexplored 5.8-square-kilometre area, lies adjacent to the historical Silver Lake mine and the Kambalda Dome. Processing and analysis of 3D seismic survey data collected in late 2023 by Southern Geoscience Consultants Pty Ltd (SGC) revealed a previously unrecognised channel feature potentially rich in nickel. This channel is approximately 1-kilometre long, 100-150 metres wide, starting at 670 metres below the surface and plunges at a 40° angle. It is halfway between Wyloo’s McLeay channel and Lunnon’s Silver Lake channels, offset 700 metres from McLeay channel due to the Alpha Island fault. Lunnon has prioritised this area for its geological prospects, focusing on the basal Lunnon Basalt-ultramafic contact and any significant faults. Despite the promising findings, the company will pause new surface nickel exploration activities due to current market conditions and focus on low-cost, near-surface gold exploration at Foster-Baker. Ainscough highlighted the company’s strategy to conserve cash while remaining prepared to resume exploration when market sentiment improves. Meanwhile, low-cost methods, including machine learning, will be explored to further analyse the 3D seismic data. #ProactiveInvestors #ASX #LunnonMetals #NickelExploration #GoldExploration #LongSouthGap #3DSeismicData #MiningUpdates #KambaldaDistrict #SilverLakeFisher #WylooPtyLtd #GeologicalSurvey #NickelDiscovery #ExplorationUpdate #MiningSector #SeismicSurvey #NickelChannel #AlphaIslandFault #FosterBaker #GoldMining #MiningIndustry #MachineLearning #invest #investing #investment #investor #stockmarket #stocks #stock #stockmarketnews
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