Lunnon MetalsASX:LM8 Stock Report

Lunnon Metals Limited to Provide Additional Details in Relation to its Historical Drill Core Retrieval Programme

Lunnon Metals Limited (the 'Company' or 'Lunnon Metals') to provide additional details in relation to its Historical Drill Core Retrieval Programme. As communicated in the Company's Prospectus and recent Annual Report (lodged 11 June 2021 and 3rd September 2021 respectively), this is a key element of the strategy to grow the Company's JORC 2012 compliant Mineral Resource and complements the current surface exploration programme at the Kambalda Nickel Project ("KNP"), itself seeking to discover new and extensional sources of nickel mineralisation. The Company has successfully recruited an additional geologist to focus exclusively on this important programme. The initial focus will be at the Foster mine and will target nickel mineralised surfaces that remained at the time of mine closure by WMC in 1994 and that are proximal to the Mineral Resources already reported by Lunnon Metals at 85H and Foster South. The historical documentation prepared by WMC for these mineralised surfaces is of the higher quality and includes: Significant quantities of historical surface and underground diamond drill core, where the remaining half, or quarter core, of the intercepts previously sampled for nickel are retained and catalogued at the extensive Kambalda Core Yard; Laboratory pulp residue samples preserved for those intercepts historically assayed by WMC; Digital drilling and assay database with supporting hardcopy geological logs; and An extensive suite of detailed geological cross sections, plans and long section which Lunnon Metals has now scanned and registered in 3D, dramatically simplifying the confirmation of the previous 2D geological interpretation and thereby expediting the process of estimating and then reporting new JORC 2012 compliant resources where appropriate and warranted. The Lunnon Metals' process includes geological re-logging of representative historical drill holes then selective re-sampling of remaining nickel mineralised core, with insertion of industry standard quality assurance, quality control measures e.g. standards and blanks. Accurate measurements of specific gravity and other geo-metallurgical data are also collected; data that was not routinely completed by WMC during the operational life of these mines due to the WMC technical team's then decades long continuous geological knowledge of similar Kambalda nickel deposits. Where drill core is not available or not fit for purpose the historical pulp residues can be used. Geological interpretation of the nickel surfaces is followed by grade estimation for nickel and other associated relevant elements such as copper, iron, magnesium (and thus their ratio), cobalt and sulphur, amongst others. The Company intends to manage all geological data collection, interpretation and 3D solid modelling internally whilst making use of industry consultants to complete the grade estimation. Subject to the timing of the receipt of the re-sampling assay results and the outcome of the interpretation and estimation process, the Company hopes to be able to report regular updates to its Mineral Resource as each surface, or group of surfaces, are completed. As the Annual Report detailed, in total WMC documented over 55 individual nickel surfaces at the Foster Mine which themselves were subdivided into over 160 sub-surfaces or sub-blocks dependent on the stratigraphic host to the nickel mineralisation and its position both in the mine and with respect to the main komatiite-basalt contact. The programme starts with investigation of the N14C, the N18C, the N71C and the N75C. These surfaces, hatched red, are located in the area of the mine termed the Foster Main and are located on the upper trough margin or flanking area proximal, and along the access route, to the 85H surface, which has already under gone this process and been reported as a Mineral Resource in accordance with the JORC 2012 Guidelines. For additional context, to date, the programme has been successfully applied to the Foster South, 85H and Warren nickel shoots (these areas of the Foster mine account for 13 sub-surfaces).

Lunnon Metals Limited (ASX:LM8) completed the acquisition of remaining 49% stake in Kambalda Nickel Project from St. Ives Gold Mining Company Pty Limited.