Lanthanein racks up priority Au-Cu-Ni targets for Q4 drilling

MLEM survey over priority targets finalised at Lady Grey
Coincident with surface and downhole anomalies uncovered in April
Adjacent to historic 1.3Moz Bounty gold mine

Special report: Lanthanein Resources has finished surveying priority precious and base metals targets as it preps to perforate Lady Grey with the drill, a prospect sitting in the heart of historic gold country in inland WA.

A moving loop electromagnetic survey across the finalised priority gold, copper, and nickel geochemical targets has now been wrapped up by Lanthanein Resources (ASX:LNR) as it prepares for drilling at the Lady Grey project in the West Australian Yilgarn.

The detailed interpretation highlighted electromagnetic conductor model plates coincident with surface and downhole geochemical anomalies uncovered in April which included a coincident 2km+ gold anomaly and a peak taste of 256ppb Au.

Proven gold territory

While the territory around Covalent Lithium’s Mt Holland mine swiftly became hot property for white gold through a lithium land rush, the area is a proven producer of traditional ounces.

The historic Bounty gold mine pumped out around 1.3 million ounces where Mt Holland now stands, adjacent to Lanthanein’s Lady Grey and Lady Lila prospects.

LNR technical director Brian Thomas said the company was very excited to have finalised the survey lines.

“Particularly the gold targets located along a large regional structural flexure zone in the centre of the tenement which also happens to coincide with the Godzilla geochemical lithium anomaly,” Thomas said.

“We are really excited that the EM conductor plate under MLEM survey line 1 coincides with the 256 ppb Au UFF soil anomaly.

“The Forrestania region is also well known historically for significant gold production from the old Bounty Mine producing ~1.3 Moz Au adjacent to our Lady Grey project tenements.”

Thomas added the company continues to press ahead with the approvals process to get to drilling in Q4 of 2024.

Lady Grey Project tenements, known gold occurrences, the Earl Grey lithium mine, and recently completed MLEM survey lines. Pic: LNR

While the Mt Holland discovery shifted investor focus to the region’s lithium prospectivity, the land was originally acquired by Kidman Resources as a gold play.

Lithium prices have since demonstrated their volatility, with extraordinary returns balanced by crushing lows.

Meanwhile, gold prices have moved from steady to bullish, surging to record highs of around US$2600/oz with the precious metal gaining further steam in recent days after the start of a US rate cutting cycle last week.

This article was developed in collaboration with Lanthanein Resources, a Stockhead advertiser at the time of publishing.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.