KNB eyes bulk tonnage potential at Enmore gold project
Koonenberry hits a thick intersection of gold in sixth hole of drilling at Enmore project, NSW
Company says results both confirm continuity and increase confidence
Koonenberry planning +10,000m further drilling to expand mineralisation, which remains open up and down dip and along strike to the northeast and southwest.
Special Report: Koonenberry Gold has extended mineralisation at the Sunnyside prospect within the Enmore project in NSW, hitting 80.5m at 1.45g/t gold in the sixth hole of drilling.
The 302km2 Enmore project is within the underexplored New England Gold Belt, which hosts the 1.7Moz gold-antimony Hillgrove mine, the 8Moz Ravenswood gold mine, the 7.7Moz and 0.36Mt copper Mt Morgan mine and the 2.5Moz Cracow gold mine.
Notable hits from Koonenberry's previous holes at Enmore's Sunnyside prospect include 18.3m at 9.95g/t gold in hole 1, 5m at 11.09g/t gold in hole 2 and 2m at 13.52g/t gold from hole 4.
The sixth hole at the project has now returned 80.5m at 1.45g/t gold, extending mineralisation by about 40m.
With gold prices sitting above A$5000/oz and this continuation of mineralisation, the company believes the project is shaping up to be a big system with the potential for bulk tonnage and good grades.
'This is an exceptional result from our sixth drill hole at Sunnyside where we continue to demonstrate the potential for bulk tonnage and high-grade gold,' Koonenberry Gold (ASX:KNB) managing director Dan Power said.
'Hole 25END006 is around 40m along strike to the SW from Hole 25ENDD003 which returned remarkably similar true widths and gold grades perpendicular to the first order shear zone.
'This indicates good continuity of mineralisation between sections.'
Results from hole 7 – which contained visible gold – along with assays from holes 8-10, are expected early in Q3.
+10,000m of drilling planned
The company is well funded to continue exploration across its projects with more than 10,000m planned drilling at Enmore, backed by $10.35m cash in the bank.
'Koonenberry Gold awaits results from a further four drillholes from our inaugural drill program at Sunnyside,' Power said.
'Assays from hole 25ENDD007, which also returned visible gold, are anticipated in late early July.
'The remaining holes will be reported as they are received early in Q3 CY2025.'
Power said the next phase of drilling is scheduled to commence in August, weather permitting, and 'will be focused on infill and extensional drilling as well as discovery and growth.'
'Koonenberry Gold is extremely encouraged by the success of its first drill program at Enmore and the developing discovery story,' he said.
In addition to the Sunnyside drilling, results from Koonenberry's ongoing soil program will also be used to plan drilling at other prospects in the district.
This article was developed in collaboration with Koonenberry Gold, 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.
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