Koonenberry chases repetitions of major gold find at Enmore

• Koonenberry has mobilised a second drill rig at Enmore, accelerating ongoing exploration
• A 2000m RC program is underway to test the 2km shear zone from Sunnyside to Hand in Hand
• Drilling will test robust gold and arsenic soil anomalies and high-grade rock chips up to 17.55g/t Au

Special report: Koonenberry is ramping up exploration at its Enmore gold project in northeast NSW, mobilising a second drill rig to fast-track works across one of the region’s most promising gold corridors.

A 2000m RC program is now underway, designed to test a 2km shear zone stretching from the Sunnyside prospect to Hand in Hand, an area where gold and arsenic soil anomalies, high-grade rock chips and IP geophysical data point to a series of compelling targets.

Koonenberry (ASX:KNB) is aiming to uncover potential repetitions of the broad, high-grade mineralisation already intersected at Sunnyside.

That gold find supercharged interest in KNB when it hit a 170m intersection at 1.75g/t gold in April, including 18.3m at 9.95g/t Au.

Historical drilling in the corridor between there and Hand in Hand has delivered encouraging results, including 6m at 2.67g/t gold from 4m and 82m at 0.17g/t gold from 6m – reinforcing the untapped potential to make further discoveries.

Chasing depth and strike extensions

With the current diamond drill program at Sunnyside focused on depth and strike extensions to mineralisation, KNB managing director Dan Power said the second drill rig will focus on discovery drilling along the 2km shear zone from Sunnyside to Hand in Hand, where Koonenberry sees potential for “Sunnyside-style” repetitions.

“Four target areas have been defined along this trend with coincident gold and arsenic soil anomalies, favourable geology and structures at the contact between the granite and sediments,” Power said.

“High-grade rock chips up to 17.55g/t gold and limited historical drilling with encouraging results add to the prospectivity of these targets.”

Survey to guide structural interpretations

The Enmore project is situated in NSW’s New England Fold Belt, 30km from Armidale.

It’s a region that remains underexplored despite having an endowment of more than 35Moz of gold.

This belt is home to several large deposits including the Ravenswood mine (8Moz gold), Mt Morgan mine (7.7Moz gold, 36,000t copper) and the Cracow mine (2.5Moz gold); with Enmore just 20km from the Hillgrove gold-antimony mine (1.7Moz gold).

Hillgrove’s asset was the subject of a rejected $723m takeover bid from a US antimony producer just last month.

In parallel to the upcoming drilling campaign, soil sampling and prospecting along the Borah Shear Zone – a similar structure to Sunnyside – has defined a suite of additional gold targets.

A gradient array IP survey is being planned to refine structural interpretations and prioritise the next round of drilling.

With $7.8m cash in the bank, Koonenberry is well funded to continue exploration across its projects.

Shareholders can expect a steady stream of updates as work at Enmore and beyond accelerates.

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.