Koonenberry Gold flags up to 11.09g/t gold within 172.9m intersection at Sunnyside

• Koonenberry Gold records up to 11.09g/t gold at Enmore project’s Sunnyside prospect
• Project lies in relatively underexplored section of New England Fold Belt in NSW
• Results from third and fourth drill hole – which also intersected visible gold – expected late April and early May
• ~1,350m of drilling remains in the current program, with Koonenberry planning follow-up diamond drilling at Sunnyside

Special Report: Koonenberry Gold’s second diamond drill hole from Sunnyside prospect at its Enmore gold project in northeast NSW returned a 172.9m intersection from 171m including 5m at 11.09g/t gold.

The project is in the New England Fold Belt (NEFB) and about 20km from Larvotto Resources (ASX:LRV) Hillgrove gold-antimony mine (1.7Moz gold).

This belt is home to several large deposits including the Ravenswood mine (8Moz gold), Mt Morgan mine (7.7Moz gold, 360,000t copper) and Cracow mine (2.5Moz gold).

Yet, despite its prospectivity – and total endowment of 35+Moz gold, the belt remains relatively underexplored.

Koonenberry Gold (ASX:KNB) is seeing the potential, with the latest diamond hole returning:

• 76m at 1.17g/t gold from 22m; and
• 9m at 2.07g/t gold from 171m, including 25m at 5.23g/t from 195m, including 5m at 11.09g/t from 213m.

This represents a 357.9 gram-metre interval, surpassing a 297.5 gram-metre interval logged in Koonenberry’s first diamond drill hole at Sunnyside, reported earlier this month.

These results highlight the potential of the system to host broad intervals of relatively shallow gold mineralisation, as well as high-grade gold zones at depth.

The assays only include Screen Fire Assays (SFA) for a portion of the higher-grade interval where visible gold was observed. KNB has submitted all assays reporting >1g/t by fire assay for SFA and could potentially be upgraded by +50%.

Shallow bulk-tonnage potential

KNB managing director Dan Power said:  “We thought the results announced for our first drill hole were exciting, but this 25m step-out of hole has turned out to be even better showing an apparent 35m vertical continuity on this section,” he said.

“In addition, we have extended the depth of mineralisation from 240m to 275m vertically from surface which remains open at depth and along strike.

“As reported previously, samples from holes 25ENDD003 and 004, are at the lab and we now anticipate reporting on these in late April-early May respectively.

“Both holes intersected zones of visible gold as well as alteration and veining consistent with that observed in holes 001 and 002 associated with the broader zones of mineralisation.”

KNB will use results from the program to design follow-up diamond drilling to test the continuity of mineralisation at Sunnyside in multiple directions, including along the 125m x 550m prospective structural corridor.

Results from soil sampling 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.