Koonenberry Gold makes it five for five with more visible gold at Enmore

• KNB reports multiple zones of visible gold in fifth diamond drill hole at Enmore project in New South Wales
• Visible gold was also observed in the first four holes
• Gold mineralisation now extended down to 300m below surface
• Drilling ongoing and further assay results expected shortly

Special Report: Koonenberry Gold has intersected multiple zones of visible gold in the fifth diamond drill hole at its Enmore project in northeast NSW.

The project covers around 302km2 in the New England Fold Belt (NEFB), a prospective region hosting 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.

Despite its clear prospectivity and total endowment of +35Moz gold, the NEFB remains underexplored, particularly on the NSW side.

Koonenberry Gold (ASX:KNB) has now found visible gold in multiple zones from 262.6m to 370.18m in the fifth diamond drill hole at the project. This makes it five for five – with gold also spotted in the previous four holes.

Initial results from the first two holes in this program returned:

• 170m at 1.75g/t gold from 77m, including 18.3m at 9.95g/t from 172.9m; and
• 172.9m at 2.07g/t gold from 171m, including 25m at 5.23g/t from 195m and 5m at 11.09g/t from 213m.

Koonenberry is awaiting results from the third and fourth holes.

The company said the latest results provided further evidence of the potential to host broad intervals of relatively shallow gold mineralisation as well as high-grade gold zones at depth.

Diamond drilling ongoing

Drilling is continuing at the project with hole 25ENDD006 underway. KNB expects to complete ~1,000m of more drilling, if the program is not extended further.

“Hole 25ENDD005 was a 64.5m step-back from hole 004 so it is significant that we are seeing alteration, veining, sulphides and visible gold over considerable widths,” KNB managing director Dan Power said.

“In addition, the visible gold zones observed in this hole are ~100m underneath those seen in hole 25ENDD004 meaning that we have now extended the depth of mineralisation to ~300m from surface.

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

“We have now also commenced hole 006 and have ~1,000m of our current program remaining, at which time we will determine our next steps at Enmore, which may include additional drilling.”

Results from this program will be used to design follow-up diamond drilling to test the continuity of mineralisation at the Sunnyside prospects in multiple directions, including along the 125m x 550m prospective structural corridor.

KNB will also use results from a soil program 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.