Koonenberry launches ground EM survey to advance Atlantis copper-gold hunt

Koonenberry Gold starts Atlantis copper-gold prospect ground EM survey
Survey covers big part of multi-element soil anomaly and is aimed at finding potential accumulations of sulphides
Additional drilling planned at the Bellagio, Royal Oak, and Pipeline prospects

Special Report: Koonenberry Gold has begun ground electromagnetic surveying at the Atlantis copper-gold prospect within its namesake project in NSW.

The EM survey will cover a significant proportion of the multi-element soil anomaly as well as the interpreted contact with the Bittles Tank mafic volcanics, covering around 4km prospective stratigraphy strike.

Koonenberry Gold (ASX:KNB) expects the survey to identify any conductors representing an accumulation of sulphides.

Atlantis is defined by a 6.5km long gold-copper-antimony-arsenic-lead-zinc soil anomaly and rock chips returning up to 15.3% copper and 0.84g/t gold.

The prospect is a doubly-plunging mafic dome akin to the >5Moz Stawell gold mine in Victoria and sits between two fault splays coming off the mantle-tapping Koonenberry Fault.

Similar sequence of sediments and volcanic rock are known to host copper mineralisation at the Wilandra project just 50km to the south.

Most of the 2510km2 Koonenberry project, amounting to a dominant position in the namesake Belt, is considered highly prospective for orogenic gold.

With abundant evidence of gold mineralisation found in multiple bedrock sources, a pipeline of emerging targets and a >200km2 gold nugget field, the source of which has not yet been identified, there is plenty of potential to find significant gold deposits.

KNB_map — Regional airborne magnetic image showing the Koonenberry project. Pic: Koonenberry Gold

Getting a clearer picture

“The Atlantis Prospect has significant potential for gold and copper-gold-lead-zinc mineralisation along the 6.5km long soil anomaly and in geologically prospective areas,” managing director Dan Power said.

“This expanded EM survey will give us a much clearer picture on where mineralised fluids may have accumulated which will assist with future drill targeting.

“Our neighbouring explorers (G11 Resources) have successfully used ground EM to identify copper mineralisation at the Wilandra copper project just 50kms to the south. This gives us confidence to adopt this exploration methodology at Atlantis.”

Results from the EM survey will be assessed in conjunction with the overall data package at Atlantis.

Any identified conductors, which could represent an accumulation of sulphides, would represent priority drill targets for further assessment.

Other activity

KNB is also planning additional drilling on the Bellagio, Royal Oak and Pipeline prospects within the project.

Additionally, it expects to complete the acquisitions of the Enmore and Lachlan projects in December 2024 following its annual general meeting on November 29.

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.