Koonenberry’s Prince of Wales crowned with 4km gold trend

Koonenberry Gold has uncovered two gold trends at its Prince of Wales project
POW-Sybil trend stretches 4km while Back Creek has a strike of +1km
Koonenberry’s work programs aim to identify more targets prior to drill testing

Special Report: Initial field activities across Koonenberry’s Prince of Wales asset in the highly prospective Lachlan Fold Belt of NSW have unearthed two gold trends.

Koonenberry has confirmed gold mineralisation along the 4km strike extent of the Prince of Wales-Sybil trend after rock chip sampling at the Sybil, Nicholls and Back Creek prospects returned results of up to 3.37g/t gold.

The Prince of Wales structure has numerous historical workings and test pits from two shafts that were mined in the early 1900s to depths of 170m below surface. Despite this, the area has only received limited shallow drill testing.

Adding further interest, Koonenberry Gold’s (ASX:KNB) sampling returned results of up to 5.26g/t gold from the +1km Back Creek trend.

New and historical rock chips in relation to the POW and Back Creek trends. Pic: Koonenberry Gold

Prioritising additional targets before drilling

“Our preliminary work has highlighted the potential for high-grade gold mineralisation over considerable strike lengths at Prince of Wales,” managing director Dan Power said.

“Despite historic gold production of 26,000oz at 8.7g/t gold and gold identified in historic sampling, the project has received no systematic or modern exploration.

“We are keen to advance our understanding of this project and will plan work to help identify additional targets prior to drill testing.”

Targets along the two trends remain untested by drilling, with the company noting that only 13 rotary air blast holes have been completed across the project. One of these historical holes returned an intercept of 2m at 5.98g/t gold from a down-hole depth of 32m to end of hole.

No systematic modern surface geochemistry has been carried out at the POW trend.

Future plans

Despite significant historical underground workings, the Prince of Wales project remains largely untested by modern exploration techniques.

At the POW-Sybil-Nicholls trend, Koonenberry has planned geochemical work including soil sampling, rock chip sampling and geological mapping, prior to possible detailed drone mag and electrical geophysics to assist with structural interpretations and drill targeting.

At the Back Creek trend, Koonenberry will undertake extensional sampling as well as submitting retained pXRF soil material for gold and multielement analysis.

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.