Koonenberry Gold steps up NSW gold-copper exploration blitz

• Two rigs are working along Wilga Flats’ Olaf’s Trend
• Three Breakfast Creek skarn targets are being prepared for drilling
• Gundagai fieldwork has started ahead of soil sampling at Big Ben

Special Report: Koonenberry Gold is advancing exploration across several fronts in NSW, with drilling underway at Wilga Flats, new skarn targets emerging at Breakfast Creek and fieldwork starting at Gundagai.

At Breakfast Creek, mapping, infill soil sampling and reprocessed electromagnetic data have helped define three polymetallic skarn drill targets at Balbardie and Bimberoo.

Soil sampling has refined a more than 1.8km copper-polymetallic anomaly beside an unexplained magnetic high at Balbardie, while a modelled 400m by 200m electromagnetic conductor remains untested.

Bimberoo hosts separate copper-gold and tin-indium-tungsten target areas, supported by soil anomalies, mapped skarn alteration and untested electromagnetic conductors.

New rock chip sampling has also returned grades of up to 19.05% copper at Tara and 3.22% copper at Balbardie, adding to previous copper and gold results.

Koonenberry Gold (ASX:KNB) management say the combined work has established priorities for possible skarn systems, with drilling preparations and permitting well advanced.

“The latest results at Breakfast Creek have strengthened our understanding of the project’s polymetallic potential, with high-grade copper rock chips supported by refined soil anomalies, skarn-style alteration and previously untested EM conductors emerging from our latest field work,” executive chairman Paul Harris said.

Drilling and target work gather pace

At Wilga Flats, three RC holes for 744m have been completed along the Olaf’s Trend, with samples from the first three holes at the laboratory and assays expected late in the December quarter.

A diamond hole testing a blind porphyry copper-gold target is nearing its planned depth of roughly 450m, while a second rig has started four additional RC/diamond holes along the 4.2km trend.

Initial drilling in the northern part of Olaf’s Trend intersected zoned hydrothermal alteration and rare porphyry-style quartz-magnetite-pyrite and magnetite veinlets.

Gold giant Newmont has completed its diamond drilling program at the Junee joint venture, with core processing and assays underway; KNB retains a 20% free-carried interest.

At Dunedoo, the maiden seven-hole program returned low-grade gold-silver anomalism at Hillside, including 36m from surface at 0.10g/t gold and 3.84g/t silver, and 20m at 0.19g/t gold and 3.46g/t silver from 82m.

Four holes at Bolinda Vale returned no significant gold or copper, although drilling intersected pyrite and magnetite alteration consistent with a porphyry-epithermal system.

New ground joins the exploration queue

KNB completed its acquisition of 100% of Gilmore Minerals in August, bringing the 485sq km Gundagai project and its four target domains into the Lachlan portfolio.

Initial field assessments are underway at the Big Ben trend, where a large-scale soil geochemical program is due to start shortly.

Separately, preparations are progressing at the Enmore project for drill testing at Queen of Sheba and the next phase of work at Sunnyside.

Next up are Wilga Flats assays expected late in the December quarter, preparations for drilling at Breakfast Creek, and further fieldwork at Gundagai.

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.

The post Koonenberry Gold steps up NSW gold-copper exploration blitz appeared first on Stockhead.