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Koonenberry Gold (ASX:KNB) has identified visible gold and obtained several high-grade hits as it keeps growing the Sunnyside prospect at Enmore in New South Wales, extending mineralisation to 415 metres vertically.
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Nine holes have been completed to date for 3,482 metres, with highlights including 44.5 metres at 1.01 grams per tonne, from 340 metres.
Koonenberry’s managing director, Dan Power, said they’ve now extended the mineralised zone an additional 165 metres below previous drilling, with mineralisation now defined from surface to 415m vertical and along around 260m of strike.
“The Sunnyside mineral system continues to grow, with broad zones of potential bulk tonnage gold mineralisation being highlighted in several new drill holes as well as high-grade gold zones at depth,” he explained.
The Australian company is now preparing to step out along the Sunnyside Shear Zone to the north-east and south-west to test for strike extensions.
“We are particularly interested in testing where recently identified north-east trending structures cross-cut the main Sunnyside shear. We think this is an important control on the higher-grade zones and is a common feature of large gold deposits,” Mr Power told Koonenberry’s shareholders today.
“Deeper diamond drilling is also being designed at Hand in Hand, where first pass wide spaced and relatively shallow RC drilling returned highly anomalous gold mineralisation over broad intervals.”
To support its drilling strategy, Koonenberry is running IP geophysics and additional surface soil sampling along the Borah Fault to generate new targets and assist with drill targeting where gold-arsenic soil anomalies.
Previous workings and limited historical drilling have highlighted strike potential of a cumulative approximately four kilometres.
“Lastly, we are planning work in the north-west part of our Enmore project, where we have some very significant gold-antimony anomalies that were generated in 2005 and have never been followed up,” Mr Power added. “These anomalies are 20km directly along strike from the Hillgrove gold-antimony mine.”
Results from Phase I drilling have been used in the design of the 10,000-metre follow-up to test the continuity and extensions to mineralisation at Sunnyside, as well as discovery and growth drilling along the shear zone.
KNB is trading at 3.5c before open; market cap has been $30.82M.
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