Join our daily newsletter At The Bell to receive exclusive market insights
- Two diamond holes at Silica Hill extend high-grade mineralised system
- Both holes intersected alteration, disseminated sulphides and sulphide-bearing stringer and stockwork veining
- Drilling has demonstrated approximately 100m of up-dip to down-dip continuity of mineralised system
- All three holes lie outside the existing mineralised block model
Kuniko (ASX:KNI) has highlighted the potential to expand the Silica Hill resource footprint ahead of a planned project mineral resources estimate (MRE) update.
Listen to the HotCopper podcast for in-depth discussions and insights on all the biggest headlines from throughout the week. On Spotify, Apple, and more.
The company has received positive Phase 2 diamond drilling at the Silica Hill prospect, part of the Commonwealth project in the Lachlan Fold Belt in New South Wales.
The first two holes, CMKNI007 and CMKNI008, have now been completed for a combined 724 metres, have successfully intersecting the targeted zones of alteration, disseminated sulphides and stringer-vein mineralisation up-dip and down-dip of previously reported hole CMKNI004. Together, the three holes demonstrate approximately 100m of continuity in the mineralised system outside the existing mineralised block model, highlighting the potential for further growth ahead of Kuniko’s planned project MRE update.
“The first two holes of our Phase 2 drilling program have delivered an encouraging start at Silica Hill, with both holes intersecting the targeted zones of alteration, disseminated sulphides and stringer-vein mineralisation,” MD, Maja McGuire, said.
“Importantly, drilling has now demonstrated approximately 100m of continuity across CMKNI007, CMKNI004 and CMKNI008, with all three holes located outside the existing mineralised block model. This provides a compelling opportunity to expand the known Silica Hill mineralised footprint.”
Ms McGuire told shareholders with assays pending, the potential for these extensions to add scale and high-grade mineralisation to the Silica Hill system is an important near-term catalyst.
The mineralised system remains open up-dip, down-dip and laterally, providing scope for further expansion with additional drilling.
Regional targeting is underway to define additional drill targets within approximately one to two km of Commonwealth and Silica Hill, with selected prospects planned for drill testing in the near future.
Following completion of drilling and receipt of all outstanding assays, Kuniko plans to complete an updated project MRE.
KNI was steady 2.1¢ with a Mkt cap of $4.296M.
Join the discussion: See what HotCopper users are saying about Kuniko and be part of the conversations that move the markets.
The material provided in this article is for information only and should not be treated as investment advice. Viewers are encouraged to conduct their own research and consult with a certified financial advisor before making any investment decisions. For full disclaimer information, please click here.
-1200x645-380x200.jpg)
