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Koonenberry Gold (ASX:KNB) has found gold grading up to 144 grams per tonne at its Sunnyside prospect in New South Wales.
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Koonenberry’s first diamond hole drilled into the prospect yielding an assay of 170 metres at 1.75g/t of gold (Au) from 77m, including 18.3m at 9.95g/t Au from 172.9m, including 0.3m at 144.5g/t Au from 173.8m.
In February, the company identified visible gold zones; the intercept is coincident with this, as well as being associated with intense multiphase veining, sulphides, and breccia.
KNB is now expecting assays from holes two, three, and four later this month, but has noted that data from the first hole backs up historical drill results and suggests the potential for this system to host both zones of high-grade gold and also large intervals of gold mineralisation.
“This hole was planned to target high-grade vein sets at a high angle to the main
shear zone and we have certainly demonstrated the potential for this system to carry exceptionally high gold grades as well as verifying the broad zones of gold mineralisation intersected in historical drilling,” KNB director Dan Power said.
The next batch of holes has also been observed to each contain visible gold.
The mineralisation found at Sunnyside – part of the wider Enmore Gold Project – is open up-dip in the granite host rock, as well as along strike and at depth.
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“Samples from holes 25ENDD002, 003 and 004, which all intersected visible gold, are now at the lab and will be reported through April. Drilling at Sunnyside is ongoing and continues to target extensions to the system, which we have demonstrated to have a 240m vertical depth extent on three sections, A-A’, B-B’ and C-C’.”
KNB was trading at 5.2 cents at 10:58pm today – a 26.8% rise in price.
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