- Koonenberry Gold (KNB) completes a maiden reverse circulation program at the Lucky Sevens gold prospect in NSW
- Eleven holes were drilled to target a 400-metre section of a four-kilometre-long gold in soil anomaly
- This drilling intersected quartz veins with some zones measuring a thickness of up to 30 metres
- Samples have been sent for analysis with assays expected later in the quarter, with further drilling planned
- Koonenberry Gold ends the day 2.56 per cent in the red to close at 7.6 cents
Koonenberry Gold (KNB) has completed reverse circulation (RC) at the Lucky Sevens high-grade gold prospect in NSW.
A total of 11 holes, for 2258 metres, were drilled to target a 400-metre section of the four-kilometre-long gold in soil anomaly.
Limited drilling has been undertaken at Lucky Sevens with previous work intersecting five metres at 25.1 grams per tonne (g/t) gold from zero metres, demonstrating the high-grade potential of the mineralised structures.
This recent drilling intersected quartz veins with some zones measuring a thickness of up to 30 metres.
“We are pleased to have completed our maiden drill program at our Lucky Sevens prospect and are encouraged by the geology, alteration and veining observed, which we believe may represent a significant mineralised system,” Managing Director Dan Power said.
Samples have been sent to the laboratory for analysis with assays expected later in the quarter and once received, further RC and diamond drilling will be undertaken.
Additionally, preparations are advancing for a 12,000-metre aircore drilling program at the Atlantis, Four Queens and Vegas prospects.
Targets are being identified from multi-element geochemical and available geophysical data.
Koonenberry Gold has ended the day 2.56 per cent in the red to close at 7.6 cents.