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- Exceptional early assay results from massive sulphide mineralisation at main shaft
- Results confirm high-grade gold, silver and base metal tenor
- Drilling testing down-dip step-outs from the existing massive sulphide zone
- Assays pending for remaining four drill holes
Kuniko (ASX:KNI) is preparing to advance to a larger phase two drilling program after receiving positive assay results from its maiden drilling program at the Commonwealth–Silica Hill project in New South Wales.
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Results from the first two holes in the six-hole phase one diamond drilling program have confirmed high-grade gold, silver and base metal tenor. Phase two drilling will follow-up testing of newly identified mineralised zones.
Kuniko’s managing director, Maja McGuire, said the laboratory assay results for the remaining four holes are expected shortly.
“These initial assay results from the main shaft, generated from Kuniko’s maiden drilling program at Commonwealth, confirm the presence of high-grade massive sulphide mineralisation, validating our visual observations and reinforcing the strong potential of the system,” Ms McGuire said.
“Importantly, mineralisation has now been extended down-dip, with the system remaining open at depth and along plunge.”
The tenor and widths returned in the first holes highlight the opportunity to define a larger, continuous mineralised system as the company moves into phase two drilling.
“With assays pending from the remaining four holes, we look forward to further results shortly, which we expect will continue to build on the scale and continuity of the system and support our phase two drilling campaign,” Ms McGuire said.
Recent assays have confirmed high-grade massive sulphide mineralisation, including 3.8m at 6.5 grams per tonne (g/t) gold, 385 g/t silver and 11.5% zinc, reinforcing previously reported high- grade intercepts and supporting open pit potential, with a deeper copper-gold source beneath VMS mineralisation.
All six phase one drill holes intersected mineralisation, with step-out holes confirming extensions down-dip and along plunge.
At Silica Hill, drilling 100m beyond known mineralisation has defined a new mineralised zone, open in multiple directions.
KNI is up 4.26% to 4.9¢. Mkt cap $7.598M.
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