Koonenberry Gold Reports Promising Drilling Results

Koonenberry Gold Strikes Again: Sixth Drillhole Extends Impressive Gold Mineralization at Enmore

Koonenberry Gold (ASX: KNB) has announced exceptional results from its sixth diamond drillhole at the Enmore Gold Project's Sunnyside Prospect in northeast NSW, further extending the company's impressive gold drillhole intersection and reinforcing its potential as a significant gold discovery.

Sixth Drillhole Delivers Outstanding Gold Intercepts

The latest Koonenberry Gold drilling results from drillhole 25ENDD006 include a substantial intercept of 107m @ 1.14g/t Au from 189m, including:

• 80.5m @ 1.45g/t Au from 193.5m
• 35.5m @ 1.94g/t Au from 210.5m
• 9.7m @ 3.18g/t Au from 210.5m

This hole has successfully extended the mineralization by approximately 40m to the southwest of hole 003, confirming continuity and increasing confidence in the project's potential.

An Expanding Gold System with Multiple Open Directions

What makes these Koonenberry Gold drilling results particularly exciting is that the gold mineralization remains open in multiple directions:

• Open up-dip and at depth
• Open along strike in the preferred granite host rock
• Estimated true width of mineralization of approximately 75m
• Vertical depth extent of over 300m
• Strike extent of more than 200m

The company has identified a robust high-grade gold exploration system with consistent results along a structural corridor that runs parallel to the granite-sediment contact. This corridor extends over 200 meters along strike, has an estimated true width of 75m away from the granite-sediment contact, and extends to a depth of 300m, with all directions remaining open.

"This is an exceptional result from our sixth drill hole at Sunnyside where we continue to demonstrate the potential for bulk tonnage and high-grade gold. Hole 25END006 is around 40m along strike to the SW from Hole 25ENDD003 which returned remarkably similar true widths and gold grades perpendicular to the first order shear zone. This indicates good continuity of mineralisation between sections," said KNB Managing Director Dan Power.

Understanding the Sunnyside Gold Deposit

The mineralization at Sunnyside shows distinct characteristics of an orogenic mesothermal gold system. Gold is structurally controlled along a NE-SW trending shear zone and in later quartz-stage veins that crosscut the shear zone. This structural setting shares similarities with the 1.7Moz Hillgrove deposit located 20km to the north.

Multiple types of alteration have been observed in the drill core, including:

• Early prograde metamorphic/metasomatic biotite alteration
• Retrograde chlorite (propylitic) alteration
• Phyllic (quartz-sericite-pyrite) and iron carbonate alteration

The gold mineralization is typically associated with pyrite and arsenopyrite, with visible gold observed in several samples, particularly in quartz-iron carbonate veins.

What Makes This a Compelling Gold Project?

There are several factors that make the Enmore Gold Project particularly compelling:

1. Substantial Width: The mineralized zone has an estimated true width of approximately 75m, which is substantial for this type of deposit.

2. Consistent Results: All six drillholes have returned significant gold intercepts, demonstrating consistency across the target area.

3. High-Grade Zones: Within the broader mineralized envelope, there are multiple high-grade zones, including intervals exceeding 3g/t gold.

4. Open in All Directions: The mineralization remains open up-dip, down-dip, and along strike, suggesting significant expansion potential.

5. Geological Setting: The project's location in the New England Orogen, with similarities to the nearby 1.7Moz Hillgrove deposit, indicates the potential for a significant gold system.

Future Plans and Catalysts

Koonenberry Gold is well-funded to accelerate its exploration program with $10.35 million in cash as of March 31, 2025 (including proceeds from a $5 million capital raise in May 2025). The company plans to:

1. Complete the analysis of results from the remaining four drillholes (007-010) expected in early Q3 CY2025
2. Undertake an additional +10,000m drilling program, scheduled to commence in August 2025
3. Focus on infill and extensional drilling, as well as discovery and growth opportunities
4. Continue soil sampling programs to identify additional gold targets for exploration

Understanding Orogenic Gold Systems

Orogenic gold deposits are formed during mountain-building events when gold-bearing fluids rise through deep crustal structures. These deposits typically form in metamorphic belts at convergent plate margins and are characterized by:

• Strong structural control with gold concentrated along shear zones and faults
• Quartz-carbonate veining with associated sulfides (pyrite, arsenopyrite)
• Multiple stages of mineralization
• Potential for both bulk tonnage and high-grade zones

These systems can form large, economically viable deposits that can be mined using various methods. The presence of visible gold, as observed in Koonenberry's drilling, is often indicative of high-grade gold at Mt Palmer and similar projects.

The latest Koonenberry Gold drilling results further confirm the project's potential to host a significant orogenic gold system. The consistent gold mineralization across multiple drillholes suggests a robust and potentially large-scale gold deposit at Enmore.

Why Investors Should Watch Koonenberry Gold

Koonenberry Gold represents an exciting investment opportunity in the gold exploration sector for several compelling reasons:

1. Emerging Discovery: The company is in the early stages of what appears to be a significant gold discovery, with consistent and impressive drill results across multiple holes.

2. Multiple Growth Avenues: With mineralization open in all directions and a well-funded drilling program planned, there is substantial potential for resource growth.

3. Strong Financial Position: With $10.35 million in cash, the company is well-funded to advance its exploration programs without immediate capital concerns.

4. Experienced Management: The technical team has demonstrated a systematic approach to exploration, methodically expanding the known mineralization.

5. Project Portfolio: Beyond Enmore, Koonenberry holds a diverse portfolio of new gold targets at Kookynie and other projects across highly prospective areas of NSW, providing multiple opportunities for discovery.

As results from the remaining drillholes are received and the next phase of drilling commences, investors should keep a close eye on Koonenberry Gold's progress at Enmore, where a significant Australian gold discovery appears to be unfolding.

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