Kuniko Ltd Drilling Campaign Targets High-Grade Gold-Silver Mineralisation

Kuniko Limited Mobilises for High-Grade Commonwealth Drilling Campaign

Kuniko Limited (ASX: KNI) has mobilised drilling equipment at its Commonwealth Gold-Silver Project in New South Wales, marking a significant milestone as the company begins its maiden drilling campaign at what appears to be a highly prospective precious metals system. With drilling scheduled to commence on 14 February 2026, Kuniko is targeting shallow, high-grade gold-silver mineralisation that has demonstrated exceptional grades in historical work. The information about Kuniko Ltd drilling campaign reveals an ambitious programme designed to test multiple high-priority zones across the project area.

The Phase 1 programme involves 6 diamond drill holes totalling approximately 1,200 metres, strategically designed to test extensions of known mineralisation across three priority zones: Commonwealth Main, Silica Hill, and Commonwealth South. The programme builds on impressive historical intercepts, including standout results such as 7m @ 6.3 g/t Au, 496 g/t Ag from Commonwealth Main and 48.6m @ 0.5 g/t Au and 137 g/t Ag from a separate zone.

Managing Director Commentary:
"We are extremely excited to be commencing drilling at the Commonwealth Gold-Silver Project, a shallow, high-grade gold-silver system with a clear pathway for resource growth. Historical drilling has confirmed the fertility of the system through multiple high-grade intercepts, and we see strong potential to systematically expand mineralisation along strike and at depth." – Maja McGuire, Managing Director

Located within the prolific Lachlan Fold Belt, the Commonwealth Project sits approximately 100km north of Orange, NSW, in a region that hosts tier-one operations including Cadia-Ridgeway, North Parkes, Cowal, and Woodlawn. The project comprises multiple deposits with the Commonwealth system representing a volcanogenic massive sulphide (VMS) style occurrence containing gold, silver, zinc, lead, and copper mineralisation.

Phase 1 Drilling Programme Targets High-Grade Extensions

The upcoming drilling campaign has been carefully planned to test the most promising areas within the Commonwealth-Silica Hill mineral system. Diamond drilling has been selected specifically to maximise geological and structural understanding whilst providing high-quality data to support follow-up drilling phases.

Target Areas and Strategic Focus

Commonwealth Main Zone
Drilling will test down-plunge extensions to known gold-silver mineralisation, targeting structural controls and assessing continuity at depth. The programme builds on hole CMIPT031, which returned 7m @ 6.3 g/t Au, 496 g/t Ag, 7.2% Zn, 2.9% Pb, 0.2% Cu from 91m depth.

Silica Hill Zone
Step-out drilling will target down-dip and along-strike extensions to known high-grade silver-gold mineralisation. Holes are designed to test coincident geophysical responses and structural intersections interpreted to represent favourable sites for sulphide accumulation.

Commonwealth South Zone
Drilling will test the southern extension of the mineralised corridor, where limited historical drilling has been undertaken despite strong geological continuity. Previous drilling at hole CMIPT017 intersected 7m @ 25.5 g/t Au, 62 g/t Ag, 3.8% Zn, 1.6% Pb, 0.1% Cu from 88m, including 4m @ 41.8 g/t Au, 93 g/t Ag.

The company has engaged Titeline Drilling as the drilling contractor, bringing extensive experience in diamond drilling programmes across New South Wales and similar geological terranes. Mobilisation commenced on 11 February 2026, with all necessary drilling permits and land access approvals already in place.

Furthermore, detailed gold exploration strategies have been developed to optimise targeting and hole placement. The systematic approach ensures that each drill hole is positioned to maximise geological information whilst providing clear pathways for follow-up drilling phases.

Understanding VMS Systems: What Makes Commonwealth Special

Volcanogenic Massive Sulphide (VMS) deposits represent some of the world's most important sources of base and precious metals. These deposits form when hot, metal-rich fluids are expelled from the seafloor during volcanic activity, creating concentrated zones of sulphide mineralisation.

Key characteristics that make VMS systems attractive to investors:

• High-grade mineralisation in relatively compact zones
• Multiple metal credits (gold, silver, copper, zinc, lead)
• Predictable geological controls for exploration targeting
• Potential for significant resource growth along strike and at depth

The Commonwealth system exhibits classic VMS characteristics with the added benefit of epithermal gold-silver overprinting, creating a hybrid system with enhanced precious metal potential. Impact Minerals has noted geological similarities to Eskay Creek in Canada, a world-class VMS-epithermal hybrid deposit that has produced exceptional gold and silver grades.

For investors, VMS systems offer several advantages: they typically have well-defined geological footprints that enable systematic exploration, often contain multiple economic metals that provide revenue diversification, and can support long-term mining operations due to their continuity and predictable nature.

The Commonwealth Project's location within the Lachlan Fold Belt provides additional context for understanding its potential. This geological province hosts some of Australia's most successful mining operations, where VMS-style deposits have demonstrated consistent performance over decades of operation.

In addition, modern mining technology advances have significantly improved the economic viability of VMS systems by enabling more selective mining methods and enhanced metallurgical recovery rates.

District-Scale Potential Confirmed by Advanced Geophysics

Kuniko's systematic exploration approach has established the Commonwealth Project as part of a much larger mineralised system. Recent MobileMT airborne electromagnetic surveys have defined a 4km-long gold-silver corridor with multiple high-priority targets beyond the current drilling areas.

Exploration Programme Achievements

The company has completed a comprehensive target generation programme since acquiring its interest in the project:

• MobileMT electromagnetic survey defining the 4km mineralised corridor with multiple new targets
• Surface soil and rock-chip sampling providing geochemical vectors across the broader project area
• Consolidation and reinterpretation of historical drilling data confirming high-grade potential
• Target ranking and prioritisation supporting efficient drill hole placement

The MobileMT data has revealed resistivity patterns consistent with silicified rhyolitic host rocks and possible concealed intrusive material at depth, with known mineralisation developed along pronounced resistivity gradients. Elevated silver-in-soil values spatially coincide with near-surface resistivity highs, supporting a clear relationship between surface geochemical responses and underlying alteration zones.

This systematic approach has identified multiple untested targets including Silica Hill East, Geenobbys, and Gladstone, where geophysical and geochemical anomalies remain to be drill-tested. The company plans to advance target ground-truthing and permitting for these prospects in parallel with the current Phase 1 drilling campaign.

However, successful exploration requires careful attention to mineral resource management principles to ensure sustainable development of any discoveries. The extensive geophysical coverage provides a strong foundation for systematic target testing across the broader district.

Investment Thesis: Multiple Catalysts Converging

The Commonwealth Gold-Silver Project represents a compelling investment opportunity for several key reasons. The information about Kuniko Ltd drilling campaign demonstrates a well-structured approach to testing high-priority targets with immediate newsflow potential.

Immediate Value Drivers

• High-grade historical intercepts provide proof-of-concept for exceptional grades
• Shallow mineralisation reduces development complexity and costs
• Multiple target zones offering several paths to discovery success
• Established geological continuity reducing exploration risk

Medium-Term Growth Potential

• 4km mineralised corridor provides substantial expansion opportunity
• Multiple untested targets identified through modern geophysical techniques
• VMS-epithermal hybrid system offering multiple metal credits and revenue streams
• Tier-1 regional setting in the prolific Lachlan Fold Belt

Systematic Execution Strategy

Kuniko's approach demonstrates careful planning and risk management:

• Diamond drilling selection ensures high-quality geological data
• Phased programme design allows for adaptive targeting based on results
• Experienced drilling contractor with local geological expertise
• Comprehensive permits in place enabling continuous programme execution

The company's broader portfolio also provides diversification with battery metals projects in Norway and other Australian gold opportunities, reducing single-project risk whilst maintaining focus on critical and strategic minerals aligned with global energy transition themes.

For instance, understanding commodity price trends becomes crucial when evaluating multi-metal projects like Commonwealth, where gold, silver, zinc, lead, and copper all contribute to potential economic outcomes.

Timeline and Upcoming Catalysts

The Commonwealth drilling programme enters an active phase with multiple near-term catalysts expected to drive investor interest:

Immediate Milestones (February-March 2026)

• 14 February 2026: Drilling commencement at Commonwealth Main zone
• March 2026 (estimated): First assay results from Phase 1 drilling
• Q1 2026: Completion of 6-hole, 1,200m Phase 1 programme

Medium-Term Objectives (2026)

• Q2 2026: Phase 2 drilling programme planning based on initial results
• Mid-2026: Target ground-truthing and permitting for MobileMT-identified prospects
• H2 2026: Potential resource estimation work if drilling confirms continuity

Strategic Development Path

The company has outlined a clear progression path from current drilling through to potential resource development:

1. Phase 1 Results Analysis: Geological interpretation and target refinement
2. Follow-up Drilling: Expanded programmes targeting successful zones
3. District-Scale Testing: Systematic evaluation of 4km corridor targets
4. Resource Estimation: JORC-compliant resource updates based on Kuniko drilling
5. Development Studies: Preliminary economic assessments for successful discoveries

Results from the Phase 1 programme are expected to be reported as they become available, with assay turnaround times typically requiring 3-4 weeks from sample submission. The company's systematic approach positions it to quickly capitalise on positive results through follow-up drilling and expanded programmes.

Consequently, investors monitoring the information about Kuniko Ltd drilling campaign should expect regular updates throughout the active drilling period, with geological logging results potentially available ahead of assay data.

What Drives Successful Exploration Programmes?

Modern mineral exploration success depends on multiple factors working in combination. Technical expertise in geological interpretation remains fundamental, but equally important are systematic targeting methodologies and adaptive programme design based on emerging results.

Kuniko's approach exemplifies best-practice exploration through its integration of historical data with modern geophysical techniques. The MobileMT electromagnetic survey provides three-dimensional insights into subsurface geology that complement traditional geological mapping and geochemical sampling.

Furthermore, the selection of diamond drilling over reverse circulation methods demonstrates a commitment to maximising geological information return. Diamond core provides continuous geological samples that enable detailed structural and alteration studies, critical for understanding mineralisation controls in VMS systems.

The phased programme design allows for adaptive targeting based on initial results. This flexibility ensures that successful zones can be immediately followed up whilst unsuccessful areas can be deprioritised, optimising exploration expenditure efficiency.

Additionally, successful exploration project management requires careful attention to permitting, contractor selection, and stakeholder engagement. Kuniko's advance preparation in securing all necessary approvals enables continuous programme execution without regulatory delays.

Why Investors Should Follow Kuniko Limited

Kuniko has positioned itself as a focused explorer with a diversified portfolio spanning both precious metals in Australia and battery metals in Europe. The Commonwealth drilling programme represents the company's most significant near-term catalyst, but the broader investment thesis extends well beyond this single project.

Strategic Portfolio Positioning

Australian Gold-Silver Assets:

• Commonwealth Project with immediate drilling catalysts and 4km+ strike potential
• Strategic location in the world-class Lachlan Fold Belt
• Binding earn-in agreement allowing up to 70% project ownership

European Battery Metals:

• Ertelien Nickel-Copper-Cobalt Project with JORC resource of 40Mt @ 0.25% NiEq
• Multiple Norwegian projects targeting critical battery metals
• Access to 98% renewable energy for future operations

Competitive Advantages

The company's approach demonstrates several key strengths that differentiate it from peers:

• Systematic exploration methodology using modern geophysical techniques
• Experienced management team with proven track record in mineral discovery
• Strategic project locations in established mining jurisdictions
• Diversified commodity exposure reducing single-market dependency

Investment Monitoring Points

Investors should track several key developments as Kuniko advances its projects:

Immediate Term (Q1-Q2 2026):

• Commonwealth Phase 1 drilling results and geological interpretation
• Follow-up drilling programme announcements and target refinement
• Progress on MobileMT target ground-truthing and permitting

Medium Term (2026-2027):

• Resource estimation updates incorporating Kuniko drilling
• District-scale exploration results and new discovery potential
• Norwegian battery metals project advancement and development studies

Long Term (2027+):

• Development pathway decisions for successful discoveries
• Strategic partnerships or joint ventures for project advancement
• Production planning and infrastructure development

Key Investment Takeaway:
Kuniko has positioned itself as a systematic explorer with immediate catalysts at the high-grade Commonwealth Gold-Silver Project and longer-term upside through its diversified portfolio of critical and precious metals assets. With drilling commencing imminently and a 4km+ mineralised corridor offering substantial expansion potential, the company represents a compelling opportunity for investors seeking exposure to both near-term discovery potential and strategic metals aligned with global energy transition themes.

The combination of immediate drilling catalysts, systematic exploration approach, and diversified portfolio positioning makes Kuniko a company worth following as it enters this active development phase across multiple projects and jurisdictions. The information about Kuniko Ltd drilling campaign provides a clear framework for monitoring progress and evaluating results as they become available.

Ready to Capitalise on Kuniko's High-Grade Drilling Campaign?

With Kuniko Limited mobilising for its maiden drilling programme at the Commonwealth Gold-Silver Project and targeting shallow, high-grade mineralisation across a 4km corridor, this represents a compelling opportunity for investors seeking exposure to immediate discovery catalysts. The company's systematic approach, combined with exceptional historical grades of up to 41.8 g/t gold and 93 g/t silver, positions it for potential near-term value creation as drilling results emerge throughout 2026. Don't miss the opportunity to learn more about Kuniko's diversified portfolio spanning both Australian precious metals and European battery metals projects. Visit Kuniko's official website to access detailed project information, management presentations, and stay updated on drilling progress as this exciting exploration story unfolds.