Koonenberry Gold Strikes Gold Again: Fifth Hole Extends Mineralisation at Enmore
Koonenberry Gold Limited (ASX:KNB) has reinforced its emerging success story at the Enmore Gold Project in New South Wales, with visible gold observed in multiple zones within its fifth drill hole. This latest intersection extends the gold mineralisation to approximately 300 metres vertically from surface, highlighting the significant potential of the project.
Multiple Gold Zones Confirm Expanding Mineralisation Footprint
The company's maiden diamond drilling program continues to deliver impressive results, with hole 25ENDD005 intercepting visible gold in multiple sections between 262.6m and 370.18m. This follows previously announced visible gold discoveries in each of the first four drill holes.
Most importantly, this latest hole has extended the gold zone approximately 100 meters down-dip from the mineralisation observed in hole 004, demonstrating that the gold system remains robust at depth.
Managing Director Dan Power emphasised the significance of these findings: "Hole 25ENDD005 was a 64.5m step-back from hole 004, so it is significant that we are seeing alteration, veining, sulphides and visible gold over considerable widths."
Impressive Early Results Establish Project Potential
Initial assay results from the first two holes have already demonstrated the substantial potential of the Enmore Project:
| Hole | Intersection | Including |
|---|---|---|
| 25ENDD001 | 170m @ 1.75g/t Au from 77m | 18.3m @ 9.95g/t Au (with 0.3m @ 144.5g/t Au) |
| 25ENDD002 | 172.9m @ 2.07g/t Au from 171m | 25m @ 5.23g/t Au (with 5m @ 11.09g/t Au) |
These lengthy gold intersections are particularly impressive for a maiden drilling program and suggest the system could host both broad intervals of relatively shallow gold mineralisation and high-grade zones at depth. Results from holes 3 and 4, which also contained visible gold at Koonenberry Gold's Enmore project, are expected in late April and early May.
Understanding Visible Gold in Mining Exploration
Visible gold observations are significant indicators in gold exploration, though investors should understand their proper context. When geologists identify "visible gold" in drill core, they're observing actual gold particles that can be seen with the naked eye or under magnification.
While visible gold is an encouraging sign, it doesn't automatically translate to economic gold grades. The distribution, size, and frequency of gold particles must be confirmed through laboratory assays to determine the actual gold content.
However, at Enmore, visible gold appears to be correlating with significant gold grades, as demonstrated by the impressive assay results from the first two holes. The visible gold at Koonenberry Gold's Enmore project occurs within quartz veins, often associated with pyrite and arsenian pyrite, which is consistent with orogenic gold deposits found elsewhere in the New England Fold Belt.
Geology and Mineralisation Controls
The Enmore Gold Project is characterised as a structurally controlled orogenic gold system hosted in the New England Orogen. Gold mineralisation at Sunnyside appears in two distinct styles:
- An earlier, relatively lower-grade sulphidic lode-style mineralisation parallel to mylonite zones
- A later, higher-grade mineralisation associated with brittle deformation in dilational zones
The current drilling has confirmed the geological model, with granite being the preferred host rock and mineralisation controlled both along the shear zone and along second-order structures. The exploration team believes the gold system remains open along strike, across strike to the northwest, and down dip.
Future Plans and Exploration Pathway
Koonenberry's drilling program at Enmore has completed 1,980.5m of a planned 3,000m campaign, with approximately 1,000m remaining. Hole 25ENDD006 is currently underway, and the company will determine next steps based on complete results.
The program aims to test the impressive widths and grades of gold mineralisation at Sunnyside and improve understanding of mineralisation controls. Results will be used to design follow-up diamond drilling to test continuity in multiple directions, including along the 125m x 550m prospective structural corridor identified at the site.
Why Investors Should Follow Koonenberry Gold
Koonenberry Gold is strategically positioned at the critical discovery stage of the value creation curve. The Enmore Gold Project is demonstrating potential for a significant gold system with both broad zones of mineralisation and high-grade components.
Key investment considerations include:
- Consistent success: Visible gold in all five drill holes to date, with strong initial assay results
- Expanding footprint: Mineralisation extending 300m vertically from surface and remaining open
- Strategic location: Located in the underexplored New South Wales segment of the New England Fold Belt, just 20km south of the 1.7Moz Hillgrove Gold-Antimony Mine
- Multiple catalysts: Pending assay results from holes 3 and 4, plus ongoing drilling
- Exploration expertise: Management demonstrating effective targeting with remarkable early success
With the project's proximity to established infrastructure in northeast NSW and evidence of a substantial gold system, Koonenberry Gold has positioned itself as one of the more compelling junior mining investments on the ASX. As drilling continues and additional results come in, investors should monitor developments closely for further evidence of the project's scale and economic viability.
The visible gold at Koonenberry Gold's Enmore project appears to be primary in nature and is hosted within quartz veins. The company has noted that visible gold observations included in its announcements should not be considered a proxy for laboratory analyses. Nonetheless, the consistency of visible gold occurrences across multiple drill holes, combined with the strong assay results received to date, suggests the potential for a significant mineralised system at Enmore.
Koonenberry Gold has established a diverse portfolio of high-quality gold and copper projects in highly prospective areas of NSW. The company plans to prioritise exploration programs to maximise value for shareholders, with regular updates expected as work progresses. Investors interested in the natural resources sector should consider investing in mining stocks like Koonenberry Gold, particularly as the industry increasingly focuses on green transformation strategies alongside exploration success.
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