Fairholme JV Shows Porphyry Signs Despite No Significant Assays

Drilling Advances at Junee JV

Koonenberry Gold Limited (ASX, KNB) has announced the completion of a fully funded air core drilling campaign by Newmont Exploration Pty Ltd at its Junee and Fairholme joint venture projects in New South Wales. At Junee, the program comprised 94 holes totaling 6,743 metres, targeting both alkalic copper-gold porphyry systems and epithermal gold systems beneath shallow cover.

The drilling notably expanded the Carters Prospect, with mineralisation now defined over approximately 1.6 kilometres strike and 0.3 kilometres width. Highlights include intercepts such as 33 metres at 0.11 grams per tonne gold from 3 metres depth and 2 metres at 0.11% copper from 33 metres. These results build on previous encouraging intercepts, including a 54-metre interval averaging 0.14 grams per tonne gold.

Porphyry Potential at Kurrajong and Other Prospects

At the Kurrajong Prospect, a single hole intersected 45 metres with elevated molybdenum and copper values, consistent with a high-level porphyry environment. This suggests the western margin of the system remains underexplored and could host significant mineralisation at depth.

Complementing the drilling, a project-wide geochemical review by renowned geochemist Scott Halley identified alkalic oxidised intrusions and potential Cowal-like geochemical footprints at the Allawah and Mitta Mitta Prospects. These areas have returned strong gold-in-soil anomalies and high-grade rock chip samples, indicating robust exploration targets for future programs.

Fairholme JV Drilling, Early Stage but Encouraging

The Fairholme JV Project saw 10 holes drilled for 1,157 metres, focusing on magnetic anomalies that could represent porphyry systems. Although no significant gold or copper assays were returned, pathfinder geochemistry revealed anomalous arsenic and antimony values consistent with the upper or outer expression of a porphyry system. The presence of phyllic alteration and dioritic intrusions in drill cores further supports the prospectivity of the area.

Newmont’s funding of these generative drilling programs underscores the strategic importance of these projects within the Lachlan Fold Belt, a world-class mineral province hosting major deposits such as Cadia, Cowal, and Northparkes.

Next Steps and Strategic Outlook

Koonenberry Gold’s Managing Director Dan Power emphasised that results from both Junee and Fairholme will undergo further interpretation to refine target areas and guide subsequent drilling phases. The company holds a 20% interest in Junee and a 51% interest in Fairholme, with Newmont managing exploration and funding earn-in commitments.

With a diverse portfolio of gold and copper projects in highly prospective NSW terranes, Koonenberry is well positioned to leverage these early-stage results. The expanding footprint of mineralisation at Junee, combined with encouraging geochemical signatures at Fairholme, offers a compelling pipeline of exploration targets that could unlock significant shareholder value.