Koonenberry Gold Unveils Robust Enmore Drilling Results, Secures $5M for Expansion

Emerging Gold Discovery at Enmore

Koonenberry Gold Limited has delivered a promising update from its maiden diamond drilling campaign at the Enmore Gold Project in New South Wales. The company completed 10 drill holes totaling over 3,000 metres at the Sunnyside Prospect, intersecting broad zones of gold mineralisation starting from surface and extending to significant depths. Highlights include intervals such as 170 metres at 1.75 grams per tonne gold, including a high-grade 18.3 metres at nearly 10 grams per tonne, and other substantial intercepts that suggest a robust and continuous gold system.

The mineralisation extends over an estimated 75 metres true width, 300 metres vertical depth, and more than 200 metres strike length, remaining open in multiple directions. Surface geochemical sampling to the east of Sunnyside has revealed over 2 kilometres of prospective strike with strong gold and arsenic anomalies, indicating further exploration upside.

Advancing Lachlan Fold Belt Copper-Gold Projects

Beyond Enmore, Koonenberry’s portfolio includes several copper-gold projects in the Lachlan Fold Belt, where exploration is managed in joint ventures with Newmont Corporation. During the quarter, Newmont completed 94 holes at the Junee JV and 10 holes at the Fairholme JV, targeting porphyry copper-gold systems analogous to major regional deposits. While results from Fairholme were modest, the Junee drilling expanded the prospective area and confirmed geochemical footprints similar to productive systems like Cadia and Cowal.

Additionally, surface sampling at the Prince of Wales Project identified significant gold and copper anomalies along a 2.5-kilometre trend, highlighting new targets for future drill testing.

Corporate Developments and Capital Position

On the corporate front, Koonenberry successfully raised $5 million through a private placement to accelerate its drilling program at Enmore and support ongoing exploration across its portfolio. Strategic investors Lion Selection Group and Lowell Resources Fund increased their stakes by acquiring escrowed shares previously held by Datt Capital, which has now exited the register. This shift is viewed by the board as a strong endorsement of Koonenberry’s project pipeline.

The company ended the quarter with a healthy cash balance of $8.7 million and no debt, positioning it well to fund its ambitious exploration plans. Managing Director Dan Power emphasized the transformational nature of the Enmore acquisition and the encouraging early drilling results, which have set the stage for a substantial follow-up campaign scheduled to commence in mid to late August.

Looking Ahead

Koonenberry plans to undertake over 10,000 metres of drilling at Enmore, focusing on infill, extensional, and discovery drilling to delineate the full potential of the Sunnyside gold system and adjacent targets. Concurrently, the company will prioritise multiple prospects across its Lachlan and Koonenberry projects, leveraging joint venture partnerships and its own funding to advance drill-ready targets.

With a diverse and strategically located portfolio, Koonenberry Gold is positioning itself as a notable player in the NSW gold and copper exploration scene, with early signs pointing to a compelling emerging discovery story at Enmore.