Why Koonenberry Gold Is Racing to Unlock Enmore’s Hidden Gold with a Second Drill Rig
Koonenberry Gold has mobilised a second drill rig at its Enmore Gold Project in NSW, aiming to accelerate exploration along a promising 2km shear zone. Backed by strong funding, the company targets significant gold discoveries with a major follow-up drilling program underway.
- Second drill rig mobilised to accelerate Enmore drilling
- 2,000m RC drill program targeting 2km Sunnyside shear zone
- Historical drilling shows encouraging gold intervals
- Strong cash position of $7.8M supports exploration
- Follow-up +10,000m drilling planned to expand mineralisation
Accelerating Discovery at Enmore
Koonenberry Gold Ltd has taken a decisive step to fast-track its exploration efforts at the Enmore Gold Project in northeast New South Wales by deploying a second drill rig. This move underscores the company's confidence in the potential of the 2km Sunnyside Shear Zone, where a combination of gold and arsenic soil anomalies, high-grade rock chip samples, and geophysical data have highlighted multiple high-priority targets.
The current 2,000-metre Reverse Circulation (RC) drilling program is designed to test these targets, which may represent repetitions of the broad and high-grade mineralisation previously intersected at Sunnyside. Historical drilling, though limited and wide-spaced, has already returned promising results such as 6 metres at 2.67 grams per tonne gold from near surface, indicating the area’s potential for further discoveries.
Strong Financial Backing and Strategic Focus
Managing Director Dan Power emphasised that the second rig will focus on discovery drilling along the Sunnyside to Hand in Hand trend, where four distinct target areas have been identified. These targets are supported by coincident geochemical anomalies and favourable geology at the granite-sediment contact, with rock chip assays reaching up to 17.55 grams per tonne gold.
Koonenberry Gold is well positioned financially, holding $7.8 million in cash as of September 30, 2025, with the potential to raise additional funds through the exercise of nearly 94 million options expiring in April 2026. This strong cash position enables the company to pursue an ambitious exploration agenda without immediate capital constraints.
Expanding the Footprint of Mineralisation
The Enmore project is at an exciting discovery phase, with initial drilling revealing gold mineralisation over an estimated 75 metres true width, extending 300 metres vertically and 260 metres along strike. Importantly, mineralisation remains open in multiple directions, suggesting significant upside potential. The follow-up program plans to drill over 10,000 metres to test extensions and new targets along the Sunnyside Shear Zone, particularly to the east.
In addition to the Sunnyside trend, Koonenberry is advancing exploration along the parallel Borah Shear Zone, where soil sampling and prospecting have identified further targets. Planned Gradient Array Induced Polarisation (GAIP) geophysical surveys aim to refine structural interpretations and prioritise drill targets.
A Diverse Portfolio in a Prospective Region
Beyond Enmore, Koonenberry Gold holds a substantial portfolio of gold and copper projects across New South Wales, including the Lachlan and Koonenberry projects. Several of these assets are at various stages of exploration or joint venture arrangements, positioning the company to leverage multiple growth opportunities in a highly prospective region.
While the current announcement does not include new assay results, it provides a clear signal of Koonenberry’s commitment to advancing its flagship Enmore project and building on the encouraging foundation laid by earlier drilling campaigns.
Bottom Line?
With drilling intensifying and strong financial backing, Koonenberry Gold is poised to unlock further value at Enmore, but investors await assay results to confirm the scale of the discovery.
Questions in the middle?
- Will the ongoing drilling confirm extensions of high-grade gold mineralisation at depth and along strike?
- How will results from the Borah Shear Zone influence Koonenberry’s exploration priorities?
- What impact could the exercise of options have on the company’s capital structure and funding runway?
