Resource Growth Hinge: Kuniko Begins Drilling at High-Grade Commonwealth Project

• Phase 1 diamond drilling of ~1,200m across six holes underway
• Targets include Commonwealth Main, Silica Hill, and Commonwealth South
• Historical high-grade intercepts underpin resource growth potential
• Project lies within a 4km gold-silver mineralised corridor identified by MobileMT survey
• Drilling results will guide follow-up exploration and resource evaluation

Drilling Commences at a High-Grade Gold-Silver System

Kuniko Limited (ASX – KNI) has officially mobilised its maiden diamond drilling program at the Commonwealth Gold-Silver Project, located in the prolific Lachlan Fold Belt of New South Wales. The Phase 1 campaign, scheduled to begin on 14 February 2026, involves approximately 1,200 metres of drilling across six holes targeting extensions to known mineralisation at Commonwealth Main, Silica Hill, and Commonwealth South.

This marks Kuniko’s first drilling effort at the project since acquiring its interest and follows extensive preparatory work including geophysical surveys and geochemical sampling. The company is focused on testing geological continuity and structural controls that could underpin a significant resource expansion.

Building on Strong Historical Intercepts

The Commonwealth project benefits from a rich history of exploration, with previous drilling by Impact Minerals Limited revealing multiple high-grade gold and silver intercepts. Notable examples include a 7-metre intercept grading 6.3 g/t gold and 496 g/t silver from 91 metres depth, and a 48.6-metre intercept with 0.5 g/t gold and 137 g/t silver, including a high-grade silver shoot of 3,146 g/t over 0.9 metres.

Kuniko’s drilling program aims to follow up on these promising results, focusing on down-plunge and along-strike extensions where mineralisation remains open. The use of diamond drilling is intended to provide high-quality geological and structural data to refine the understanding of the mineral system.

District-Scale Potential and Strategic Location

The project sits within a 4-kilometre gold-silver corridor defined by a recent MobileMT airborne electromagnetic survey, which identified multiple high-priority targets beyond the immediate drilling areas. This district-scale setting is significant, as the Lachlan Fold Belt hosts several world-class gold operations including Cadia-Ridgeway and North Parkes.

Kuniko’s Managing Director, Maja McGuire, highlighted the excitement around the project’s potential, noting the clear pathway for resource growth and the opportunity to systematically expand mineralisation. The company is well-positioned with all necessary permits and land access agreements in place, allowing for an efficient drilling campaign execution.

Next Steps and Market Implications

Assay results from the Phase 1 drilling are expected to be reported as they become available, providing critical data to guide follow-up drilling and further resource evaluation. The program also runs in parallel with ongoing target generation efforts using geophysical data, which may unlock additional drill targets in the near term.

While historical resource estimates exist, Kuniko has not yet independently verified these figures and intends to undertake its own technical assessments. The outcomes of this drilling campaign will be pivotal in shaping the company’s exploration strategy and could materially influence its valuation and market perception.

Bottom Line?

Kuniko’s maiden drilling at Commonwealth sets the stage for potential resource growth and strategic advancement in a proven gold-silver district.

Questions in the middle?

• Will the Phase 1 drilling confirm extensions to high-grade mineralisation and support resource upgrades?
• How will Kuniko integrate new geological data to refine its exploration model and target prioritisation?
• What are the implications of the MobileMT survey’s district-scale targets for longer-term project development?