Koonenberry Gold Confirms Significant Gold Mineralisation at Postman’s Gully, Enmore Project NSW

• First diamond drill program confirms gold on Borah Fault
• Best intercepts include 12m at 1.02g/t Au and 7m at 1.18g/t Au
• Mineralisation open along strike and at depth, comparable to Sunnyside
• Drill permits secured for Borah and Queen of Sheba prospects
• Ongoing exploration across Enmore and Lachlan projects with Newmont JV

Postman’s Gully Drilling Validates Borah Fault Prospectivity

Koonenberry Gold (ASX:KNB) has delivered encouraging results from its inaugural diamond drill campaign at the Postman’s Gully Prospect, part of its Enmore Project in New South Wales. The program, targeting the underexplored Borah Fault Zone, returned significant gold intersections including 12 metres at 1.02 grams per tonne (g/t) gold from 227 metres, featuring a higher-grade 4 metres at 2.54 g/t Au within a broader 84-metre mineralised interval. Another hole yielded 7 metres at 1.18 g/t Au from 81 metres, underscoring the continuity of mineralisation across the fault structure.

These results, spaced roughly 200 metres apart, confirm the Borah Fault as a regionally significant gold-bearing structure with mineralisation extending vertically to at least 190 metres beneath historic workings. The style of mineralisation, multi-stage quartz-sulphide veining and breccias hosted in altered sediments, mirrors that seen at the nearby Sunnyside Prospect, which boasts a confirmed strike length exceeding 200 metres and vertical extent beyond 415 metres. This parallel suggests substantial upside for Koonenberry’s Borah Fault targets.

Geological Insights and District-Scale Implications

Drilling intersected multiple generations of quartz veining and sulphide mineralisation hosted in sheared and altered metasediments. This broadens the geological footprint beyond granite-hosted zones, enhancing the prospectivity of the wider district. The mineralisation remains open in several directions, notably eastward where the Borah Fault extends into granite with historical workings and soil anomalies yet to be tested by drilling.

Chairman Paul Harris highlighted the significance of these early-stage results, noting the potential for discovery across more than 30 kilometres of prospective structures within the Enmore Project. The Borah Fault’s minimal prior drilling history means Koonenberry’s findings open a new frontier for exploration in the region, complementing ongoing work at Sunnyside and other prospects.

Advancing Multiple Targets with Permits in Hand

Following the Postman’s Gully success, Koonenberry has secured drill permits for the high-grade Borah prospect and is progressing approvals for the Queen of Sheba Prospect, where rock sampling has returned exceptional grades up to 87 g/t Au. Surface geochemistry results from regional programs are pending, supporting a multi-front exploration push.

Elsewhere in the Enmore district, drilling at the Hand in Hand Prospect extended mineralisation to depth but returned lower grades, leading the company to consider this target tested. Attention is shifting to an untested 500-metre “gap zone” along the Sunnyside Shear Zone, which could host additional mineralised shoots.

Broader Portfolio and Joint Venture Activity

Beyond Enmore, Koonenberry’s Lachlan Project portfolio is advancing with geochemical and geophysical surveys underway, setting the stage for upcoming drill testing. The recent acquisition of the Gundagai Project further strengthens the company’s position in the Lachlan Fold Belt.

Importantly, Newmont is set to commence a fully funded diamond drilling program at the Junee Joint Venture this month. Koonenberry holds a 20% free-carried interest in this project, providing exposure to a highly prospective segment of the Macquarie Arc without capital outlay.

The company’s strategic focus on district-scale gold and copper systems, supported by solid cash reserves and active drilling programs, underscores its ambition to unlock significant value across its NSW exploration assets.

Bottom Line?

Postman’s Gully results validate Borah Fault’s potential, setting the stage for aggressive follow-up drilling and district-scale exploration across Koonenberry’s NSW portfolio.

Questions in the middle?

• How will follow-up drilling at Postman’s Gully refine the extent and grade continuity of the gold mineralisation?
• What impact will Newmont’s funded drilling at Junee have on Koonenberry’s joint venture interests and valuation?
• Can the high-grade targets at Queen of Sheba and Sherwood translate into significant resource additions in the near term?