Koonenberry Gold Expands NSW Footprint with Gundagai Acquisition
Koonenberry Gold has completed its acquisition of the Gundagai Gold-Copper Project, adding 485km2 to its Lachlan Fold Belt portfolio and unlocking multiple high-grade targets for near-term drilling.
- Acquisition of 100% of Gilmore Minerals completed
- 485km2 expansion in Lachlan Fold Belt
- Project hosts high-grade gold and copper targets
- Near-term exploration program planned for Q3 2026
- Consideration shares under 12-month voluntary escrow
Strategic Acquisition Boosts Koonenberry’s NSW Presence
Koonenberry Gold Limited (ASX:KNB) has officially sealed the deal on acquiring Gilmore Minerals Pty Ltd and its prized Gundagai Gold-Copper Project in New South Wales. This move, ratified by shareholders on 31 July 2026 and completed on 10 August, dramatically expands Koonenberry’s footprint in the Lachlan Fold Belt by 485 square kilometres, reinforcing its position in one of Australia’s most prolific mineral provinces.
High-Grade Targets Across Four Domains
The Gundagai Project comprises a contiguous tenement package (EL8061, EL8586, EL8889, EL8998) with four distinct target domains: Johnston’s Hill, Big Ben-Princess Marina, Snowball-Califat, and Kimo. These areas are considered highly prospective for epithermal-porphyry gold-copper, intrusion-related, and orogenic gold systems. Historical rock chip sampling has delivered standout grades, including gold assays up to 386g/t and 320g/t, alongside copper values reaching 27.05%. Previous shallow drilling, though limited, returned promising intercepts such as 1 metre at 23g/t gold within a broader 20 metres at 1.78g/t gold, highlighting the project’s potential for high-grade mineralisation near surface.
Synergies with Existing Projects and JV Activity
The acquisition strategically complements Koonenberry’s existing assets, being contiguous with the Prince of Wales and Brungle Projects, and in close proximity to the Junee Newmont Joint Venture, where Newmont is actively diamond drilling. Executive Chairman Paul Harris emphasised the camp-scale opportunity Gundagai represents, noting the project’s near-term drill targets and its fit within the company’s broader NSW gold and copper portfolio. This alignment could provide operational synergies and shared geological insights as exploration accelerates.
Rapid Exploration Program on the Horizon
With tenement transfers underway, Koonenberry plans to launch a low-cost, rapid exploration campaign focused on surface geochemistry and targeted geophysics to refine drill targets. Fieldwork is expected to commence later this quarter, aiming to fast-track the delineation of drill-ready prospects. The company’s approach balances prudent capital management with the urgency to unlock value from this newly acquired asset.
Consideration and Escrow Terms
In line with the acquisition terms and shareholder approval, Koonenberry issued consideration shares to the Gilmore Minerals vendors on completion day, 10 August. These shares are subject to a voluntary escrow period of 12 months, a move that aligns vendor interests with the company’s medium-term growth objectives and provides some stability to the share register following the transaction.
Bottom Line?
Koonenberry’s Gundagai acquisition sets the stage for a busy exploration phase in NSW, with early high-grade signals warranting close attention as drilling plans unfold.
Questions in the middle?
- How will initial exploration results at Gundagai influence Koonenberry’s valuation and capital allocation?
- What geological insights might emerge from integrating Gundagai with nearby projects and Newmont’s Junee JV activity?
- Could the company’s low-cost exploration strategy at Gundagai accelerate discovery timelines compared to peers?
