Koonenberry Gold has identified compelling drill-ready copper and gold targets at its Wilga Flats Project near Evolution Mining’s Cowal Gold Mine, with drilling set to begin after Dunedoo operations conclude.
- Outcropping copper mineralisation up to 1.37% Cu confirmed
- Large-scale copper-gold soil anomalies and magnetic highs define drill targets
- Historic drilling re-assays reveal previously unrecognised gold mineralisation
- Drill permit submitted; drilling to follow Dunedoo Project completion
- Wilga Flats part of 272km2 underexplored Lachlan Fold Belt portfolio
Wilga Flats Emerges as a Copper-Gold Hotspot Near Cowal
Koonenberry Gold (ASX:KNB) has sharpened its exploration focus with multiple high-priority drill targets now defined at the Wilga Flats Project in NSW’s Lachlan Fold Belt. Situated just 20km north of Evolution Mining’s prolific Cowal Gold Mine, Wilga Flats is shaping up as a potentially significant copper-gold system. The company’s recent geophysical and geochemical campaigns have delivered a coherent package of surface mineralisation, soil anomalies, and magnetic highs that collectively point to robust drill targets along the 4.2km Olaf’s Trend.
Surface Copper Grades and Magnetic Modelling Highlight Porphyry Potential
Mapping and rock chip sampling have confirmed outcropping copper mineralisation reaching up to 1.37% Cu, hosted in altered basaltic-andesite volcaniclastic rocks and hydrothermal breccias. These lithologies are interpreted as equivalents to the Cowal Igneous Complex, a known fertile host for copper-gold deposits. Complementing the geochemistry, 3D magnetic inversion modelling has identified large-scale magnetic highs that coincide with the copper-gold soil anomalies, suggesting the presence of magnetite-bearing hydrothermal alteration or buried intrusive bodies. This geophysical signature aligns with characteristics of known alkalic porphyry copper-gold systems in the Lachlan Fold Belt, including Cadia Ridgeway and Boda-Kaiser, though Koonenberry cautions that proximity does not guarantee similar success.
Historic Drilling Re-Assays Uncover New Gold Mineralisation
Re-examination of historical diamond drill core from the Olaf’s Trend has revealed previously unrecognised gold mineralisation. Notably, a 32m interval averaging 0.10g/t Au was identified above a historic lead-zinc intersection of 11.33m at 2.05% Pb+Zn. This gold zone is spatially associated with copper-arsenic-antimony pathfinder elements and sits at the margins of a prominent magnetic high, bolstering the case for a broader hydrothermal system. The polymetallic signature and geophysical correlations provide a compelling rationale for targeted drilling to test extensions and depth continuity.
Drill Permits in Progress; Drilling to Follow Dunedoo Completion
Koonenberry has submitted the necessary approvals for drilling at the northern epithermal gold target and is progressing permits for the southern copper-gold target within Olaf’s Trend. A drill rig has been secured, with operations expected to commence once the current drilling program at the Dunedoo Project wraps up. Drilling at Dunedoo is ahead of schedule, with seven reverse circulation holes completed and diamond drilling imminent. The company anticipates reporting assay results from Dunedoo in Q4, which will add further context to its Lachlan Fold Belt exploration strategy.
Wilga Flats Part of a Broader Regional Exploration Pipeline
While Olaf’s Trend is the immediate priority, Wilga Flats sits within a 272km2 landholding that includes multiple underexplored prospects. Among these is the Athena Igneous Complex, a large magnetic high domain structurally analogous to the North Parkes and Cowal deposits. Historical drilling here has returned shallow copper anomalies and porphyry-style alteration, indicating potential for future drill testing. Koonenberry continues to evaluate these regional targets as part of its broader portfolio, which also includes projects such as Enmore, Breakfast Creek, Gundagai, and joint ventures with Newmont at Junee and Fairholme.
Chairman Highlights Strategic Significance of Wilga Flats Targets
Executive Chairman Paul Harris emphasised the rapid advancement of Olaf’s Trend from a broad geochemical anomaly to drill-ready targets. He highlighted the convergence of high-grade surface copper mineralisation, extensive soil anomalies, hydrothermal alteration, and magnetic responses as a strong foundation for exploration. Harris also noted the importance of the historic core re-assays in strengthening the gold potential. With approvals progressing and a drill rig secured, the company’s immediate focus is on efficiently testing these targets to unlock a significant new copper-gold and epithermal gold system in a tier-one mining district.
Bottom Line?
Drilling at Wilga Flats could unlock a major copper-gold system near Cowal, but results from the upcoming drill campaign will be key to validating these promising targets.
Questions in the middle?
- Will the upcoming drilling at Wilga Flats confirm the extent and grade of the copper-gold mineralisation?
- How might results from the Dunedoo Project influence exploration priorities and capital allocation for Koonenberry?
- What is the potential scale and economic significance of the Athena Igneous Complex within Koonenberry’s broader portfolio?