Koonenberry Gold (ASX:KNB) reports joint venture partner Newmont Exploration has commenced a diamond drilling program at the Allawah prospect within the Junee Joint Venture (JV) Project in New South Wales.
Fully funded by Newmont under a 2018 exploration and farm-in agreement, the program covers up to nine holes spanning 1,800m.
Results from previous reverse circulation (RC) drilling at the target include 20m @ 1.15 grams per tonne gold from 54m, including 10m @ 1.84g/t gold from 54m, including 4m @ 2.84g/t gold from 60m and 2m @ 2.47g/t gold from 120m.
The drilling at Junee JV aims to test mineralisation strike extent within the largest gold-in-soil anomaly at the project, which spans over 1.5km by 1km.
It also represents the first drilling program at Allawah since the completion of a dipole-dipole induced polarisation (DDIP) geophysical survey, which defined large-scale resistivity and chargeability features across the prospect.
Chairman Paul Harris says the company is “extremely encouraged” by the commencement of diamond drilling at Allawah, given the limitations of previous testing.
“Previous RC drilling at Allawah was limited to a single nine-hole drill traverse across the largest gold-in-soil anomaly defined on the project to date, which returned very encouraging shallow gold drill intercepts that Newmont is now following up,” Harris says.
Koonenberry holds a 20% interest in the Junee JV, which is free carried to commercial production, with Newmont managing operations.
Results from the current Allawah program are anticipated in Q3 to Q4 of 2026. Meanwhile, Newmont is reviewing additional targets across the JV for possible aircore and diamond drill testing.
Koonenberry Gold is a minerals explorer focused on gold and copper discoveries across its projects in New South Wales.
Write to Paula Fabe at Mining.com.au
Images: Koonenberry Gold
