Kuniko (ASX:KNI) has extended the ‘high-grade’ mineralised system at its Silica Hill prospect by approximately 100m through phase two diamond drilling at the Commonwealth Project in New South Wales.
The company completed two diamond holes totalling 724m. Both CMKNI007 and CMKNI008 intersected targeted zones of alteration, disseminated sulphides, and sulphide-bearing stringer and stockwork veining.
The program drilled CMKNI007 to approximately 60m down-dip and CMKNI008 approximately 40m up-dip of the previously reported hole CMKNI004.
The three holes demonstrate approximately 100m of up-dip to down-dip continuity of the mineralised system, with all holes located outside the existing mineralised block model.
This highlights potential to expand the Silica Hill resource footprint ahead of a planned mineral resource estimate (MRE) update.
CMKNI004 previously returned 3.4m at 50 grams per tonne gold equivalent (AuEq) from 227.5m, including a 0.5m massive sulphide vein returning 347g/t AuEq.
Managing Director Maja McGuire says the first two phase two holes have intersected the targeted alteration and veining zones.
“Importantly, drilling has now demonstrated approximately 100m of continuity across CMKNI007, CMKNI004, and CMKNI008, with all three holes located outside the existing mineralised block model. This provides a compelling opportunity to expand the known Silica Hill mineralised footprint,” McGuire notes.
Assays for CMKNI007 and CMKNI008 are pending, with results expected in September. Phase two drilling continues at Main Shaft and Commonwealth South.
The Commonwealth Project comprises two genetically related deposits within the Lachlan Fold Belt. Commonwealth Main and Commonwealth South represent a polymetallic volcanogenic massive sulphide system, while Silica Hill is an epithermal stockwork vein system hosting ‘high-grade’ silver mineralisation.
KNI holds a binding earn-in and joint venture agreement with Impact Minerals (ASX:IPT) to earn up to 70% of the project by meeting staged exploration expenditure commitments and cash payments.
Kuniko is a mineral exploration company advancing a diversified portfolio that includes the Commonwealth Gold-Silver Project in New South Wales alongside copper, nickel, and cobalt projects in Scandinavia.
Write to JC Villarba at Mining.com.au
Images: Kuniko
