Kuniko (ASX:KNI) is targeting an updated mineral resource estimate (MRE) in December after phase-two drilling extended mineralisation at Silica Hill.
All five phase two holes, totalling 1,492m, intersected mineralisation at Silica Hill, part of its Commonwealth-Silica Hill Project in New South Wales. The 2026 campaigns now total 11 diamond holes for 2,731m.
Holes CMKNI007 and CMKNI008 hit broad zones about 60m down-dip and 40m up-dip of phase one hole CMKNI004. The hole returned 84m @ 0.60 grams per tonne gold (Au) and 123g/t silver (Ag).
Kuniko says this extends mineralisation about 100m beyond the historical footprint, with the zone open to the northwest and southeast.
CMKNI011 returned 16.3m @ 1.56g/t gold equivalent (AuEq) from 75.7m and CMKNI008 returned 10m @ 1.33g/t AuEq from 312m. Intervals are downhole lengths, while true widths have not been established.
Geophysics points to a trend extending more than 500m southeast of Silica Hill, plus untested induced polarisation anomalies to the northeast. A deeper conductor sits about 100m from CMKNI004, and CMKNI011 may have been drilled subparallel to it.
Phase-three drilling is planned for the March 2027 quarter at Welcome Jack, Walls, and Stringers, all within 1km of the existing resource.
Managing Director Maja McGuire says the geophysics has given the company a basis for ranking those targets.
“These areas provide a framework for prioritising future exploration,” McGuire says.
Historical drilling at Walls returned 20m @ 0.50g/t Au and 27g/t Ag. Kuniko holds 51% of the project under an earn-in and joint venture with Impact Minerals (ASX:IPT), and can earn up to 70%.
Kuniko is an Australian explorer advancing the Commonwealth Gold-Silver Project in New South Wales alongside battery metals assets in Norway.
Write to JC Villarba at Mining.com.au
Images: Kuniko
