Lion Selection Group (ASX:LSX) has committed to a $1.0 million investment in Koonenberry Gold (ASX:KNB) as part of a $5.0 million placement. This investment will raise Lion’s stake in Koonenberry to approximately 6.8%. Koonenberry has demonstrated strong performance in 2025, driven by successful drilling results at the Enmore project in Northern New South Wales. Significant gold intersections, including 172.9m at 2.07g/t gold from 171m, including 25m at 5.23g/t gold from 195m, have validated Lion’s investment thesis.
Koonenberry’s exploration efforts have focused on a new target at Enmore, targeting gold anomalism around a sediment/granite contact. Initial drilling focused on sediments, but recent results from the granite have revealed materially better mineralization. This new search space offers significant potential, with the sheared contact showing anomalism over 500m of strike. Step-out holes have indicated a thick zone of mineralization, suggesting the potential for a large-scale target.
Lion initially invested in Koonenberry in March 2024, drawn by the company’s pure-play exploration focus. Lion’s investment strategy emphasizes capable management with strong technical skills and well-developed social license credentials, numerous opportunities for discovery, and the ability to invest at a low valuation. Koonenberry met these criteria, particularly following the Gilmore/Enmore acquisitions in November 2024.
