Koonenberry Gold (ASX:KNB) has mobilised a second drill rig to its Enmore Gold Project in northeast New South Wales, aiming to expedite the discovery process. Koonenberry Gold Ltd is a minerals explorer aiming to create value for shareholders through the discovery of Gold and Copper across its diverse portfolio of highly prospective and strategically located projects. The company’s primary focus is the Enmore Gold Project, where previous drilling has revealed broad intervals of gold mineralisation extending from the surface, as well as high-grade gold zones at depth.
The current drilling program includes a 2,000-metre reverse circulation (RC) drill initiative. This drilling will test the 2km shear zone extending from Sunnyside to Hand in Hand. This zone is characterised by robust gold and arsenic soil anomalies, high-grade rock chips, and IP geophysics, defining priority targets that may represent repetitions similar to the significant mineralisation found at Sunnyside. Historical drilling in the area has shown promising results, including intercepts of 6 metres at 2.67g/t Au from 4 metres and 82 metres at 0.17g/t Au from 6 metres, indicating the potential for further discoveries.
Koonenberry Gold’s Managing Director, Dan Power, stated that the second drill rig will focus on discovery drilling along the prospective shear zone, while the current diamond drill program at Sunnyside concentrates on depth and strike extensions. Four target areas have been identified along this trend, exhibiting coincident gold and arsenic soil anomalies, favourable geology, and structures at the contact between granite and sediments. High-grade rock chips, assaying up to 17.55g/t Au, and encouraging historical drilling results further enhance the prospectivity of these targets.
The company is well-funded for ongoing exploration across its projects, with $7.8 million in cash reserves as of September 30, 2025, and potential additional funds from the exercise of approximately 94 million KNBO options expiring in April 2026. Koonenberry Gold anticipates providing regular exploration updates as work progresses.
