Koonenberry Gold Advances High-Potential Enmore Project Exploration

Koonenberry Gold Strikes Again: Third Drillhole Returns Impressive 102m Gold Intersection at Enmore

Koonenberry Gold's drilling program at the Enmore Gold Project continues to deliver exceptional results, with the third diamond drillhole returning significant gold mineralisation. This latest success further confirms the Koonenberry Gold's Enmore project's potential as a substantial gold system in northeastern NSW.

Impressive Gold Grades Continue with Third Drillhole Success

Koonenberry Gold (ASX: KNB) has announced impressive assay results from its third diamond drillhole at the Sunnyside Prospect, part of the company's Enmore Gold Project in northeastern NSW. The latest results maintain the strong momentum established by previous drilling success at the project.

Drillhole 25ENDD003 has returned 102m @ 1.10g/t gold from 184-286m, including:

• 44m @ 1.77g/t gold from 235-279m
• 9.7m @ 3.57g/t gold from 252.3m

This represents a horizontal width of approximately 80 meters across the strike of the first-order shear zone and a 112.20 gram-meter interval, highlighting the substantial nature of the gold system.

The results from hole 25ENDD003 are especially significant as they targeted mineralisation away from the granite-sediment contact within the defined structural corridor. This corridor is interpreted to be the first-order control on mineralisation and a long-lived hydrothermal fluid conduit.

"This was an important hole for the project and we are pleased to report significant widths of gold mineralisation as well as a high-grade interval at depth, which we have seen in every hole to date implying that gold grades might be increasing with depth," said KNB Managing Director Dan Power.

Consistent Success Across Multiple Drillholes

The latest results continue a pattern of success across Koonenberry's drilling program at Enmore. Previous results from the first two drillholes were equally impressive:

• Hole 001: 170m @ 1.75g/t gold from 77m, including 18.3m @ 9.95g/t gold
• Hole 002: 172.9m @ 2.07g/t gold from 171m, including 25m @ 5.23g/t gold and 5m @ 11.09g/t gold

Together, these results demonstrate consistent gold mineralisation across a significant area at the Sunnyside Prospect, with the system remaining open along strike, up dip, and at depth in the preferred granite host rock.

Understanding the Coarse Gold Component

An important aspect of Koonenberry Gold's Enmore project exploration program has been identifying and quantifying the coarse gold component at Sunnyside. Screen Fire Assays were utilised within visible gold zones to capture any coarse gold mineralisation, with compelling results:

• Overall variance was a 23% increase in Screen Fire gold values in hole 25ENDD003
• For assays >3g/t, the variance increased to 34%

This confirms a strong but repeatable coarse gold component at Sunnyside. Based on these findings, all assays returning >1g/t from the original Fire assay for holes 25ENDD001, 002, and 003 have been submitted for Screen Fire Assay, with an expected overall average increase of 35% in gold values.

Expanding the Mineralised Structural Corridor

Geological observations and assays from hole 25ENDD003 now indicate an approximately 150m wide structural corridor parallel to the granite-sediment contact, prospective for both bulk tonnage and high-grade granite-hosted gold mineralisation.

The drilling results and geological analysis suggest multiple orientations of veining at Sunnyside, with a primary set controlled by the main shear and a second-order cross-cutting set dipping across the main shear fabric. This structural complexity provides numerous targets for further drilling.

What Makes This Gold System Special?

The gold mineralisation at Sunnyside is orogenic in character and structurally controlled, with two main mineralisation events observed:

1. An early sulphidic style mineralisation associated with veins and breccias generally parallel to mylonite zones
2. A later higher-grade mineralisation associated with brittle deformation and quartz-iron carbonate-sulphide veins

The later event typically has a higher proportion of free gold and significantly higher gold grades. Visible gold has been observed in association with very fine-grained pyrite-arsenopyrite-arsenian pyrite veins.

Upcoming Catalysts and Forward Program

Koonenberry Gold's maiden diamond drill program at Enmore has completed 2,117.9m of a planned 3,000m program, with approximately 880m remaining. Results from holes 4 and 5, which also contained visible gold, are expected in early May and late May-early June respectively.

The company is well-funded to continue its exploration activities at Enmore and across its portfolio with $5.35 million in cash as of March 31, 2025. This strong financial position allows for continued junior mining investments and development strategies.

Understanding Screen Fire Assay: The Key to Accurate Gold Measurement

One of the technical aspects worth understanding in Koonenberry Gold's exploration program is the use of Screen Fire Assay (SFA) methodology. This specialised technique is critical when dealing with coarse gold mineralisation.

In conventional Fire Assay, a relatively small sample (typically 50g) is analysed, which can underestimate gold content when coarse gold particles are present. Screen Fire Assay uses a larger sample (1kg) that is dry screened, with the coarse and fine fractions analysed separately and then combined to produce a more accurate total gold measurement.

At Sunnyside, this technique has revealed that conventional assays may be understating gold grades by 23-35% on average, with high-grade samples (>3g/t) potentially being underestimated by 34% or more. This understanding of the "nugget effect" at Sunnyside enhances confidence in the project's potential.

Why Investors Should Follow Koonenberry Gold

Koonenberry Gold represents a compelling opportunity for investors interested in gold exploration for several key reasons:

1. Consistent High-Grade Results: All three drillholes completed to date have returned substantial gold intersections, demonstrating consistency across the target area.

2. Open Mineralisation: The gold system remains open in multiple directions, suggesting significant expansion potential.

3. Increasing Grades with Depth: There are indications that gold grades may be increasing with depth, providing potential for high-grade underground targets.

4. Strong Financial Position: With $5.35 million in cash, the company is well-funded to continue its aggressive exploration program.

5. Strategic Location: The Enmore Gold Project is located just 20km from the 1.7Moz Hillgrove Au-Sb Mine in the New England Fold Belt, an area that hosts several large gold deposits but remains underexplored.

As Koonenberry Gold continues to advance its exploration program at Enmore and across its portfolio of high-quality gold and copper projects in NSW, investors can expect a steady flow of news and potential value-creating developments. Furthermore, for those interested in investing in junior mining companies, Koonenberry demonstrates many of the positive indicators that successful mining ventures often exhibit.

Mining regulations continue to evolve across Australia, with new coal mining regulations in Alberta showing how the industry balances environmental concerns with economic development. In contrast, gold mining often faces fewer environmental hurdles compared to other resource extraction activities.

Investors looking at Koonenberry would be wise to follow timeless investing rules while evaluating this opportunity. Additionally, keeping an eye on larger industry players like Rio Tinto can provide context for how the broader mining sector is performing.

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