Highlights

  • KNB intersects visible gold in first two Phase II drill holes, confirming down-dip extensions.
  • Mineralisation extended to 425m vertically, with system remaining open at depth.
  • Exploration fully funded with AUD 7.8M cash and potential additional option proceeds.

Koonenberry Gold (ASX:KNB) has intersected visible gold in the first two drill holes of its 10,000m Phase II diamond drilling program at the Enmore Gold Project in northeast New South Wales. Drill hole 25ENDD011 returned 102m @ 1.10g/t Au from 184m, including 44m @ 1.77g/t Au and 9.7m @ 3.57g/t Au. Hole 25ENDD012, drilled further down dip, also intersected multiple visible gold zones, extending the mineralised system below the previous Phase I intersection at 25ENDD003.

Vertical Extension of Mineralisation

The alteration zone, comprising quartz-sericite-carbonate minerals with variable veining and sulphides, has been extended by ~210m vertically below 25ENDD003. Observations indicate that the system remains open at depth and appears to be widening. Visual gold was observed within iron carbonate-quartz-pyrite-arsenian pyrite veins and vein breccias within granite host rock, consistent with the geological model.

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Ongoing Exploration and Funding

A second drill rig is testing the 2km Sunnyside Shear Zone towards the Hand in Hand Prospect. Assays from holes 25ENDD011 and 012 are expected in December and January, respectively. KNB holds AUD 7.8M cash as of 30/09/2025, with additional potential funding from the exercise of ~94 million KNBO options (Ex AUD 0.04) expiring in April 2026.

KNB Managing Director Dan Power commented:

“We have kicked off our Phase II diamond drill program at Sunnyside with more visible gold zones observed in the first two deeper step out holes of the program. Significantly we are seeing alteration, veining and sulphides to 425m vertical depth, indicating that mineralisation likely extends a further 210m underneath 25ENDD003 and remains open. The diamond drill rig will continue to systematically test for extensions to the Sunnyside system at depth and along strike as part of the 10,000m program. To the east, the RC drill rig is currently testing for repetitions of the mineralisation along the Sunnyside Shear Zone towards the Hand in Hand Prospect. This work is ongoing and is fully funded by our AUD 7.8M cash position as of 30/09/2025.”

Geological Context

Phase II hole 25ENDD011 targeted ~115m below the Phase I intersection in 25ENDD003, while 25ENDD012 tested a further ~95m deeper at the granite contact to assess continuity at depth. Results from both holes support the structural model, with mineralisation controlled by the Sunnyside Shear Zone and secondary structures. Observations from Phase I drilling indicate a ~125m wide structural corridor parallel to the granite-sediment contact, prospective for granite-hosted gold.

Share Performance of KNB

KNB was trading 2.50% higher at AUD 0.041 per share as of 18 November 2025.