KNB eyes bulk tonnage potential at Enmore gold project
Company says results both confirm continuity and increase confidence
Koonenberry planning +10,000m further drilling to expand mineralisation, which remains open up and down dip and along strike to the northeast and southwest.
Special Report: Koonenberry Gold has extended mineralisation at the Sunnyside prospect within the Enmore project in NSW, hitting 80.5m at 1.45g/t gold in the sixth hole of drilling.
The 302km2 Enmore project is within the underexplored New England Gold Belt, which hosts the 1.7Moz gold-antimony Hillgrove mine, the 8Moz Ravenswood gold mine, the 7.7Moz and 0.36Mt copper Mt Morgan mine and the 2.5Moz Cracow gold mine.
Notable hits from Koonenberry's previous holes at Enmore's Sunnyside prospect include 18.3m at 9.95g/t gold in hole 1, 5m at 11.09g/t gold in hole 2 and 2m at 13.52g/t gold from hole 4.
The sixth hole at the project has now returned 80.5m at 1.45g/t gold, extending mineralisation by about 40m.
With gold prices sitting above A$5000/oz and this continuation of mineralisation, the company believes the project is shaping up to be a big system with the potential for bulk tonnage and good grades.
'This is an exceptional result from our sixth drill hole at Sunnyside where we continue to demonstrate the potential for bulk tonnage and high-grade gold,' Koonenberry Gold (ASX:KNB) managing director Dan Power said.
'Hole 25END006 is around 40m along strike to the SW from Hole 25ENDD003 which returned remarkably similar true widths and gold grades perpendicular to the first order shear zone.
'This indicates good continuity of mineralisation between sections.'
Results from hole 7 – which contained visible gold – along with assays from holes 8-10, are expected early in Q3.
+10,000m of drilling planned
The company is well funded to continue exploration across its projects with more than 10,000m planned drilling at Enmore, backed by $10.35m cash in the bank.
'Koonenberry Gold awaits results from a further four drillholes from our inaugural drill program at Sunnyside,' Power said.
'Assays from hole 25ENDD007, which also returned visible gold, are anticipated in late early July.
'The remaining holes will be reported as they are received early in Q3 CY2025.'
Power said the next phase of drilling is scheduled to commence in August, weather permitting, and 'will be focused on infill and extensional drilling as well as discovery and growth.'
'Koonenberry Gold is extremely encouraged by the success of its first drill program at Enmore and the developing discovery story,' he said.
In addition to the Sunnyside drilling, results from Koonenberry's ongoing soil program will also be used to plan drilling at other prospects in the district.
This article was developed in collaboration with Koonenberry Gold, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
ABC News
4 minutes ago
- ABC News
Relief as disability employment provider Bedford avoids administration
David Stevens has been working at Bedford Industries for almost two decades, but in the past few days, he has felt uncertain about his future. Every Monday to Thursday, he packages boxes for companies such as Doritos and San Remo. "I love it," he said. "It's really good just to do hands-on jobs, and it's really interesting just to do different multiple jobs for different companies." Asked what his favourite part of going to work was, Mr Stevens said: "It's just chatting to all my colleagues and having a talk to them about a couple of things … talking about what's our plans coming up for the weekend and that." That was all thrown into jeopardy on Thursday, when Bedford revealed that it was on the verge of entering administration due to cash flow issues. The state government stepped in on Sunday with a $15 million loan to "stave off" administration, at least temporarily, so the disability employment organisation could get back on its feet. Mr Stevens said he was "shocked [and] disappointed" when he heard that Bedford was in trouble. "We were all heartbroken and shocked." His father Wayne Stevens said the work gave his son daily structure. "It has been something for him to go to on a daily basis, and to me, going to a job in a normal sense is more than just money, it's also giving you a purpose," Wayne Stevens said. Wayne Stevens said he would be concerned for his son and other employees if Bedford was to close. "David was really concerned and when we found out … [Sunday] morning, David felt so relieved, like a weight had fallen off him that he knows that his job is more stable than what it was a couple days ago," he said. "Knowing that David can still go tomorrow [Monday], still enjoy the friendship of his friends, work there for four days a week — that has taken a lot off my mind." It is understood Bedford employs more than 800 staff and supports 1,400 people living with a disability at more than 22 sites across South Australia. In exchange for the $15 million rescue package, the state government will take ownership of Bedford's supported accommodation site Balyana, in Clapham. Treasurer Stephen Mullighan said on Sunday the loan and the transfer of ownership of the Balyana site were "a good way to structure this support, rather than just providing a cash grant with no recourse for the taxpayers in the future". He added that there would be conditions imposed on how the loan was spent. "It won't be a single deposit tomorrow of $15 million and then Bedford has free and unfettered access to it," he said. Advisory and restructuring firm McGrathNicol has been appointed to work with Bedford.
News.com.au
26 minutes ago
- News.com.au
Aussie plan to get AI to fill labour shortages, speed up home building
The Aussie dream is set be given a science fiction makeover, with aspiring property buyers told they could soon be served up houses created, designed and delivered by artificial intelligence. AI is set to muscle its way onto NSW construction sites as new technology is rolled out that promises to slash building times, cut costs and drag the state out of its deepening housing crisis. The AI-driven building systems are expected to help streamline the manufacturing of key housing components like framing and modular fittings, while guiding the assembly process on site. This would potentially smooth choke points in the construction process and help overcome critical labour shortages that have plagued the building industry since the pandemic. Chandolin Construction, partnering with Cuby Technologies, is one of the groups championing the AI rollout, with three pilot projects underway across the state and plans to roll out about 200-300 homes using the technology next year. The plan from there is to scale up the technology for bulk housing production in larger estates. Chandolin Construction director Sarah Dimitrievski said the process 'transforms housing from a labour-intensive construction process into a digitally controlled manufacturing system'. The technology allows much of the construction process to be integrated into one production workflow, minimising the effect of weather delays, subcontractor bottlenecks and tradie wait times. It deploys Mobile Micro-Factories (MMFs) – portable, containerised production facilities that fabricate home components. Once kit is out the manufacturing site, the AI tech guides on how shipping containers should be packed for optimal construction. The containers are then sent to the building site. The process is QR coded. 'It drastically reduces the time, cost and labour required to build high-quality homes, delivering units in 30 to 60 days at a cost that is often one third below traditional methods,' Ms Dimitrievski said. 'This unlocks the ability to scale housing supply rapidly, even in regions with tight labour markets or high material costs, making it an ideal solution for Australia's housing shortage.' Housing Industry Association chief economist Tim Reardon said AI could be a 'real opportunity' for the industry. It was unlikely to put skilled trades out of work but could lower the burden of white collar labour costs involved in regulatory compliance, including in the planning approval process, Mr Reardon said. 'There's more white collar people involved in building a house these days trying to cope with red tape and regulatory requirements of building – which has made homes increasingly expensive – it is in that area that AI presents enormous opportunity,' he said. 'I think that what we're going to see is two particular components of homebuilding that will be really amenable to that and that is the engineering component and the planning component.' Ms Dimitrievski said the kit of parts made with AI-co-ordinated methods includes structural steel frames, PIR-insulated wall panels, helical pier foundations and prefabricated service cores. The materials are industrial-grade, fire, mould, pest and rot-resistant and are engineered for energy efficiency and long lifespan, she added. Ms Dimitrievski said home layouts, facades and finishes can all be tailored to the local market or client preferences. Home buyers have the option to personalise their builds with pre-approved modules. 'If you want each of those homes can be different, however, we're probably going to be doing bulk estates for housing – because we want to get a lot of homes out,' she said. Mr Reardon said AI could inevitably reshape employment in the sector. 'It does mean more homes and therefore more homebuilding which will employ more people. It is simply shifting the cost from nonproductive engagement to productive engagement of the labour force,' he said. 'That argument that AI will take peoples jobs is no different to what we saw in the industrial revolution – it's not that technology takes people's jobs, it does change roles. 'AI won't take your job. Somebody that knows how to use AI will.'
News.com.au
34 minutes ago
- News.com.au
Double Bay waterfront sale falls over, then sells for $2m less
A historic sandstone waterfront mansion in Double Bay exchanged at $22m more than a year ago but the sale fell through ... now, a new deal has just been done. The five-bedroom estate on a 978sqm block at 21 Gladswood Gardens, which was the coach house of the Gladswood Estate, has been owned by the MacMahon family since it was bought for $782,000 in 1983. The sold sticker went up last May, and sources say the expat purchaser back then couldn't sell their Hong Kong property so couldn't proceed. Enter Cohen Handler buyer's agent, Tom Penfold, who's scooped it up for his eastern suburbs lady client at $2m less than the original agreed price. 'A waterfront in Double Bay for $20m — it's a beautiful old sandstone building,' Penfold said. 'My client fell in love with it straight away and we secured it very quickly. 'She love the rawness and the potential.' He says she will do a sympathetic reno — 'she's not going to go crazy' — and move in. The Double Bay case mirrors another in Vaucluse involving one of multi-millionaire William Wu's properties investment properties. The 32-year-old investor and his property developer mother Jing Wang amassed a $100m portfolio of houses from Bellevue Hill to Vaucluse in 2021, including a six-bedroom, seven-bathroom mansion with eight-car garage at 31 Vaucluse Rd, Vaucluse bought for $13.32m. The home, on an 879sqm block and with sweeping iconic views, went up for sale with a $23.8m guide in 2023 and later exchanged for about $24m. But local sources say that deal, too, fell through. That's just exchanged again via Bradfield BadgerFox Double Bay agents Alexander George and Peter Leipnik for about $21m to a local buyer.
