Kuniko is charging back into the field at its high-grade Commonwealth gold-silver-copper project 80 kilometres north of Orange in New South Wales after securing top-tier contractor Titeline Drilling for a significant diamond drilling campaign starting in early July.
The exploration program will put down six priority holes for 1340 metres, targeting aggressive step-out beyond the known mineralisation to fast-track a resource upgrade scheduled for later in the year.
The company says today’s news follows on from an impressive phase one campaign that struck a flawless 100 per cent success rate by hitting mineralisation in all six holes.
The undisputed standout performer was the Silica Hill prospect, where one hole uncovered a massive new mineralised zone 100 metres outside the previously recognised historical resource boundary. The hole yielded an eye-catching intercept of 84m running at 2.6 grams per tonne (g/t) equivalent from 226m.
That monster intercept was supercharged by a 3.4-metre hit grading 50g/t gold equivalent and an eye-popping half-metre massive sulphide vein that ran a bonanza 347g/t gold equivalent, including a staggering 20,603g/t silver and 27g/t gold. The company says the rich feeder system remains completely open up-dip, down-dip and along strike.
Together with lateral extension exploration, the drill bit will be tasked with chasing down deep extensions beneath the historic Commonwealth Main Shaft workings. Earlier drilling proved depth continuity, with one hole hitting 8m grading 8.6 g/t gold equivalent from 94.7m, featuring a richer massive sulphide lens of 3.8m at 17.4 g/t gold equivalent alongside strong zinc and lead credits.
Additionally, the rig will test down-plunge extensions at the Commonwealth South target, where one hole has already nailed a high-grade 7.1-metre gold shoot grading 9.7 g/t gold equivalent from 79.9m, including 3.1m at a higher-grade 21.6 g/t gold equivalent.
Kuniko Limited managing director Maja McGuire said:"The phase one drilling program exceeded expectations,with mineralisation intersected in all six drill holes and delivering new priority targets,including a significant new discovery at Silica Hill."
While precious and base metals dominate the upper system, extensive geophysical data from a recent mobile magneto telluric survey revealed a deep, four-kilometre-long conductive corridor underlying the trend.
Coupled with rising copper concentrations encountered at depth, the technical data hints at a substantial, deep-seated porphyry copper-gold source lurking below, potentially driving the entire hydrothermal system.
Beyond this flagship asset in the tier-one Lachlan Fold Belt, the company maintains a robust diversified exploration portfolio in southern Norway.
The European battery metals-focused package includes the advanced Ertelien nickel-copper-cobalt project alongside the highly prospective Ringerike, Skuterud and Vågå copper assets.
The upcoming weeks will see the company mobilise the equipment to site in NSW, coinciding with a comprehensive regional review of structural targeting to be conducted by specialist consultants Resource Potentials.
Market watchers are likely to see a steady stream of assay results by September, providing critical data to underpin the company’s highly anticipated mineral resource update due in December.
With the drill rig locked in and a pipeline of high-grade targets in sight, Kuniko looks exceptionally well-positioned to unlock some serious value across this fertile district over the coming months.
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