Koonenberry Gold (ASX: KNB) has defined two gold trends with cumulative untested strike potential of approximately five km at its newly acquired Prince of Wales (POW) project in the Lachlan Fold Belt of NSW.
“Our preliminary work has highlighted the potential for high-grade gold mineralisation over considerable strike lengths at our Prince of Wales Project. At the Prince of Wales trend, gold mineralisation is now confirmed along the 4.0km strike extent of the prospective structure, which is evident in the magnetic data," Managing Director, Dan Power, said.
"Despite historic gold production of 26,000oz at 8.7g/t gold and gold identified in historic sampling, the Project has received no systematic or modern exploration. We are keen to advance our understanding of this project and will plan work to help identify additional targets prior to drill testing.”
Koonenberry Gold’s work programmes saw a suite of 18 grab, outcrop and mullock rock samples taken from the Sybil, Nicholls Prospects as well as the Back Creek Prospects were submitted to ALS for multi-element and Short-wave Infrared (SWIR) analysis. Notable gold-tellurium-lead (Au-Te-Pb) results were received from the Nicholls Au and Back Creek Prospects, with highlights including: 3.37g/t Au, <0.05ppm Te and 0.02% Pb - Nicholls Prospect (Workings), 5.26g/t Au, 1.51ppm Te and 0.76% Pb - Back Creek Prospect (Workings) and 1.86g/t Au, 0.96ppm Te and 0.82% Pb (- Back Creek Prospect (Workings).
The tenor of gold results returned confirms the prospectivity of the project with comparable values to historical rock chip sampling (5.40g/t Au) and limited drilling (2m @ 5.98g/t Au from 32m to EOH). A result of 3.37g/t Au returned from the Nicholls Au Prospect extends the current footprint of the Prince of Wales-Sybil Trend to 4km, with historical workings and test pits developed along this trend receiving only limited shallow drill testing at Prince of Wales and no systematic modern surface geochemistry.
Rock chip results returned along the Back Creek Trend confirm significant gold anomalism including 5.26g/t Au and 1.86g/t Au developed in quartz-limonite (after sulphide & carbonate) veins hosted by pervasive phyllic (sericite-quartz-kaolinite-limonite (after sulphide- carbonate)) altered, andesitic volcaniclastic sandstone.
These gold in rock chip results and associated pathfinder geochemistry support a semi-coincident, large scale, >1km strike, fpXRF Pb-Zn-Cu-Ba+/-As soil geochemical anomaly , which remains open to the South-East.
