Kuniko finds gold in all 11 drill holes at NSW project
Mining explorer Kuniko drilled 11 holes north of Orange and all intersected gold and silver, suggesting a significant system.
Kuniko, an ASX-listed exploration company, has completed 11 diamond drill holes at its Commonwealth-Silica Hill project north of Orange in central NSW, and all 11 found gold-silver mineralisation. The latest five-hole phase extended the known mineralised zone by 60 metres down-dip and 40 metres up-dip, showing a total span of roughly 100 metres.
The best result was a 16.3-metre interval grading 1.56 grams of gold per tonne, with a richer 11.95-metre core grading 1.95 grams per tonne. Inside that were veins with much higher grades: 5.17 and 6.23 grams per tonne.
The combined resource at the two deposits stands at 88,000 ounces of gold and 3.3 million ounces of silver. The site sits in the Lachlan Fold Belt, a major mining region that hosts giants like Newmont's Cadia-Ridgeway mine.
- 11 of 11 holes
- Perfect strike rate
- 1.95 grams per tonne gold equivalent
- Best assay grade
- 100 kilometres north of Orange, NSW
- Project location
Why it mattersA perfect drill strike rate suggests Kuniko may have found a significant deposit, which could mean future production and shareholder returns if the resource proves large enough to mine.
AustraliaIf the resource grows large enough, it could create mining jobs and economic activity around central NSW, and boost returns for Australian investors in the company.
✓ Claims checked against the source and corrected before publish. checked 1 h ago
