657km2 landholding that shares geological similarities with the productive Victorian Goldfields in south-eastern Australia.
Koonenberry Gold Project.
The Koonenberry Project covers approximately 657 km2 , and is located in a geologic setting considered analogous to the prolific Victorian Goldfields located in south-eastern Australia.
The tenure straddles the northern extension of the Koonenberry Gold Field, and the contained New Bendigo Fault, which is partly covered by extensive Cretaceous and Quaternary sediments. Mineralisation in the targeted belt is associated with regionally significant compressive to transpressive structures (shears, fault zones) with mineralisation generally located in or adjacent to lower order structures. A specific combined, targeted innovative geochemical and geophysical program is seen as likely to be effective to potentially delineate a primary source under cover, based on initial review of the extensive available geochemical and geophysical data. This will be subsequently followed up with a reconnaissance drilling programme, subject to initial groundwork results.
Considerable areas within the applied tenure have been described as “highly prospective” by recent studies and to contain a “few large and many small targets” estimated for a total of “+10 Mt” of grades between “1.0 and 40 g/t Gold” (A Mineral System Model For Orogenic Gold Mineralisation in the Koonenberry Belt, New South Wales, Peter M Downes, 2018). The Koonenberry Gold Project adjoins Manhattan Corporation’s (ASX:MHC) Tibooburra Gold Project where Manhattan has recently announced a new high grade gold discovery. As at 2nd November, all Koonenberry tenements have been formally granted.