Koonenberry Gold Limited (ASX: KNB) is an Australian emerging minerals exploration company making major discoveries of gold and copper across NSW, with drilling programs advancing at pace and delivering strong early-stage results. Backed by a strong technical team and institutional support, the company’s strategy centres on unlocking the discovery potential of its 4,360km² landholding through targeted drilling, systematic geochemistry, and joint venture partnerships. Koonenberry Gold was listed on the ASX on 28 September 2021 at an issue price of AUD 0.113 per share.
Financial Performance
Koonenberry Gold has positioned itself well financially with AUD 6.4 million in cash as at the end of 2024. Its market capitalisation is approximately AUD 50.8 million, supported by a tightly held share structure and investors such as Datt Capital, Lion Selection Group and Lowell Resources Fund. The company has 940.9 million shares on issue, along with 94 million listed options and 10.6 million performance rights. The top 20 shareholders control around 53% of the register, indicating strong institutional and insider backing.
Growth Pipeline and Exploration Strategy
Koonenberry’s broader strategy is built on a tiered pipeline of exploration projects. At the Koonenberry Project, which spans 2,478km², the company is targeting gold and copper systems in a geological belt that has seen minimal exploration. Key targets include Bellagio, Royal Oak Fault, and Delamerian, with early aircore drilling and fieldwork underway.
In the renowned Lachlan Fold Belt, Koonenberry is leveraging two key joint ventures with Newmont, a global gold major. The Junee JV (KNB 20%) and Fairholme JV (KNB 51%) are already drilling large porphyry systems, with strong early mineralisation reported at Kurrajong and Rockley, and magnetic features similar to those at Northparkes.
The company also retains 100% ownership of promising early-stage projects, such as Breakfast Creek and Prince of Wales, where fieldwork has confirmed high-grade surface samples, including up to 18.5% Cu and 7.02 g/t Au.
Strategic Developments
The advanced Enmore Gold Project continues to be a major focus, especially the Sunnyside Prospect, where recent drilling returned one of the most significant intercepts that include 170m @ 1.75g/t gold, including a high-grade core of 18m @ 9.95g/t gold and a peak value of 0.3m @ 144.5g/t gold (Hole 25ENDD001).
This intercept is not only notable for its length and grade but also sits within a +550m long shear zone—indicative of a potentially large mineralised system. Encouraging visuals have also been reported in follow-up holes 25ENDD002 to 004, with assay results pending. Further drilling is underway, with 1,630 meters completed of a planned 3,000-meter program.
Additional prospects at Enmore, including Borah, Sherwood, Queen of Sheba, and Lone Hand, present strong historical grades (up to 234g/t Au) and soil anomalies but remain largely untested by modern methods.
Industry Context and Outlook
As demand for gold and critical minerals, such as copper, remains strong. Koonenberry’s projects are situated within world-class geological belts, including the New England Fold Belt and the Lachlan Fold Belt, which collectively host operations such as Hillgrove, Cadia, and Cowal. Koonenberry’s approach of targeting underexplored terranes using modern exploration models mirrors recent major discoveries such as Hemi (De Grey Mining) and Gruyere (Gold Road Resources). These discoveries started with early-stage greenfield exploration and grew into multi-million-ounce deposits.
Koonenberry Gold presents a compelling opportunity for investors looking to gain exposure to high-potential gold and copper exploration in New South Wales. The company is actively advancing multiple drill-ready projects across proven and underexplored mineral belts, with encouraging early results, the company also backed by a strong financial position, an experienced management team, and a consistent flow of exploration news, Koonenberry is well placed to generate long-term value as it progresses towards defining resources and unlocking the broader potential of its portfolio.
