ASX: KNB - Koonenberry Gold
- Matt Birney
- 6 hours ago
- 4 min read
Koonenberry Gold: Its one of them – an historic gold-copper project with geological goodies everywhere!
Koonenberry Gold Executive Chairman Paul Harris on 3AW, 2GB & 6PR Bulls N' Bears Report
Listen to ASX-listed Koonenberry Gold Executive Chairman Paul Harris talk to Matt Birney on the Bulls N’ Bears Report about Koonenberry’s brand new NSW gold-copper project that is littered with geological signs that are begging to see a modern day drill bit.
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Koonenberry Gold has been steadily building one of the more active NSW gold and copper exploration stories, with its Enmore gold discovery already putting runs on the board and its Lachlan Fold Belt ground giving it multiple swings at big systems. The company has now sharpened that Lachlan push by signing a deal to acquire the Gundagai gold-copper project that pretty much fills in all the ground between its Brungle and Prince of Wales projects.
RADIO INTERVIEW - TRANSCRIPT
Matt Birney - Welcome to Bulls N' Bears, brought to you today by New South Wales gold and copper explorer, Koonenberry Gold
Matt Birney - ASX code: KNB.
Matt Birney - I'm Matt Birney, and I'm joined now by the Executive Chairman of Koonenberry, Paul Harris.
Matt Birney - Hi, Paul.
Paul Harris - G'day, Matt. How you going?
Matt Birney - I'm good. Okay, so Koonenberry Gold has been steadily building one of the more active NSW gold and copper exploration stories, with its Enmore gold discovery already putting runs on the board and its Lachlan Fold Belt ground giving it multiple swings at big systems. The company has now sharpened that Lachlan Fold Belt push by signing a deal to acquire the Gundagai gold-copper project that pretty much fills in all the ground between two of its existing projects.
Matt Birney - All right, Paul. This project is notable, as I see it, for the sheer number of early stage geological goodies literally scattered all across it. Let's start with gold rock chips. I know that there's some historical gold rock chips taken off this project. What were the best of them?
Paul Harris - Oh, yeah. There's some rippers, Matt. Let's start with 386 grams per ton, 320 grams per tonne, 274 grams per tonne, and one more 192 grams per tonne. And there's a plethora of more all the way down to 80 grams per tonne.
Matt Birney - Yeah, that's like coming in at something like 10 ounces to the tonne gold. So, it's pretty good. But I got to say, it's hard for me to work out if this is mainly a copper or a gold plate because when I did a bit of research, I can see some pretty stunning copper rock chips there, too. Right?
Paul Harris - You're right. Absolutely right, Matt. Yeah. 27% copper, 8.6% copper, and a 4.8% copper. So, you're right. Yeah, copper and gold.
Matt Birney - Are there any old drill holes on this thing or is it all surface expressions for now?
Paul Harris - Yes, there are. There are plenty of drill holes. On the gold side, we've had 20 meters at 1.78 grams per tonne from 27 meters. We've got a 9 meter at 3.22 grams per tonne gold from 16 meters and that was mineralised to the end of the hole. And then maybe just pull out one of the copper drill holes that we've got, 2.4 meters at 2.93% copper from 140 meters.
Matt Birney - Yeah, good stuff. Now, one of the hallmarks of this project as I see it, is the absolute plethora of old historical mines and working shafts and adits. When was this project last mined and at what grades? Have you got any old records?
Paul Harris - We do actually. Yeah. One of the old mines, the Snowball copper mine, which was mined around the turn of the century, that was actually being mined at 6% copper and, you know, shafts down 84 meters deep. So, we have to think there's plenty more copper there.
Matt Birney - Yeah, they never got it all those old timers. Now, very quickly, what did you pay for the Gundagai gold-copper project?
Paul Harris - I'd like to say not much. A really good deal for Koonenberry shareholders. Around about 180 grand up front, 12 million shares to the vendors up front on deal completion and 33 million performance rights which are linked to share price performance at 5 cents and 7 1/2 cents, Matt.
Matt Birney - Yeah, I can see you're trading at about 2 point something cents. So if you can get the share price up there, good for you.
Matt Birney - Paul Harris from Koonenberry Gold.
Matt Birney - Thanks for joining me on Bulls N' Bears and remember we're only here to give you information, not advice, which you should of course seek independently.
Matt Birney - I'm Matt Birney and this is Bulls N' Bears.
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