VISIBLE GOLD AND ALTERATION HIGHLIGHTED IN BELLAGIO DRILLING

Drill Program at Bellagio Gold Prospect Encounters Promising Signs

Koonenberry Gold Ltd (ASX:KNB) has announced that its ongoing drilling at the Bellagio Gold Prospect has encountered visible gold within quartz veins, indicating the potential for high-grade gold deposits. This finding is particularly notable as it lies down dip of a previous 10m @ 1.61g/t Au intersection which did not exhibit visible gold.

Drilling Highlights:

  • Visible gold observed in quartz veins at depths beyond the strongly weathered zone, suggesting the possibility of better gold grades and widths.
  • The presence of sericite-silica hydrothermal alteration and trace arsenopyrite across a zone more than 125m wide, typical of many orogenic gold systems.
  • Assays from the drilling are anticipated in mid-January 2024, with further drilling to be determined based on these results.

Commenting on the drilling results, Managing Director Dan Power said:

The Company is very excited about the discovery opportunity at Bellagio. This high impact Air Core drilling program has met its objectives and we have been able to penetrate below the strongly weathered upper saprolite where better gold grades might be expected. To see visible gold in quartz veins in Air Core drill chips is extremely rare in my experience and therefore extremely exciting. We know we have potential for high grade gold at the Bellagio because we have a previous rock chip sample which returned 39.4g/t Au.”

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Goldman

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