Koonenberry Gold Limited has defined multiple priority drill targets along the 4.2-kilometre-long Olaf’s Trend at its 100%-owned Wilga Flats Project in New South Wales, with a drill permit submitted and preparations underway.

The exploration program combined soil and rock chip geochemistry, geological mapping, 3D magnetic modelling, and an extensive induced polarisation survey across exploration licence EL 9272, where initial sampling began in September 2025.

Within the Olaf’s Trend, the company identified a large-scale copper-gold target defined by a 1.2-kilometre by 0.5-kilometre copper soil anomaly that coincides with a 600-metre by 100-metre gold anomaly. Recent mapping confirmed outcropping copper mineralisation returning up to 1.37% Cu and 1.27% Cu in rock chips. This mineralisation is hosted in altered basaltic-andesite volcaniclastic rocks and hydrothermal breccias, while 3D magnetic inversion modelling outlined accompanying geophysical anomalies beneath the surface expression.

A separate epithermal gold and base metal target was also outlined following the re-assaying of historical diamond drill core from hole ODH-1, which originally returned an intersection of 11.33 metres at 2.05% lead and zinc from 190.52 metres. Retrospective assaying of available core yielded a broader intercept of 32 metres at 0.10g/t gold from 65 metres, positioned on the margins of a prominent magnetic high.

“Our systematic work at Wilga Flats has rapidly advanced Olaf's Trend from a broad regional geochemical anomaly into two compelling drill-ready targets, which we are now preparing to drill.” — Paul Harris, Chairman

Koonenberry anticipates commencing drilling at Wilga Flats following the completion of current drilling activities at its Dunedoo Project.

Read the full announcement: Priority gold & copper drill targets defined at Wilga Flats