Kuniko Limited has advanced its Phase 2 diamond drilling program to 1,324 metres across five holes at the Commonwealth Project’s Silica Hill prospect in New South Wales, extending the interpreted mineralised footprint by approximately 100 metres.

The ongoing campaign follows earlier Phase 2 updates that accounted for 724 metres across two holes, marking a substantial increase in overall program meterage as the company systematically tests the geometry and depth extent of the prospect.

Drilling in hole CMKNI010 intersected an approximate 70-metre downhole zone characterized by disseminated sulphides and sulphide-bearing veining. Subsequent drilling in hole CMKNI011 encountered multiple visually prominent sulphide veins, including individual veins up to approximately 50 centimetres thick within silica-sericite altered rhyolite.

Hole CMKNI011 represents a depth step-out targeting the interpreted Northern Lode beneath areas where historical drilling has been limited. Phase 2 operations are supporting a two-lode architecture model at Silica Hill, distinguishing between the Northern and Southern lodes as targets for further extension drilling.

“Phase 2 drilling continues to build our confidence in the scale and continuity of the Silica Hill mineralised system. With 1,324 metres now drilled, we have systematically stepped out from the known mineralisation and are seeing encouraging sulphide development across a significantly expanded footprint.”

— Maja McGuire, Managing Director

Kuniko secured the right to earn up to a 70% interest in the Commonwealth Project from Impact Minerals Ltd through an earn-in and joint venture agreement finalized in October 2025, which requires funding A$3.0 million of exploration over four years.

Laboratory assays from the current Phase 2 program are pending. Kuniko expects to receive these results over the next four to 6 weeks, with an upgraded Mineral Resource Estimate targeted for completion in December 2026.

Read the full announcement: Phase 2 Drilling Expands Mineralised System at Silica Hill