Junee JV Drilling Could Unlock Major Copper-Gold Potential in Lachlan Fold Belt
Koonenberry Gold announces the start of a fully funded air core drilling program at the Junee Copper-Gold Joint Venture Project in NSW, managed by Newmont. The program targets multiple porphyry systems with promising geological analogies to world-class deposits.
- Newmont begins ~11,000m air core drilling fully funded by JV partner
- Koonenberry Gold holds 20% interest, free carried to production
- Drilling targets buried intrusive complexes in cross-arc structural corridors
- Previous drilling identified multiple porphyry systems with significant Cu-Au intersections
- Results expected in Q3/Q4 2025, advancing exploration in a prolific Lachlan Fold Belt region
Background and JV Structure
Koonenberry Gold has announced that Newmont Exploration has commenced a generative air core drilling program at the Junee Copper-Gold Joint Venture (JV) Project in New South Wales. The JV arrangement sees Newmont holding an 80% interest and managing the project, while Koonenberry Gold retains a 20% free-carried interest to commercial production. This strategic partnership leverages Newmont's exploration expertise and funding capacity, with over A$23.9 million already invested in extensive datasets and more than 66,000 metres of prior drilling.
Drilling Program and Targets
The current drilling campaign plans approximately 144 holes totaling up to 11,000 metres, focusing on four key prospect areas: Ant Hill, Kiaree, Kimvale, and Cooba North. These targets are interpreted buried intrusive complexes situated within favourable cross-arc structural corridors, analogous to the geological settings of Newmont's Cadia Mine and Evolution Mining's Northparkes deposits. The program aims to test regional-scale geophysical anomalies, including induced polarisation chargeability features and magnetic highs, which have been linked to porphyry copper-gold mineralisation.
Geological Context and Previous Results
The Junee JV Project lies within the Lachlan Fold Belt, a world-class mineral province hosting significant gold and copper deposits. The geology comprises Late Ordovician volcanics and intrusive rocks overlain by shallow cover sequences, creating a challenging but highly prospective exploration environment. Previous drilling at prospects such as Kurrajong, Rockley, Cooba East, and Three Tree Hill has identified multiple mineralised porphyry systems with notable intersections, including 224 metres at 0.19% copper and 0.20 g/t gold at Kurrajong, and 60 metres at 0.35% copper and 0.10 g/t gold at Rockley.
Exploration Significance and Forward Outlook
This drilling phase represents a continuation of systematic exploration efforts to delineate copper-gold mineralisation in an under-explored but fertile segment of the Macquarie Arc. The presence of multiple porphyry systems with geochemical and geophysical signatures comparable to Tier 1 deposits underscores the project's potential. Managing Director Dan Power highlighted the encouraging nature of previous results and the advantage of Newmont's full funding for this program. Results from this drilling campaign are anticipated in the third or fourth quarter of 2025, which will be critical in assessing the project's resource potential and guiding future development.
Bottom Line?
As Newmont advances drilling at Junee, the next tranche of results could redefine Koonenberry Gold’s growth trajectory in NSW’s prolific Lachlan Fold Belt.
Questions in the middle?
- Will the upcoming drilling confirm extensions of high-grade porphyry mineralisation at depth?
- How might the new data influence Koonenberry Gold’s resource estimates and JV valuation?
- What are the implications for exploration strategy across other Koonenberry projects in NSW?
