en.Wedoany.com Reported - Australian mineral exploration company Kuniko Limited (ASX: KNI) announced on June 9, 2026, that it has secured a diamond drill rig and plans to commence the second phase of drilling in early July 2026 at its Commonwealth–Silica Hill gold-silver project in New South Wales, aiming to advance the project's mineral resource estimate upgrade.
Founded in 2017 and headquartered in Perth, Western Australia, Kuniko Limited is an Australian Securities Exchange-listed mineral exploration company focused on the exploration and development of precious and base metals. Its flagship Commonwealth–Silica Hill gold-silver project is located in the Lachlan Fold Belt of New South Wales, a globally renowned mining province hosting world-class operating mines such as Cadia-Ridgeway, North Parkes, and Cowal. The project currently has JORC (2012)-compliant inferred mineral resources totaling approximately 89,000 ounces of gold and 3.3 million ounces of silver, with mineralization occurring within about 250 meters of the surface and remaining open along strike and at depth.
The advancement of the second phase drilling plan is based on excellent results from the first phase. Kuniko completed the first phase of diamond drilling from April to May 2026, totaling 6 holes for 1,239 meters, with all 6 holes intersecting mineralization. Notably, hole CMKNI004 in the Silica Hill zone discovered a new high-grade mineralized zone approximately 100 meters from the known mineralization, with a width of 84 meters and a gold equivalent grade of 2.6 g/t (including 0.6 g/t gold, 123 g/t silver, 0.08% lead, and 0.16% zinc). This includes a 3.4-meter interval with a gold equivalent grade of 50 g/t (including 4.1 g/t gold and 2,947 g/t silver) and a 0.5-meter high-grade vein with a gold equivalent grade of 347 g/t (including 27 g/t gold and 20,603 g/t silver).
The second phase plan includes 6 diamond drill holes totaling approximately 1,340 meters, focusing on testing three key targets—the Commonwealth Main Zone, the Commonwealth South Zone, and the extension of the newly discovered Silica Hill mineralized zone—aiming to increase the scale and confidence of existing inferred resources and achieve a project mineral resource estimate upgrade in the second half of 2026. Kuniko Managing Director Maja McGuire stated that the first phase drilling intersected mineralization in all 6 holes, with results exceeding expectations, not only validating the continuity of the mineralized system but also identifying a new high-grade mineralized zone approximately 100 meters from the existing mineralization, demonstrating the project's significant growth potential.
The commencement of the second phase drilling will provide key data support for further expanding the gold-silver resource scale of the Commonwealth–Silica Hill project.
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