Australia's Kuniko Adds Multiple Gold-Silver Drilling Targets

en.Wedoany.com Reported - On August 21, Kuniko completed a comprehensive geophysical assessment of the Commonwealth–Silica Hill gold-silver project in Australia, identifying multiple gold-silver drilling targets within 1 kilometer of the existing deposits. The assessment, conducted jointly by Kuniko and Resource Potentials, integrated recent MobileMT airborne electromagnetic surveys with historical gravity, magnetic, and induced polarization data, bringing a prospective corridor approximately 4 kilometers long on the project's periphery into a unified exploration model.

The Silica Hill southeast extension has been prioritized as a near-term target. Existing Silica Hill mineralization is located at the edge of a gravity low anomaly zone that extends more than 500 meters to the southeast, beyond the current drillhole coverage, and the extension area has not yet been drilled. Phase one drilling at the project intersected 3.4 meters at 50 g/t gold equivalent from 227.5 meters depth, including 0.5 meters at 347 g/t gold equivalent, corresponding to gold and silver grades of 27 g/t and 20,603 g/t, respectively. Ongoing phase two drilling has extended the interpreted mineralization by approximately 100 meters in total in both up-dip and down-dip directions.

The assessment also identified an untested induced polarization high-chargeability anomaly approximately 400 meters northeast of the historic Walls mining area, which coincides with a MobileMT conductive anomaly and is adjacent to the gravity low anomaly corridor. Historic drilling at the Walls mining area returned 20 meters at 0.5 g/t gold and 27 g/t silver, with recent rock chip sampling yielding up to 4.7 g/t gold equivalent. Kuniko plans to advance drilling permits concurrently for the Silica Hill southeast extension, the Walls mining area, and the Stringers mining area, while further narrowing targets through fine-fraction soil geochemical sampling and oriented geophysical surveys.

The Commonwealth–Silica Hill project is located in the Lachlan Fold Belt of Australia, with existing JORC-compliant Inferred Resources at both Commonwealth and Silica Hill, containing approximately 89,000 ounces of gold and 3.3 million ounces of silver in total. Commonwealth is dominated by volcanic-hosted massive sulfide mineralization containing gold, silver, zinc, lead, and copper, while Silica Hill exhibits an epithermal stockwork vein system hosting high-grade silver-gold mineralization.

Kuniko has earned a 51% interest in the project by completing A$1.5 million in exploration expenditure, 12 months ahead of the agreed timeline; the company may invest an additional A$1.5 million over the next two years to increase its stake to 70%. Phase two diamond drilling is currently ongoing, with initial assay results expected to be compiled in September, and a mineral resource update incorporating data from both phase one and phase two drilling is scheduled for completion in December 2026.