The Koonenberry project is located less than 100km from Broken Hill in northwest New South Wales.
Earlier in the year, Ausgold completed a 1,100 line-kilometre airborne electromagnetic (AEM) survey over the Grasmere Knee Zone in the southern part of the Koonenberry Belt - an area considered prospective for volcanic massive sulphide (VMS) copper ore bodies.
The conductive nature of the area's overburden and groundwater has limited the depth penetration of the AEM system and obscured the response of potential conductive bodies buried beneath the younger sediments.
Based on the geological setting, Ausgold remains confident the Koonenberry project has the potential to host significant copper mineralisation.
Ausgold is currently formulating an appropriate exploration strategy for the Koonenberry project that will include the re-logging of historic diamond core from the Company's tenement areas, with a particular focus on the previously recorded copper mineralisation.
