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Kuniko Limited (ASX:KNI)

ALERT: Price-sensitive ASX Announcement for KNI
Current share price for KNI : $0.022 -0.013 (-37.14%)+
Announcement
Release
27 May 2026 8:26AM
Price at Release
$0.035
Full Release
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Summary
Kuniko Limited has completed Phase 1 drilling at the Commonwealth-Silica Hill, confirming high-grade polymetallic mineralization, primarily gold and silver, with additional base metals. The drilling program consisted of six diamond holes, totaling 1,239 meters, yielding compelling gold equivalent grades. The project, located in New South Wales' Lachlan Fold Belt, presents significant exploration potential. Kuniko plans to commence Phase 2 drilling in early July to further explore and expand mineralization. The company, through a joint venture with Impact Minerals, aims to earn a 70% interest in the project, which has been historically explored with substantial data already available.
Key Points
  • Phase 1 drilling at Commonwealth-Silica Hill completed with six diamond drill holes totaling 1,239 meters.
  • High-grade gold and silver mineralization confirmed with additional zinc, lead, and copper credits.
  • Gold equivalent (AuEq) grades calculated to demonstrate the value potential of the polymetallic system.
  • Phase 2 drilling scheduled to start in early July to test extensions and new targets.
  • Commonwealth Project is part of the Lachlan Fold Belt with significant exploration upside.
  • Kuniko Limited aims to earn up to a 70% interest in the project through a joint venture with Impact Minerals.
  • Historic exploration by Impact Minerals includes 87 drill holes and systematic sampling.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.