The Koonenberry Project is an emerging, district scale, copper and base metals exploration package located 80km east of Broken Hill, New South Wales. Access to the project areas is via the Barrier Highway, which connects Sydney to Adelaide via Broken Hill, several sealed main roads, rural roads and farm tracks.

The Koonenberry Project comprises 5 Exploration licences covering 2600km2 and ~150km strike of the significantly under-explored Koonenberry Belt which is considered highly prospective for VMS-hosted Cu–Zn–Ag–Au, magmatic Ni-Cu-PGE, epithermal Ag-Pb-Cu and orogenic Au.

Project Highlights

  • 5 Exploration licences covering 2,600km2 and ~150km strike of the significantly under-explored Koonenberry Belt
  • Highly prospective for VMS-hosted Copper and magmatic Ni-Cu-PGE
  • Grasmere Resource: Indicated and Inferred Mineral Resource Estimate of 5.75 Mt @ 1.03% Cu
    – Higher magnitude anomalism identified along strike and in proximity to the Grasmere deposit
    – Grasmere North Prospect Area – 25km VMS-prospective trend located along strike from the Grasmere Resource
  • Cymbric Vale Prospect: minimal modern exploration has identified significant copper prospectively
    – Two RC drill holes approximately 800m apart were drilled into gossanous surface rocks that outcrop
    – Yielded intercepts of 20m @ 0.73% Cu from surface and 20m @ 0.33% Cu from surface
    – Anomalous surface rock chip samples (up to 5.6% Cu) covering over 1.2 km strike
    – Targets have been identified over >7km of strike
  • Wertago: historic mining trend, highly prospective for VMS along strike
    – Anomalous “Western” trend identified extending over 10km

Location Map

Grasmere Copper Deposit

The Grasmere deposit is the largest copper rich massive sulphide zone identified to date in western New South Wales. Located with the Company’s Koonenberry Project. The Grasmere deposit adds a further 24 km2 to the existing 2,600km2 of the Koonenberry Project. Grasmere contains an Indicated and Inferred Mineral Resource Estimate reported in accordance with JORC (2004) totalling 5.75 Mt @ 1.03% Cu, 0.35% Zn, 0.05 g/t Au, 2.3 g/t Ag

The Grasmere deposit is hosted in a semi continuous mineralised zone over a strike length of 4Km and defined by 75 drill holes and is open at depth and along strike within 21km’s of VMS prospective tenure controlled by Odin.

Grasmere Resource

The Grasmere Mineral Resource Estimate has been classified and reported in accordance with JORC (2004) and is reported below at a 0.5% Copper cut-off grade.

Proposed Work

  • Detailed modern HeliTEM2 airborne electromagnetic (EM) survey has commenced, the survey is the largest ever conducted over the highly prospective southern Koonenberry area and will cover 1,150 km2, focusing on all known mineralised areas as well as potential new trends and is expected to be completed in June 2021.
  • Digital compilation of data from historic works is currently underway and will be completed prior to completion of the HeliTEM2 survey
  • Drilling at the Grasmere Copper Deposit including Regional and follow-up drilling along strike, at Grasmere North and at Cymbric Vale is expected to commence in 3rd Quarter, 2021

Advanced Prospects 

In the near term proposed work consists of regional and follow-up air-core drilling at the Cymbric Vale Prospect and Grasmere North, in addition to digital compilation of data from historic works

Grasmere North

The Grasmere North Prospect Area covers approximately 21km of the prospective trend which is located directly along strike from the newly acquired Grasmere deposit, which reports Mineral Resources (JORC 2004) totalling 5.75Mt @ 1.03% Cu, 0.35% Zn, 2.3 g/t Ag and 0.05 g/t Au (Ausmon, Activities Report June 2020)

Cymbric Vale

Hosted by Mt Arrowsmith Volcanics & high-grade Ponto Group, the region was lightly explored in 2007 by PlatSearch NL. where air-core drilling (20 holes completed regionally) intersected 20m @ 0.73% Cu and 20m @0.33% Cu. This work has never been followed up

Anomalous surface rock chip samples (up to 5.6% Cu) covering more than 1.2 km strike

A 1km long late-time moving-loop electromagnetic anomaly roughly coincident with the zone of workings and gossans

Koonenberry Exploration History

A total of 43 historical exploration licences have covered parts of the area of the Koonenberry Project.

  • High-resolution airborne magnetic and radiometric data were collected over the Koonenberry Project area in a series of four surveys conducted as part of the Discovery 2000 initiative of the Geological Survey of New South Wales.
  • Several airborne magnetic and radiometric surveys were also flown by exploration companies
  • Several companies undertook regional stream sediment, rock chip and soil sampling programs within the area of the Koonenberry Project Licences. Sampling results showed a clustering of high copper values in the far northern end of EL 8722 and surrounding the Grasmere deposit
  • A total of only 71 drill holes for ~6,500 metres of comprising percussion, air-core, RC and diamond have been recorded from the area

Aeromagnetic Survey highlighting Koonenberry Fault Structure, and Grasmere deposit

Mineral System map showing VMS-hosted Cu–Zn–Ag–Au potential

Aeromagnetic Survey highlighting Koonenberry Fault Structure