Eurasian Minerals has consolidated more than 2200sqkm of mineral rights in the highly prospective and under-explored Koonenberry gold belt of far western New South Wales, Australia.
The Koonenberry project consists of 13 contiguous exploration licenses acquired either directly by Eurasian's staking, or through agreements with other parties. Koonenberry's potential to host a district-scale discovery is underscored by the substantial quantity of gold nuggets recovered across the area by local prospectors.
These gold occurrences, and other prospective targets, are covered by Eurasian's dominant land position along 100km of the Koonenberry belt's strike length.
The company has begun reconnaissance scale exploration programs across the property position. The initial results are strongly encouraging, and demonstrate the presence of gold in bedrock exposures within the project area.
The Koonenberry project lies adjacent to the northwest trending, regional scale Koonenberry fault that bounds the eastern edge of the Curnamona Craton (Broken Hill Block).
Gold was first discovered within the Koonenberry belt by prospectors using metal detectors, with unconfirmed reports of more than 10,000 ounces being recovered from the near-surface soil profile in recent years. Much of the recovered gold occurs as multi-gram to multi-ounce nugget specimens with attached angular 'reef' quartz, suggesting a nearby primary source.
The Koonenberry gold belt is a new discovery with no records of previous hard rock gold mining in the area despite excellent access, flat topography and relative ease of exploration. The geological features of the Koonenberry belt are remarkably similar to the orogenic deposits of the Victorian Goldfields, also n south-eastern Australia.
Eurasian's exploration objective at Koonenberry is to identify the bedrock source of gold nuggets that have been found within the project area. The nuggets principally occur within a corridor measuring 25 by 10 km in the south-central portion of the property. There are over 100 documented gold nugget occurrences in this corridor, with some locations yielding multiple nuggets that individually can range in size to over 100 ounces.
The majority of the prospective terrain at Koonenberry remains untested, with only 10% of the project area having undergone first pass, reconnaissance level evaluation by Eurasian to date. This preliminary work identified a second set of northwest trending BLEG gold anomalies measuring about 10km along trend in the north-central portion of the property.
The company is conducting a systematic, project-wide exploration program of regolith mapping from satellite imagery, geological mapping, stream and bedrock geochemical sampling, and airborne geophysical surveys. The results from these programs will be integrated and used to select priority follow-up targets for trenching and scout drill testing.