Fig 1: KMP Tenements with ASQ gold anomaly area and the Late Time FLEM Conductors
Gold in Soil Anomalies
Soil sampling was competed late in 2022 and continued in 2023 across the Golden Wishbone Gold Trend, an area of strong gold anomalism that includes the historic small scale gold mining recorded at the Golden Wishbone Shaft in the late 1930’s with 204 ounces produced at an average grade of 18g/t and no modern exploration recorded. Results from these samples are highly encouraging (ASQ (2022). Extensive Gold in Soils Anomalies Detected. ASX Release 7 December 2022). Gold exploration within the KMP leases has continued through 2024. An independent review of gold exploration to date and gold prospectivity was recently completed with further infill soil sampling recommended and now completed ahead of planned drill testing of resulting soil anomalies.
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Figure 2: Koolyanobbing Metals Project September 2024 Drilling Areas
In the latter half of 2024 a total of 16 reverse circulation (RC) holes for 1,479m were drilled at the Golden Wishbone, Golden Wishbone SE, Emu and Island Gossan targets (ASQ (2024). Encouraging Gold Results From Exploration Drilling. ASX Release 17 October 2024). Additional drilling has recently been completed with results pending.
Preliminary 4m down hole composite sample results have been received and include:
Golden Wishbone
- 4m at 4.4 g/t gold from 8m in ASQRC015.
- 4m at 1.2 g/t gold from 24m in ASQRC013.
- 4m at 0.2 g/t gold from 56m in ASQRC016.
Emu
- 8m at 0.7 g/t gold from 60m including 4m at 1.1 g/t gold from 64m in ASQRC012.
- 8m at 0.3 g/t gold from 8m including 4m at 0.5 g/t gold, and
- 4m at 0.2 g/t gold from 20m in ASQRC011.
- 4m at 0.3 g/t gold from 12m, and
- 4m at 0.2 g/t gold from 24m in ASQRC006.
- 4m at 0.2 g/t gold from 12m in ASQRC009. Golden Wishbone SE
- 4m at 0.2 g/t gold from 32m in ASQRC005.
Figure 3: Soil Sampling and Drilling Results at Golden Wishbone Target ![]()
Figure 4: Cross Section of the Golden Wishbone Target with Significant Intercepts
All 2024 program results to date are from 4m down hole composite samples. Individual metre samples from all significant intercepts have been lodged for the coarse gold method Screen Fire Assay. Data compilation and georeferencing of non-digital data recently identified in the Golden Wishbone SE target area is underway. Future planned work includes reprocessing of recently released high resolution magnetics data to assist with identification of gold mineralisation controls followed by infill and extension drilling of reported zones of mineralisation and other target areas.
Late Time Ground EM Conductors
Ground based fixed loop electromagnetic (FLEM) surveys identified three well defined, late time, fixed loop electromagnetic conductors (ASQ (2023). Ground EM survey identifies three late time conductors at the Koolyanobbing Metals Project. ASX Release 7 March 2023). Conductors VC4 and Island Gossan were each tested with a single drillhole without intersecting significant mineralisation. In both cases, the conductor was explained by the observation of fresh disseminated to stringer iron sulphides. Conductor VC5 needs to be tested by a drill hole collared on the surface of the Lake Seabrook salt lake.
