Kuniko Limited (ASX: KNI) | Commonwealth Silica Hill Project Phase 2 Drilling Commences
MarketOpen Trading Titan | Kuniko Limited (ASX: KNI) | Commonwealth Silica Hill Project Phase 2 Drilling Commences | Announcement Date: 13 July 2026
Kuniko Limited has commenced Phase 2 diamond drilling at its Commonwealth Silica Hill Gold Silver Project in the Lachlan Fold Belt, New South Wales. This episode breaks down what Phase 2 is targeting, what Phase 1 delivered, and why the program matters for investors tracking the company's exploration progress.
Phase 2 drilling has opened with six diamond drill holes and approximately 1,350 metres of planned drilling, targeting the Silica Hill discovery, Commonwealth Main Shaft, and Commonwealth South. The program can expand to 14 holes and approximately 3,340 metres subject to results.
Phase 1 hit mineralisation in all six holes. The Silica Hill discovery returned 84 metres at 2.6 grams per tonne gold equivalent, including 3.4 metres at 50 grams per tonne gold equivalent and a half metre interval at 347 grams per tonne gold equivalent with silver over 20,600 grams per tonne. Commonwealth South returned 7.1 metres at 9.7 grams per tonne gold equivalent. Commonwealth Main Shaft came in at 8.0 metres at 8.6 grams per tonne gold equivalent.
Phase 2 allows Kuniko to test extensions of known mineralisation and assess the broader Welcome Jack trend, which the company considers a potential gold silver system extending across approximately 5 square kilometres. Additional targets identified through geophysical work include an approximately 4 kilometre conductive corridor and historic undrilled shafts at Walls and Stringers.
Key milestones investors should watch: Phase 2 assay results expected in early September 2026, and an updated Mineral Resource Estimate for Commonwealth Silica Hill targeted for the second half of 2026.
No financial figures, funding position or commercial agreements were included in this announcement. Listeners should review the company's broader financial position independently.
This episode is for information purposes only and does not constitute financial advice. Always do your own research and consider your personal financial circumstances before making any investment decision.