Koonenberry Gold (ASX:KNB) said Newmont Exploration, a unit of Newmont, has completed a generative air core drilling program at the Junee joint venture and Fairholme projects in New South Wales, according to a Friday filing with the Australian bourse.
Results from 94 holes drilled at the Junee project yielded 33 meters at 0.11 grams per tonne grade of gold from three meters and two meters at 0.11% copper from 33 meters, the filing said.
While drilling at the Fairholme project did not yield any significant results, the filing added.
Results from both projects will be further assessed before determining next steps, the company said.
Shares of the company rose 3%, while shares of Newmont rose 1% in recent Friday trade.
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