EMX’s organically generated Koonenberry royalty property is located 160 kilometers northeast of Broken Hill in New South Wales, Australia. EMX retains a 3% production royalty on the majority of the property, which is operated by Koonenberry Gold Pty Ltd. (ASX: KNB). EMX also holds a 0.5% production royalty on the privately held Rockwell claim, which is situated in the center of KNB’s property position.
Koonenberry hosts widespread gold occurrences in eluvial/alluvial surficial materials, exposures of gold in bedrock, and coherent gold geochemical anomalies over broad areas. Although there were no records of previous hardrock mining, much of the gold recovered through surface prospecting occurs as coarse specimens with attached “reef” quartz, suggesting a nearby primary source.
Since EMX sold Koonenberry to KNB, there has been continuous advancement of the project via surface exploration programs, drilling, and bulk sample processing. KNB has delineated over six prospective targets zones hosting outcropping reef-hosted gold as well as alluvial occurrences of specimen gold.