Kuniko Limited (ASX:KNI), a mineral exploration company advancing a diversified portfolio of strategic and critical mineral projects, has secured firm commitments for a A$3.75 million placement before costs. The placement, priced at A$0.053 per share, aims to accelerate mineral resource validation and expansion at its Commonwealth Gold–Silver Project in the Lachlan Fold Belt, New South Wales. The placement was strongly supported by existing shareholders as well as domestic and international institutional investors.
The funds raised will primarily be used to accelerate Phase II drilling at the Commonwealth Project, focusing on resource validation and expansion. Additionally, the drilling will test newly defined high-priority targets identified from the recent MobileMT programme. Kuniko’s Commonwealth Project is located within the Lachlan Fold Belt of NSW, one of Australia’s premier Tier-1 mining jurisdictions.
Phase I diamond drilling is currently underway, with approximately 1,200 metres planned to target extensions to known gold and silver mineralisation at Silica Hill, Commonwealth Main, and Commonwealth South. Results from this phase are expected in April 2026. The drilling programme aims to test historical intercepts and areas of geological continuity, supporting mineral resource validation and expansion.
Kuniko Managing Director, Maja McGuire, expressed enthusiasm for the strong support received for the placement. She stated that the funds will enable the company to accelerate mineral resource validation and expansion through Phase II drilling, while also advancing the growing pipeline of high-priority district-scale targets identified across the project area. Kuniko anticipates delivering initial results from Phase I drilling in April, which it believes will provide important momentum as the company continues to unlock the broader potential of the Commonwealth system.
