Koonenberry Gold updated its drilling program at the Bellagio Gold Prospect, confirming that visible gold in prior announcements is primarily found within a fracture in a quartz vein.

However, while a cut sample may appear to contain around 1% gold, the actual gold abundance in the entire sample is likely less than 0.1%.

The company cautioned that visual estimates should not be used as a laboratory analysis substitute.

The visual gold sample has yet to be assayed as it does not represent the entire outcrop.