Karoonda fell to earth at 10:53 pm on November 25, 1930, near the South Australian town of Karoonda. Witnesses in Adelaide reported a huge ball of fire with a flaming tail shooting across the sky. Some reported that the color of the flames changed as it fell, from bright red to pale blue and then yellow. A loud detonation followed by a low rumbling like thunder was heard shortly after the meteorite passed overhead. Most of the meteorite fragments were found in a crater about 2 feet in diameter and 2 feet deep.

The CK chondrites were named for this meteorite.