Kula Gold (ASX: KGD) has a history of large gold resource discoveries with its foundation Woodlark Island project in PNG where more than 1.6 million oz of gold has been discovered. After the sale of Kula’s interest in the PNG project, it is focused on identifying more gold discoveries in Australia.
The initial exploration concept for its Australian focused activities was to select tenements in greenfield type gold locations in Western Australia using analogue examples of gold in granites as the exploration model. The decision was based on the increasing number of significant granite hosted gold deposits being discovered and or delineated in the Yilgarn Block of Western Australia. The strategy is to identify +1moz gold resources which can be commercially mined.
Kula Gold owns large land positions at Kurnalpi and Marvel Loch hosting significant geological structures capable of hosting +1moz gold resources. The exploration licenses covering 270km2 are positioned adjacent to and around existing large scale gold discoveries.
Low-cost exploration that is effective in providing high-value exploration targets provides maximum leverage for shareholders. A high proportion of capital raised is directed to targeted exploration drilling activities which are de-risked through significant amounts of pre-drilling geophysical review, historical exploration activity research, and cross-referencing with public source data and soil/sedimentary sampling.