Kula Gold is developing the Woodlark Island Gold Project in Papua New Guinea, with near-term production prospects and significant potential exploration upside. In 2012 Kula Gold submitted a Feasibility Study and Mining Lease Application to the Mineral Resources Authority of Papua New Guinea.
Woodlark Island is positioned within a region of proven large scale gold mines, such as Misima and Porgera (Barrick Gold Corporation), Lihir Island, (Newcrest Mining Limited) and Hidden Valley (Harmony Gold Mining Co. Ltd and Newcrest Mining Limited), and was itself the site of historic gold mining from the late nineteenth century until the early 1960s.
Kula Gold’s wholly owned subsidiary, Woodlark Mining Limited (WML), holds exploration tenements covering over 450km2 in an area that management sees as largely underexplored for gold mineralisation.
On Woodlark Island Kula Gold has access to key infrastructure, including a network of roads and tracks that were constructed by logging operators, an airstrip that was built in World War II, and a deep water harbour capable of accommodating coastal shipping. In addition, Kula Gold has established an 80 man exploration camp in close proximity to the bulk of the current gold resource.
Woodlark Island is part of a Tertiary-aged volcanic island arc complex, part of the Woodlark Oceanic Rise, one of a succession of composite east-west trending island arcs in the eastern region of PNG. The island is generally a low, swampy raised coral platform but with a central core of Tertiary basement rocks exposed as a low, northerly trending range with some isolated hills in the central part of the island.