Kula Gold Ltd reports that a planned 380 drill hole auger program is scheduled to commence following Program of Works approval which has recently been submitted to the regulatory authority for the Marvel Loch Airfield Gold Project shown in Figure 1 below.
Figure 1 Location of Marvel loch Airfield Gold Project
The auger drilling program is designed to test previously reported Sons of Gwalia Limited (SOG) generated gold in soil anomalies, as well as Kula generated targets from reprocessed and re-interpreted magnetics.
Figure 2 below shows the planned program over the re-processed magnetics and historical SOG auger geochemistry showing the Crayfish Prospect which is an area of complexity in the magnetics coincident with the largest SOG auger gold anomaly shown in Figures 2 and 3 below.
Figure 2. EL77/2621 Marvel Loch Auger Drilling Program at the Crayfish Prospect outlined in red with planned sampling in yellow.
The program will also test a large circular magnetic anomaly in the centre of the licence. The highest grade SOG sample of 311ppb Au is located on the North West trending structure which extends through the licence from the mineralised amphibolite’s to the South East of the licence. The North West extensions to this structure will be tested by several lines of Auger sampling.
Figure 3 Crayfish Prospect Magnetics and Historical SOG Gold Geochemistry.
A local contractor from the Southern Cross area has been engaged and is ready to start.
Media Release:
Date: 29 September 2020 | ASX Code: KGD
About the Company
Kula Gold Ltd (ASX: KGD) is a Western Australia gold exploration company focussed on large land positions and structural geological settings capable of hosting ~1m oz deposits.
The company has projects within the Southern Cross WA region including Rankin Dome and Marvel Loch, as well as near Kurnalpi and Brunswick. The company has a history of large gold resource discoveries with its foundation Woodlark Island project in PNG.
Contact the Company Secretary on Tel: +61(08) 6144 0592 or via info@kulagold.com.au
