Kula Gold Limited has released the results from their Auger Drilling program carried out at their Southern Cross Projects in December 2020.
The program produced 267 auger holes across the crayfish prospect at the Airfield Gold Project and the resulting details are below.
> Airfield Gold Project
Marvel Loch, Southern Cross, Western Australia.
The Marvel Loch-Airfield Gold project covers an area of 120km² over the south-central part of the Ghooli Dome, 5km east of the town of Marvel Loch, a major gold mining centre. This region has seen over 15Moz of historical gold production and the Marvel Loch mine and mill continue production under the ownership of Minjar Gold. Historic exploration was carried out by Sons of Gwalia Ltd (“SOG”) in the late 1980’s, and closing reports recommended follow-up drilling of these targets.
Auger Drilling Program Results (December 2020)
An auger drilling program was carried out in December which was designed to test previously reported SOG generated gold in soil anomalies, as well as Kula generated targets from reprocessed and reinterpreted magnetics. The Crayfish prospect was tested with a total of 267 auger holes for 1050m in December 2020 and the claypan area to the east was tested with 14 auger holes. The average depth of the holes was 3.8m and a bottom of hole residual sample (Laterite or Saprolite) was routinely collected from each hole and sent to Bureau Veritas for gold analysis by Bottle Roll and ICP-MS and 14 samples were assayed by Fire Assay and ICP-OES for Au and Multi-elements.
Results of the program show a coherent 700m long, +8ppb Au anomaly as shown in the figure below. Laboratory turnaround times are approximately 4-5 weeks at present.
> The company will commence a RC drilling program to test for the source of the gold at the Crayfish prospect. Rig quotes and regulatory approvals are in progress.
Additionally, further auger programs are planned to test the eastern part of the licence and the southern part of the licence once the appropriate regulatory approvals have been obtained.
For more detailed exploration results and commentary from the Airfield Gold Project please access the Results PDF below.
You can read Kula Gold’s Latest Quarterly Activity Report (Q4 2020) released on 29 January 2021 here.
– News Release –
Date: 30 January 2021 | ASX Code: KGD
The information in this report that relates to geology and exploration is based on information compiled by Mr. Adam Anderson, a Competent Person who is a member of the Australian Institute of Mining and Metallurgy and the Australian Institute of Geoscientists. Mr. Anderson is a Geology and Exploration Consultant who has been engaged by Kula Gold Ltd. Mr. Anderson has sufficient experience, which is relevant to the style of mineralisation, geology and type of deposit under consideration and to the activity being undertaken to qualify as a competent person under the 2012 edition of the Australasian Code for Reporting Exploration Results, Mineral Resources and Ore Reserves (the 2012 JORC Code). Mr. Anderson consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.
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 firstname.lastname@example.org