Kula Gold Limited has announced plans to add a third licence – Rankin Dome 2 – to their Southern Cross portfolio, after exploration at the end of 2020 discovered Ultramafics with Nickel and Gold potential to the north-west of their existing Rankin Dome and Airfield Gold Projects.
The findings were released in the company’s latest Quarterly Activity Report – Q4 2020 and details are below.
The company has also recently added two geologists (including a Nickel specialist) to the geological team, allowing for more rapid exploration assessment of our projects.
> Rankin Dome 2 Project.
A new licence (E77/2753) was applied for 26km north-west of Southern Cross after a field visit in late 2020 showed Ultramafics outcropping in the north-west corner of the licence application. The magnetic interpretation shows about 6km of potential Ultramafic strike and a further 3.5km of strike in the south-east corner of the licence which require testing.
This licence abuts and extends the company’s existing Rankin Dome Project (E77/2709).
Previous exploration has consisted of 903 surface soil samples which were collected and assayed by Gryphon in 2008. No significant anomalies were generated by this program, however Kula’s work on adjacent tenements indicate several metres of transported cover which may render the historic results ineffective. As such, Kula is planning an auger geochemical sampling program to effectively test target areas from the Kula Gold Ltd magnetics (see figure below).
Historical drilling in 1972 by International Nickel Australia intersected 27m @ 0.17% Ni validating the prospective nature of the Ultramafics which trend south-east into the new licence.
For the geographical location of Rankin Dome 2 (E77/2753) please refer to the map below.
You can read Kula Gold’s Latest Quarterly Activity Report (Q4 2020) released on 29 January 2021 here.
– News Release –
Date: 10 February 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