⛏️ Earlier this month, Kula Gold Limited Chairman Mark Stowell spoke with Sonia Madigan from The Market Herald’s ‘Deal Room’ to discuss what the company was undertaking in H1 of 2021.
“We’ve got a new take on things,” Stowell tells Madigan, as Kula’s number of projects in Western Australia reached four in early 2021 with the addition of the Westonia Project next to the Edna May Gold Mine.
“We want to drill in the right place and follow where the gold or the copper is, so we will be doing it carefully as we go. The key with our approach is not wasting shareholders’ money, so if we’re drilling in areas where we’re not getting results we will stop and have a rethink, and hopefully hit it the next time.”
“Westonia now forms part of our Southern Cross projects and we’ve been active in that area for a number of years now. We’ve done more generative and geophysics work on the drilling we’ve been doing in the area, and this identified that quite a lot of the historic work may not have gone deep enough to properly test for gold deposits in the area.”
“These areas have been relinquished by former owners on the basis that they didn’t think there was much there but we’ve got a new take on that and we’re going to tackle it quite heavily this year.”
Stowell also expands on the results from one of the low-cost exploration methods being used by Kula in their Brunswick Project, which can then inform where Kula needs to spend on drilling.
“Here’s an example of what we found in Brunswick just recently driving around, and this rock branded 0.15% nickel, and that gives us the basis to map out and soil sample as to what the bigger picture might be there. And then we’ll bring the drill rigs in and that costs,” Stowell explains.
“A number of projects have advanced through to that stage (of drilling), so there’s the reason for the recent capital raising.”
The full 7 minute interview covered a range of topics including:
- Why Kula targets tenements close to existing gold mines in WA – including the February acquisition of the Westonia Project next to the Edna May Gold Mine and their existing Southern Cross and Brunswick projects.
- The value of investing in the geologists working for Kula.
- The potential copper breakthrough at the Brunswick Project in February 2021.
- Where Kula is RC and Air-core drilling in H1 of 2021 – and how Kula’s recent and current low-cost exploration of new projects is informing these targets.
- The reasons behind capital raising in early 2021, and the reasons behind the current low market capitalisation and the opportunities that presents to grow from.
- How Kula views the potential for commercial arrangements with existing mining infrastructure near Kula’s current projects.
– News Release –
Date: 23 March 2021 | 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 Marvel Loch, Rankin Dome and Westonia, 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 email@example.com