⛏️ Kula Gold Limited has expanded its Brunswick Cu–Ni–PGE, Au Li Project (KGD 100%) and expects to soon announce results from 840 samples that were sent to Bureau Veritas last quarter.
During the quarter Kula expanded the Brunswick Project area after it reached agreement to acquire E70/5560 of 2.9km2 from a private prospecting group for $15,000.
This granted EL hosts the Donnybrook Gold mine (historic) and includes some of the historical shafts and drives still in existence from the mine which operated in 1897-1903, then 1930’s to 40’s as Hunter Venture mine.
Subsequent to the end of the quarter, all of the Company’s Brunswick tenements were granted, with the granting of the principle tenement E70/5599 covering an approx. 45km north/south length.
The Company is presently compiling historical data for the Donnybrook Gold Mine licence area and plans to complete some surveying of the old shafts and use downhole cameras to survey the crosscut drives. Pending landowner agreement, a small surface channel sampling program will be used to define the gold distribution at surface before planning further work.
At the larger Brunswick project, fieldwork by the Company’s geological team has identified potential for three types of mineralisation and these are now the focus of exploration work comprising a large soil sampling program which is well underway with a large quantity of assays pending:
1. Julimar Style Ni-Cu-PGE mineralisation.
2. Epithermal gold mineralisation– as evidenced by the historic Donnybrook Goldmines Ltd south of the licence with production of 1,100oz from 1,497 tons of ore between 1897 and 1904. (Ref: BHP Minerals Ltd DMIRS report of 1 Feb 1987 for exploration work 1985-87)
3. Archean Cu-Au mineralisation analogous to Newmont’s Boddington Copper-Gold Mine 75km NE which is one of the largest gold mines in the world, producing approximately 700k oz Au and 35kt Cu p.a. (Refer ASX release 29 March 2021)
The Company has submitted 840 samples to Bureau Veritas for sieving and Au, Pt, Pd analysis with multielements to be determined using pXRF in house. Laboratory turnaround times have increased substantially in the last three months and assays were still pending for the majority of the samples at quarter’s end.
The company also released an Indicative Exploration Timeline for the Next 3 Quarters in its latest Quarterly Activities Report.
– News Release –
Date: 30 July 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 firstname.lastname@example.org