KulaGoldMedia_QAR_HeaderLK_EndSept2021

Quarterly Activity Report – Period Ending 30/09/21

⛏️ Kula Gold Limited is pleased to update exploration activities for the quarter ending 30 September 2021.

KulaGoldMedia_QAR_HeaderLK_EndSept2021

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QAR HIGHLIGHTS

Boomerang Kaolin Prospect, Southern Cross

  • RC Drilling Discovers +42m Vertical Thickness High Quality Kaolin Clays near surface;
  • Drillhole 21BMRC001 intersected 10m @ 7% Halloysite from 40m depth downhole (8.8m true thickness) within an intersection of 55m of kaolin downhole.

Brunswick Cu-Ni-PGE, Au Li Project

  • Results from Company samples up to 7g/t gold and historic BP Minerals/West Coast Holdings Ltd percussion drilling of up to 15m@ 9.92g/t gold from 61m, confirm the gold potential of the wider Brunswick Project.

Airfield Gold Project

  • RC drilling discovers large areas of previously unmapped nor recognised amphibolite/BIF (greenstone) belts in the Marvel Loch Airfield Gold Project.
Figure 1: Kula’s Extensive Southern Cross and Westona Project Portfolio.

Figure 1: Kula’s Extensive Southern Cross and Westona Project Portfolio.

Southern Cross Region (KGD 100%)

The Company reported a major technical breakthrough in the Company’s highly prospective Southern Cross Gold project.

RC drilling discovered large areas of previously unmapped nor recognised amphibolite/BIF (greenstone) belts in the Airfield Gold Project. The Company recognised a geophysical signature associated with the results and has identified numerous repeats of similar greenstone prospects in the region, so Kula has applied for new applications adding to Airfield covering 570km2 .

The Company completed RC drilling at the Airfield Project near Southern Cross WA intersected thick >42m vertical kaolin clay development over the 300m drilled length at the newly named Boomerang Kaolin Prospect. The holes were drilled to test a magnetic anomaly and intersected the deep white kaolin zone.

The results have been received and are shown in Table 1.
KulaGoldMedia_BoomerangProject_Table1_Oct2021

The 10m @7% Halloysite (downhole) was confirmed by SEM imaging analysis by CSIRO (Adelaide). The report noted “good particle separation and spread” for the Kaolinite/Halloysite.

Figure 3. Cross Section of the Boomerang prospect RC drilling showing thick zones of Kaolin clays.

Figure 2. The Drilled Kaolin Intercept at the Boomerang Prospect

An RC drill program is planned in November on the Boomerang Kaolin prospect which will define the kaolin resource and test gold targets beneath the kaolin zone. This program will be followed by diamond drilling for metallurgical test work.

Brunswick Cu-Ni-PGE, Au Li Project (KGD 100%)

During the quarter a total of 8 rock chips were collected from spoil around the Hunters JV headframe and at nearby Mt Cara to the Northwest.
KulaGoldMedia_BrunswickProject_Table2_Oct2021

Figure 3. The Southern End of the Brunswick Project - Donnybrook.

Figure 3. The Southern End of the Brunswick Project – Donnybrook.

In 1983 and 1984 West Coast Holdings (“WCH”) and BP Minerals carried out percussion, reverse circulation, and diamond drilling on the old Donnybrook Goldfield completing a total of 20 drill holes. Significant Intercepts from this program are presented below.

KulaGoldMedia_DonnybrookProject_Table3Historical_Oct2021

Between 1984 and 1985 a joint venture between WCH and BP Minerals followed up epithermal mineralization, delineated by the previous program. Results are presented below.

KulaGoldMedia_DonnybrookProject_Table4Historical_Oct2021

Geochemical sampling at the Brunswick project is ongoing and material results will be released once analysed and interpreted.

The Hunter Venture Headframe Donnybrook Gold Mine WA. Source: www.donnybrookgold.com.au

Figure 4. The Hunter Venture Headframe Donnybrook Gold Mine WA.
Source: www.donnybrookgold.com.au

Southern Cross-Westonia (KGD 100%)

Fig 5. Kula’s tenements in the Westonia area

Figure 5. Kula’s tenements in the Westonia area

All Westonia project licenses have recently been granted, and key landowner access agreements have been put in place. Geochemical sampling programs will commence once the relevant statutory approvals have been obtained.

Kurnalpi-Lake Rebecca Gold Project (KGD 100%)

Figure 5. The Kurnalpi-Lake Rebecca Project map - gold borders denote Kula Gold tenements

Figure 6. The Kurnalpi-Lake Rebecca Project map – gold borders denote Kula Gold tenements

Newly interpreted greenstone traverses into Kula’s ground as shown by the white dotted lines. Recent activity in the area with the takeover announcements for Apollo Consolidated (ASX:AOP) by Ramelius Resources Ltd (ASX:RMS) and then by Gold Road Resources Ltd (ASX:GOR) demonstrate the emerging potential of this area. The Company has approved work programs in place for further work.

Upcoming Drilling

Figure 1. 6 Month Schedule of Drilling Operations for Kula Gold - October 2021

Figure 7. 6 Month Schedule of Drilling Operations for Kula Gold – October 2021

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News Release –
Date: 27 October 2021 | ASX Code: KGD

Competent Persons Statement: The information in this announcement that relates to exploration results is based on information compiled by Company geologists and reviewed by Mr Adam Anderson, in his capacity as the Exploration Manager of Kula Gold Limited. Mr Anderson is a Member of the AUSIMM and AIG and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 JORC Code. Mr. Anderson consents to the inclusion in the report of the matters based upon the 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 various gold, copper, nickel, PGE and kaolin projects across the Southern Cross region including Marvel Loch, Rankin Dome, Boomerang and Westonia, as well as near Brunswick and Kurnalpi-Lake Rebecca. 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 cosec@kulagold.com.au