⛏️ Kula Gold Limited is pleased to announce a new gold prospect has been identified at the Marvel Loch-Airfield Gold Project (KGD 100%) at Southern Cross.
HIGHLIGHTS
- G-Star Gold Prospect identified from first pass Auger geochemistry sampling.
- 217 follow up auger geochemistry samples recently completed.
- Results of up to 18ppb gold define a northwest- southeast striking geochemical anomaly that extends over 2,200m and is open to the northwest.
- Located 3.5km north of the Nevoria Gold Mine (+600,000oz gold), and 9km east of the 3 Moz Marvel Loch Gold Mine, the G-Star Prospect sits within the Ghooli Dome.
- Kula geologists consider the possibility that G-Star is underlain by amphibolite and BIF greenstone (the predominant host rock of most of the gold deposits in WA).
First pass auger geochemistry sampling has defined the newly named G-Star Prospect, which extends over a strike length of 2,200m in the Southeast of E77/2621 (Figure 1).
Figure 1. Kula Gold Ltd’s Marvel Loch – Airfield Gold Project showing location of the new G-Star Gold Prospect, Boomerang Kaolin Prospect and Crayfish Gold Prospect.
Sahara Operations (Australia) Pty Ltd completed first pass auger geochemistry sampling on behalf of Kula in April 2021 (refer ASX releases 12th April 2021 and 2nd July 2021), with 215 samples taken over the G-Star area (Figure 2).
Samples were taken at a median depth of 2m and targeted the interface below the transported cover. Results of up to 18ppb gold define a northwest- southeast striking geochemical anomaly that extends over 2,200m and is open to the northwest (Figure 2).
Figure 2. Kula’s new G-Star Gold Prospect identified from results of first pass auger geochemistry sampling (yellow, green and blue dots), and location of the recently completed follow up auger geochemistry samples (white dots).
Kula engaged Sahara’s Mobile Auger Rig to complete a further 217 infill auger geochemistry samples at G-Star during October 2021.
Company geologists were onsite for the start of the program to ensure sampling of the correct horizon via appropriate sampling technique. Haematitic lateritic soils and saprolite clays—a favourable sampling medium—were observed. Sample locations are provided in Figure 2.
Kula geologists consider the possibility that G-Star is underlain by amphibolite and BIF greenstone (the predominant host rock of most of the gold deposits in WA).
G-Star may be much like the previously unmapped greenstone discovered by Kula in a major technical breakthrough during RC drilling at the nearby Crayfish Gold Prospect (refer ASX release 2nd July 2021).
The highly prospective greenstone belts of the Southern Cross Region have produced over 15m ounces of gold to date, at an average of 3-5g/t gold and are the reason Kula staked this region as its lead project.
Should auger geochemistry provide sufficient data to define a drill target within the prospect area, then a RC drill rig will be mobilised with some urgency to test the target. Results from geochemical assays (gold and multi-element) will be reported in due course.
RC drilling of the Boomerang Kaolin Prospect is scheduled to start next week.
For the full table of JORC data please download the PDF.
– News Release –
Date: 9 November 2021 | ASX Code: KGD
Competent Person Statement: The information in this report that relates to geology and exploration is based on information compiled by Mrs. Melanie Hickman, a Competent Person who is a member of the Australian Institute of Mining and Metallurgy and the Australian Institute of Geoscientists. Mrs. Hickman is a Geology and Exploration Consultant who has been engaged by Kula Gold Ltd. Mrs. Hickman 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). Mrs. Hickman consents to the inclusion in the report of the matters based on her information in the form and context in which it appears.
About the Company
Kula Gold Ltd (ASX: KGD) is a West Australian 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, halloysite and kaolin projects across the Southern Cross region including Marvel Loch, Rankin Dome, 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
