⛏️ Kula Gold Limited is pleased to announce its quarterly activity report for the period ending 31 March 2022.

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QAR HIGHLIGHTS

Southern Cross Region:

Boomerang Karolin Prospect

  • RC and diamond drilling at the Boomerang Kaolin Prospect for resource and metallurgical test work completed.
  • RC holes drilled deeper for underlying gold targets.
  • Sedgman appointed to manage the metallurgical test work.
  • HGMC appointed to complete resource estimation

Rankin Dome Project

  • First pass Auger program identified Lithium cluster co-incident with magnetic feature over initial 1.5km extent.
  • Second pass Auger program completed with results pending

Westonia Gold Project

  • First Pass Auger program completed with results pending.

Kula has continued its active drilling and exploration work in the Southern Cross Region during Q1 2022. The Company has completed reverse circulation (RC) and diamond drilling programs at Marvel Loch-Airfield, as well as geochemical sampling (including auger drilling) at both the Rankin Dome and Westonia Projects.

Figure 1. Diamond Drilling at the Boomerang Kaolin Prospect.

Boomerang Kaolin Prospect

  • RC and Diamond drilling was completed in March 2022 with diamond drill core for SG (Specific Gravity) and metallurgical test work sent to the Bureau Veritas laboratory and the process is being managed by Sedgman (ASX: 22 March 2022)
  • Kula has commenced business planning including evaluating a variety of products that may be able to be produced.

Rankin Dome Project

  • First pass Auger drilling identified a Lithium cluster co-incident with magnetic feature over initial 1.5km extent. A second pass Auger program was completed in January 2022 with results pending. (ASX: 3 February 2022)
  • Kula’s Rankin Dome tenement is located approximately 130km NW of the world class Mt Holland Lithium mine in the same terrain of the Yilgarn Province. It is a joint venture between subsidiaries of Sociedad Química y Minera de Chile S.A. (SQM) and Wesfarmers Limited to develop and operate the Mount Holland Lithium Project, which will be a unique, fully integrated producer of battery quality lithium hydroxide in Western Australia.

Auger geochemistry results (Lithium) with regional mag underlaying on E77/2768, showing Lithium results in the SW line of auger drilling

  • The lithium auger geochem results cover an approximate 1.5km extent that remains open in all directions.

Westonia Project

  • A first pass Auger geochemical sampling program was completed over E77/2766 – location shown in the map below, close to the Edna May Gold mine which has a rich history of gold production. Results of the exploration work are pending.

Tenements at Kula Gold’s Westonia Project

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– News Release –

Date: 22 April 2022 | ASX Code: KGD

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, lithium, halloysite and kaolin projects across the Southern Cross region including Marvel Loch, Rankin Dome and Westonia, as well as at 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