⛏️ Kula Gold Limited reports positive soil sampling results over an area targeted for Julimar Style mineralisation within the 100% owned Brunswick Project.

The sampling has identified a new area of interest, the Hippy Lady Prospect, which is prospective for both ‘Julimar-style’ Pt-Pd-Au±Cu mineralisation as well as Archean greenstone-hosted gold mineralisation.

HIGHLIGHTS
  • First pass soil sampling identifies Au-Pt-Pd±Cu anomalism coincident with magnetic feature at Hippy Lady Prospect.
  • Ni and Cr values confirm amphibolite of ultramafic affinity

Figure 1. Kula Gold Ltd’s Brunswick Project showing location of the new Hippy Lady Au-Pt-Pd±Cu and Greenstone-Au Prospect

Figure 2: Soil Results over Hippy Lady Prospect (with values for samples > 90th percentile per element labelled) on aerial photograph overlain on tilt magnetics, showing (A) location of soil and rock samples with generalised trend of suspected ultramafic unit and location of Au-Pt-Pd-Cu target area, (B) Pt + Pd soil results, (C) Au soil results, (D) Cu soil results and (E) Ni Soil results.

81 soil samples, targeting a high magnetic responsive unit observed in publicly available magnetics data, were taken over the prospect area. Sample locations and results are provided in Figure 2. Relevant geostatistics for all elements displayed and discussed are provided in Table 1.

Table 1. Geostatistics for selected elements of the 81 soil samples taken over the Hippy Lady Prospect at the Brunswick Project.

Results show statistically relevant Au-Pt-Pd+-Cu anomalism coincident with a circular magnetic feature of approximately 400m in diameter, suggesting potential for Julimar Style mineralisation.

Kula Gold’s Brunswick Project was staked on the concept the PGE system – discovered by Chalice Mining at Julimar – may extend this far south.

Soil Sample BW000947 (Table 2) returned 95ppb Au along with elevated Cu, Mo, W, S and Zn — elements that are often associated with gold mineralisation in the Yilgarn Craton greenstones.

Table 2. Relevant results of soil sample BW000947

Situated along the contact of the Southwest Terrane Greenstones with Yilgarn Craton Granites (simplified GSWA 1:2 500 000 mapping shown in Figure 1), Hippy Lady is sited in a geologically favourable position for greenstone-Au mineralisation due to the known spatial association of many world-class gold deposits along granite – greenstone contacts throughout the Yilgarn Craton.

The soil geochemistry suggests the high magnetic response represents an underlying ultramafic unit, explaining the scattered elevated Ni-Cu-PGE values seen within this trend. The presence of ultramafic rocks is further supported by rock sample BK000012 which returned Ni to Cr ratios consistent with an ultramafic (see Table 3) and is described in the field notes as a coarse-grained amphibolite.

Table 3. Relevant results of ultramafic rock sample BK000012

An infill soils program is being planned to further define the extents of anomalism and define a drill target.

Results from exploration in other areas of the Brunswick project are awaiting results and analysis and will be reported in due course.

– News Release –

Date: 11 May 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