⛏️ Kula Gold Limited is pleased to report the completion of the maiden Mineral Resource Estimate for the Boomerang Kaolin Deposit near Marvel Loch/Southern Cross, Western Australia.
The JORC 2012 Resource Estimate has verified the resource values for the Boomerang Kaolin Deposit as follows:
HIGHLIGHTS (View PDF):
- JORC 2012 Resource Estimate reports a total resource of 93.3mt of Kaolinised Granite, which is made up of an indicated resource of 15.2mt and an inferred resource of 78.1mt.
- The orebody is open laterally in all directions.
- From discovery to maiden resource of scale with a capex spend of ~$1.2m.
- Commercialisation studies on the Boomerang Project have identified and advanced Metakaolin production for the Green Construction Industry.
- Metakaolin used as a replacement for approximately 15% of cement in concrete production has many benefits. One being a reduction in CO2 emissions ~8t for every residential house.
The Boomerang Kaolin Deposit was first discovered in July 2021 (ASX Announcement 13th July 2021) testing a Boomerang shaped feature in the magnetics. The Company then implemented a comprehensive drill program, within 12 months Kula has converted a discovery drillhole to a maiden resource of scale. This has been completed on a capex of ~$1.2m.
The Board congratulates the team on their dedication in achieving this milestone in record time, in particular:
- The Kula exploration team led by Adam Anderson and Mel Hickman;
- Our independent consultants HGMC, Sedgman, Bureau Veritas, and GdB Database for their work in their components for the JORC Resource Estimation by HGMC; and
- the drillers, contractors, suppliers, farmers and hotels, especially in the Southern Cross and Marvel Loch area for their invaluable support and assistance.
Commercialisation studies on the Boomerang Kaolinite Project have identified and advanced Metakaolin production for the Green Construction Industry. A new wholly owned subsidiary Boomerang Kaolin Pty Ltd has been incorporated.
The use of Metakaolin as a replacement for approximately 15% of cement in concrete production has many benefits. For every residential house built using 100t of concrete, there is a reduction of ~8t in carbon dioxide (CO2) emissions. In addition, we will see improvements to many concrete properties, such as increased “early” and “cured” strength, increased flexural strength, increased concrete density, reduced porosity (which leads to a lower temperature during hydration and therefore, less shrinkage and cracking), less permeability (which leads to reduced risk of concrete cancer) and greater durability, all for nominal additional cost.
Study work to date suggests that the Boomerang Kaolin mineralisation supports the development of a shallow open-pit long life mine, combined with industry-standard processing technology.
The deposit remains open laterally in all directions and logistics are exceptional, as indicated below, being a tar road through the tenement within 4km of the deposit, and the Marvel Loch townsite 5km, and rail siding at Southern Cross 43km.
The Boomerang project team continue to work on the commercialisation process, metallurgical studies, and with consultants and regulators to progress the agreements and approvals required for any future development. Further details will be reported as material advancements are achieved.
More detail is set out in the Kula Boomerang Kaolin presentation found at www.kulagold.com.au/boomerang-kaolin and in the Independent Resource Statement and JORC Table 1 below.
View Full JORC Resource Release
– News Release –
Date: 20 July 2022 | ASX Code: KGD
Competent Person Statement – Mineral Resource Estimate
The information in this report that relates to mineral resource estimation is based on work completed by Mr. Stephen Hyland, a Competent Person and Fellow of the AusIMM. Mr. Hyland is Principal Consultant Geologist with Hyland Geological and Mining Consultants (HGMC) and holds relevant qualifications and experience as a qualified person for public reporting according to the JORC Code (2012) in Australia. Mr. Hyland is also a Qualified Person under the rules and requirements of the Canadian Reporting Instrument NI 43-101 Mr. Hyland consents to the inclusion in this report of the 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, 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 firstname.lastname@example.org