⛏️ Kula Gold Limited reports that a helicopter VTEM and magnetic survey across the entirety of its 100% owned Westonia South Project (Figure 1) following the Company’s successful maiden exploration program, announced in August 2022.
HIGHLIGHTS – View PDF
- An airborne Helicopter VTEM and magnetic survey has been approved by the Board and scheduled for November at Kula’s Westonia Ni/PGE/Au Project.
- The Westonia Project is situated less than 5km South of the Edna May Gold Mine.
- This survey is to refine drill targets following the successful auger drill program outlining PGE and Gold anomalism.
- Lithium magnetic survey is also planned at the Brunswick Project.
The Company has engaged UTS Geophysics for the survey that will comprise of 417-line km on tenement E77/2766 of the Westonia South Project with 200m line spacing.
Figure 1: Location of Kula’s 100% owned Westonia Project, within the Southern Cross Region.
As previously reported in August 2022, (Maiden Exploration Program – Westonia Project) the Company reported anomalous geochemical results to 125ppb Pt + Pd (combined) and up to 35ppb gold in geochemical auger sampling, as well as 1.85g/t gold in a quartz vein rock sample from a lateritic breakaway.
The survey will hopefully refine drill targets for the potential of a deeper source of mineralisation at this exciting project only 5km from the long-standing Edna May Gold Mine.
Figure 2: Location of the maiden exploration program, located 5km South of the Edna May Gold Mine.
The Company is also awaiting quotes on a detailed magnetic survey at the Brunswick Project, targeting lithium pegmatites, further details to follow.
News Release
Date: 29 September 2022 | ASX Code: KGD
About the Company
Kula Gold Limited (ASX: KGD) is a Western Australia gold exploration company focussed on large land positions and structural geological settings capable of hosting ~1m oz gold or equivalent deposits.
The Company is advancing projects within the Southern Cross region of WA as well as Brunswick, South West of WA. The Company has a history of large resource discoveries with its foundation being the Woodlark Island project in PNG, which was subsequently joint ventured and sold to (ASX: GPR).
Kula’s recent discovery of the 93.3mt Boomerang Kaolin deposit – announced 20 July 2022. This large project is in the economic study phase. The exploration team are busily working towards the next discovery.
Contact the Company Secretary for more information – +61(08) 6144 0592 or cosec@kulagold.com.au
