⛏️ Kula Gold Limited reports anomalous rock chip samples of up to 498.3ppm copper (Cu) in gossanous rock samples on its 100% owned Westonia Project (Figure 1).
Kula’s project is situated less than 5km south of the Edna May Gold Mine (Figure 2) owned by Ramelius Resources (ASX: RMS).
HIGHLIGHTS – (View PDF)
- Maiden exploration program returns additional rock chip samples results up to 498.3ppm Copper and 15.5ppb PGE.
- Co-incident with magnetic structures.
- Gossanous outcrop located.
- Accelerated exploration program being expedited with Heli V-TEM in late November.
Figure 1. Location of Kula’s 100% owned Westonia Project, within the Southern Cross Region.
Further to the Maiden Exploration Program at Westonia (ASX Announcement on 30 August 2022), the Company has additional copper geochemical data that has been collated and reviewed and was completed with ~50m spaced geochemical samples taken on ~400m spaced lines.
Figure 2. Location of the maiden exploration program, located than 5km south of the Edna May Gold Mine.
Results are presented in Figure 3, with observed geostatistics for the sample population presented in Table 1.
Figure 3. Rock sampling and Auger sampling location, showing Copper ppm results for Rock chips and Auger samples. Overlain on magnetics RTP_TMI_overlay_RTP_TMI_VD1
In addition, two photographs with significant gossanous/outcrop copper results are provided (Figures 4 and 5).
Figure 4. Left is a photograph of calcrete possibly silicified amphibolite? outcrop where sample was obtained, and right is the rock chip sample (RK000074) with 498.3 ppm Copper laboratory result. The nature of the mineralisation is indeterminable at present; however, this result appears to be geochemical enrichment within a predictable location of the regolith profile, suggesting the potential for further enrichment at depth.
Figure 5. Left is photograph of a gossan of mafic origin rock type with manganese staining where the sample was obtained, and right is a rock chip sample (RK000091) with 170.8 ppm Copper laboratory result. The nature of mineralisation is indeterminable at present. However, this result appears to be geochemical enrichment associated with a gossan suggesting potential for further enrichment at depth.
This is an exciting set of results with copper elements in addition to the previously announced PGE (Figure 6) and the targeted gold so close to the long-standing producing Edna May Gold Mine.
Figure 6. Rock sampling location, showing Platinum/Palladium results (with rock chips up to 15.5ppb). Overlain on Magnetics RTP_TMI_overlay_RTP_TMI_VD1e.
The Board looks forward to reporting the next phase of exploration being the airborne Heli VTEM and magnetic survey that has been approved by the Board and scheduled for late November 2022.
Competent Person Statement
The information in this report that relates to geology and exploration is based on information compiled by Mr. Ric Dawson, a Competent Person who is a member of the Australian Institute of Mining and Metallurgy. Mr. Dawson is a Geology and Exploration Consultant who has been engaged by Kula Gold Limited. Mr. Dawson 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). Mr. Dawson consents to the inclusion in the report of the matters based on her information in the form and context in which it appears.
News Release
Date: 27 October 2022 | ASX Code: KGD
About the Company
Kula Gold Limited (ASX: KGD) is a Western Australian mineral exploration company with expertise in the discovery of new mineral deposits in WA. The strategy is via large land positions and structural geological settings capable of hosting ~+1m oz gold or equivalent sized deposits including Lithium.
The Company is advancing projects within the South West region of WA for Lithium and Gold at Brunswick, as well as Gold and PGE at Westonia adjacent to the producing Edna May Gold Mine (owned by ASX:RMS) in the WA goldfields.
The Company has a history of large resource discoveries with its foundation being the Woodlark Island Gold project in PNG, (+1m oz Gold) which was subsequently joint ventured and sold to (ASX: GPR).
Kula’s recent discovery was the large 93.3mt Boomerang Kaolin deposit near Southern Cross WA– Maiden resource announced 20 July 2022. This large project is in the economic study phase.
The exploration team are busily working towards the next mineral discovery, potentially Lithium near the world class Greenbushes Lithium Mine.
Contact the Company Secretary for more information – +61(08) 6144 0592 or cosec@kulagold.com.au
