Kula Gold Limited is pleased to report this major change to the existing interpretations of the Ghooli Dome near Marvel Loch/Southern Cross, Western Australia.
Kula’s drilling and analysis by Senior Geologist, Melanie Hickman, has overturned 120 years of geological understanding that the Ghooli Dome is a granite (Mapped in pink – Figure 1) and of minimal geological interest.
HIGHLIGHTS (View PDF)
- Technical review of the RC and diamond drilling data from the Boomerang Kaolin Deposit drillout, which included extending RC drill holes through to fresh rock.
- Gold including 1m @ 2.6g/t below kaolin and near end of hole 21BMRC024 – Ballantine-White Gold Prospect.
- The source rock is of a Pegmatite, Amphibole and Ultramafic host.
- Significant geological implications – potential Lithium Caesium Tantalum mineralisation and Gold Copper, Nickel, and PGE targets.
- Highly anomalous molybdenum (Mo) (and enriched tungsten, W) returned from Crayfish diamond core including 0.8m @ 223.5ppm Mo from 138.2m depth in 21CYRD003. Pathfinder geochemistry suggests a deep mantle source.
- Melanie Hickman – Kula’s Senior Geologist is presenting at the AIG MEGWA monthly meeting tonight and anyone interested should attend.
Figure 1: Map of Kula’s Southern Cross Projects.
Kula’s drilling (both in April 2021 and December 2021 – January 2022) is the first in this large tenement holding of 120km sq next to the Marvel Loch gold mine and mill, and demonstrates the clear geological potential of this area for:
- Gold
- Copper-Nickel-PGE’s
- Lithium … pegmatites to be reanalysed from both lithium, caesium, and tantalum. Potentially need to work out which pegmatite intrusive event has lithium – correlate to the nearby Mt Weld and Mt Holland Deposit.
- Molybdenum-tungsten associated with deep mantle calc-alkaline intrusive stocks.
The Boomerang Kaolin Deposit was first discovered in July 2021, 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 now undergone further technical evaluation and has led to a startling conclusion that the host includes ultramafic, mafic and pegmatitic source rocks.
What about the results?
- 1m @ 2.6g/t gold in 21BMRC024 (Ballantine-White Gold Prospect).
- Copper-Nickel-PGE anomalism in 21BMRC023 (bogged in clay).
- 93.3Mt kaolin deposit.
- Silica-sericite-fuchsite-arsenopyrite alteration was observed and this alteration shows that the right fluids for gold, have passed through the folds at Boomerang in the vicinity of existing world class deposits.
- Diamond drilling at Crayfish (conducted November 2021) returned 10.17m @ 76.4ppm Mo from 135.64m depth, including 0.8m @ 223.5ppm Mo from 138.2 in 21CYRD003, hosted in a garnet-altered amphibolite situated proximal to a later intrusive which geochemistry suggests formed from deep mantle source.
Figure 2: Drill significant gold mineralisation
Figure 3: Drill significant copper, nickel, cobalt, platinum and palladium mineralisation
What does this mean for Kula Gold exploration?
- Demonstrate same subtle features in the magnetics of other domes.
- Potential for these ‘domes’ to be mineralised with:
- • Gold
- • Copper-Nickel-PGE’s
- • Lithium … pegmatites to be reanalysed from both lithium, caesium, and tantalum. Potentially need to work out which pegmatite intrusive event has lithium – correlate to the nearby Mt Weld and Mt Holland Deposits?
- In addition, the GSWA may need to recolour the geological maps in the areas around previously labelled domes from pink to green!
The deposit remains open laterally in all directions and logistics are exceptional, as indicated above, being a sealed 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.
Contributing Consultants’
Competent Person Statement – General
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.
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.
Reference:
- ASX Release Diamond Drilling at Crayfish Gold Prospect at Marvel Loch – Airfield Project – 15 December 2021
- ASX Release Boomerang Kaolin Project – Maiden JORC Resource 93.3mt Kaolinized Granite – 20 July 2022
News Release
Date: 16 November 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
