Kula Gold Limited reports excellent progress on potential lithium bearing pegmatites at its 100% owned Brunswick Project, approximately 45km North of the world’s largest hard rock lithium mine, Greenbushes Lithium Mine in Western Australia.
Kula Chief Executive Officer Ric Dawson said:
“Today’s update is a solid advancement on the Brunswick Project, moving to our first lithium drill target with a 1.7km lithium anomaly, adjacent to the DBGM gold drill targets. Two styles of different targets in our next drill campaign will be really interesting.”
HIGHLIGHTS [View PDF]
- Donnybrook Gold Mine Prospect – Lithium soil anomaly extended to 1.7km.
- A drone magnetics survey is due to commence to further refine drill targets.
- Drill planning for a short, focused scout program.
- First highly anomalous tantalum (Ta) rock chip results to 46ppm on new Hippy Lady East Target, extending past soil geochemistry anomalous results, Ta is one element of LCT (lithium caesium tantalum) mineralisation.
Figure 1: Kula’s Brunswick Project DBSZ and location of Greenbushes Mine and infrastructure.
Brunswick Project – 100% owned
Ground exploration has increased with the number of pegmatite targets being mapped, rock chipped and this work is continuing. Rock chip samples have been sent to the laboratory for multi-element analysis that includes not only Lithium (Li) detection but additional pathfinder elements Caesium (Cs), Niobium (Nb) and Tantalum (Ta) and will be reported in due course.
DBGM Prospect – 100% owned
Further to a recent soil program in the northern portion of the tenement (Figure 2), the target has increased by over 700m in strike for a total potential strike of 1.7km with up to 102ppm lithium which is encouraging for surface sampling. Lithium due to its high mobility in the weathering zone is normally very low and these results are above background measurements.
Figure 2: DBGM Prospect with updated soil sample locations with anomalous lithium geochemistry analysis adjacent to the historic Donnybrook Gold Mine (ASX Announcement 14 November 2022).
A prospect scale drone magnetics survey is planned for this quarter that will allow for interpretation of zones of dilation or move that would allow pegmatites to come to the near surface. It is also anticipate upon successful interpretation of the magnetic survey that a RC drilling program could also be planned for this next quarter.
Hippy Lady East Target – 100% owned
37 Recent reconnaissance mapping and rock chipping has detected two anomalous tantalum reading of 46ppm and 14ppm with is significantly above background of approximately 1ppm (Table 2). This is the first highly anomalous analysis for Kula’s exploration team. The significance cannot be overstated on virgin ground and now provides the team to do substantially more mapping, rock chipping and now soil sampling will be added to the activities this quarter on this target area. The regional magnetic image (Figure 3) is at a regional scale and a drone magnetics survey will be conducted at a prospect scale of 25m line spacing to determine structures below the surface that may indicate dilation or movement that will allow pathways for pegmatites to come to the near surface.
Figure 3: Regional magnetics TMI RTP with anomalous tantalum rock chip locations and results as well as soil samples.
Exploration work continues in the field and further results will be reported in due course.
News Release
Date: 20 February 2023 | ASX Code: KGD
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 his information in the form and context in which it appears.
References:
ASX Release- Donnybrook Gold Rock Samples up to 7.95g/t Gold at the Donnybrook Gold Mine Prospect – Brunswick Project Advancing- 4 June 2022
ASX Release- Lithium Pegmatites Identified at Brunswick -7 September 2022
ASX Release- Pt/Pd/Gold results- Westonia Project- 30 August 2022
ASX- Release- Brunswick Lithium Field Program – 11 Pegmatite Targets Now Identified -11 October 2022
ASX Release- Brunswick Project-Lithium Geochem Results, DBGM & Large ~2km x 300m Pegmatite Mapped – 14 November 2022
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 and Kirup, 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 project is in the economic study phase and moving to PE funding or trade JV.
The exploration team are busily working towards the next mineral discovery, potentially lithium, caesium or tantalum near the world class Greenbushes Lithium Mine.
Contact the Company Secretary for more information – +61(08) 6144 0592 or cosec@kulagold.com.au
