Kula Gold Limited reports excellent progress on potential lithium bearing pegmatites at its Brunswick Project and the recently acquired Kirup Project, approximately 20km west of the world’s largest hard rock lithium mine, Greenbushes Lithium Mine in Western Australia.
Historical BHP diamond drill core was found at the GSWA Core Library in good condition, and a pegmatite was identified at 73m depth in hole DDB-1, in addition to a high-grade gold result of 1m @ 51g/t gold from 39m previously intersected – it was never followed up.
The Company is also pleased to report on a follow up field mapping and rock chip sampling programme on lithium and tantalum bearing pegmatites at its 100% owned Southern Cross Project (Taliah Prospect), approximately 90km north of the world class Mt Holland Lithium Mine in Western Australia.
Kula’s Chief Executive Officer Ric Dawson said,
“Today’s results for the Brunswick Project are an excellent advancement to our first drill programme on these projects.
“This new Taliah Prospect in the Southern Cross Project with anomalous LCT suite mineralisation is a nice surprise from some regional work to add to our advancing lithium portfolio of projects. The tantalum results are important as they are part of the same LCT suite but less mobile at surface than the lithium so an important geological vector towards a possible orebody. The rocks here are ~2.6B years old so the evidence at surface of an orebody below requires some careful science to detect.”
ANNOUNCEMENT HIGHLIGHTS [View PDF]
- Brunswick Project now has drill ready targets. Historical BHP diamond drill core found, and pegmatite identified at 73m depth along with 1m @ 51g/t gold from 39m previously intersected – never followed up. Currently planning scout drilling programme.
- Kirup Project revealed anomalous lithium (Li) rock chip results up to 240.8ppm and 71.9ppm, 20km from Greenbushes. Early potential LCT suite mineralisation; mapping and rock chipping continues.
- Taliah Prospect near Southern Cross, WA – sampling has validated prior results and advanced the prospect with numerous new anomalous lithium and tantalum results. Up to 165ppm lithium (Li) and 81ppm tantalum (Ta), along a magnetic structure of up to 4km. Geochemistry programme in progress.
Figure 1: Kula’s Kirup & Brunswick Projects, the DBSZ and proximity to Greenbushes Mine and Infrastructure.
Brunswick Project – 100% owned
DBGM Prospect
Following on from identifying the excellent diamond core records on our project at the GSWA core library, Kula geologists were able to target specific zones of interest with a focus on the observing pegmatitic and associated rock types of interest. Two holes of particular interest have been requested for full suite analysis DDB-1 and DDB-20 that contained relevant rock types deemed suitable for more geochemical analysis.
Figure 2: Drillhole DDB-1 diamond core tray, zone of pegmatite interest from 73-74m for full suite analysis.
This drillhole DDB-1 contained an interval from 73-74m of orange/pink fluorescence minerals under UV light and lies along strike from the interpreted LCT mineralisation in Figure 4 below of drone magnetics flown in the last quarter.
DDB-20 has additional rock types of interest and further assays requested.
Figure 3: DDB-20 diamond drill core with zones of interest for full suite analysis, previous intersection of 1m at 51g/t gold from 39m. (left image is a zoomed in version of right).
Figure 4: DBGM Prospect over magnetics TMI_RTP with anomalous lithium geochemistry with DDB1 and DDB-20 and interpreted LCT pegmatite adjacent to the historic Donnybrook Gold Mine.
A prospect scale drone magnetics survey has been completed and has allowed for interpretation of zones of dilation or movement that would allow pegmatites to come to the near surface.
This is now a drill ready target and permitting is in progress.
Kirup Project – E70/5452 – (70% LCT mineralisation rights, 30% Sentinel Exploration Ltd)
Following the recent acquisition, a reconnaissance mapping and rock chip sampling has detected anomalous lithium readings of 240.9ppm and 71.5ppm which is significantly above regional background of approximately 15ppm (Table 1).
This is the highest anomalous analysis for Kula’s exploration team. A follow-up rock chip sampling and mapping will occur over the coming quarters adds significance to this virgin ground on this project.
Figure 5: Recent reconnaissance by Kula geologist in the Kirup Project with anomalous lithium rock chip locations.
Exploration work of mapping and rock chipping continues in the field and further results will be reported in due course.
Southern Cross Project
Figure 6: Kula’s Southern Cross Project and location of Mt Holland Mine and infrastructure.
Taliah Prospect – 100% owned
New reconnaissance mapping and rock chipping has detected anomalous readings of up to 165ppm lithium and reading of 81ppm tantalum which is significantly above background of approximately 10ppm and 1ppm respectively (see Table 2 below images), as seen in Figure 7 and 8.
A follow-up UFF soils programme is scheduled for this quarter.
The second surface sampling programme has been completed at the Taliah Prospect for a total of 50 samples collected in March 2023, over areas of outcrop from the initial rock chipping programme in September 2022. The samples were collected on a random grid (Figure 7 and 8), from surface.
The sampling has confirmed the anomalism outlined in the initial surface sampling programme and has further refined areas of lithium anomalism. Peak values of 165ppm Li, 81ppm Ta and 93ppm Cs were returned from various samples, with 20% of samples (10 out of 50) returning assays of over 50ppm Li.
Figure 7: Taliah Prospect with anomalous lithium rock chips and locations.
Figure 8: Taliah Prospect with anomalous tantalum rock chips and locations.
Figure 9: Coarse grained pegmatitic rocks from location RK0000238 (165ppm Li and 38 ppm Ta).
Figure 10: Contact with coarse grained pegmatitic vein from location RK0000250 (128 ppm Li).
Figure 11: Coarse grained pegmatitic rocks from location RK0000233 (94ppm Li and 22ppm Ta).
Figure 12: Pegmatitic lens from location RK0000244 (12ppm Li and 81ppm Ta).
Figure 13: Weathered pegmatitic vein from location RK0000254 (54ppm Li and 48ppm Ta).
Exploration work of mapping and rock chipping continues in the field and further results will be reported in due course.
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:
BRUNSWICK PROJECT
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- 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
ASX Release – Brunswick Project -Lithium Drill Target 1.7km Strike -20 February 2023
ASX Release – Brunswick Projects – Tantalum and Gold Targets 21 March 2023
KIRUP PROJECT
ASX release- Kula To Acquire A 70% Interest in Key Lithium Tenement – Kirup Project- 22 November 2022
SOUTHERN CROSS PROJECT
ASX Release- Farm-in and Joint Venture Agreement- 9 August 2022
ASX Release – Marvel Loch-Airfield Project- Lithium and Tantalum Target- 27 March 2023
News Release
Date: 2 May 2023 | 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 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 Lithiumy, Caesium ot Tantalum near the world class Greenbushes Lithium Mine.
Contact the Company Secretary for more information – +61(08) 6144 0592 or cosec@kulagold.com.au
