Kula Gold Limited reports reconnaissance drilling has commenced at the DBGM Prospect (Figure 5) at its 100% owned Brunswick Project (Figure 1) located 35km from the Greenbushes Lithium Mine in Western Australia.
HIGHLIGHTS
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Reconnaissance RC drilling is testing structural gold targets and lithium targets from surface pegmatites.
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Airborne drone magnetics has defined a structure below a lithium geochemistry anomaly and has generated drill targets coincident with lithium soil anomalies.
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Brunswick Project 35kms from Greenbushes lithium mine, one of the largest hard rock lithium mines in the world.
Figure 2: Drilling in an open paddock at the DBGM Prospect at Brunswick
Kula’s Chief Executive Officer Ric Dawson said:
“We are excited to have commenced our reconnaissance drilling program at the DBGM Prospect.
Our team has developed a model to target and now it is time to test it over the coming weeks.
The combination of some very encouraging, outcrop, geochemistry and geophysics ranks this high on our priority list and we expect the drilling to be completed at the end of May.
We look forward to sharing the outcomes of this work with our Shareholders once the preliminary pLIBS and assay results are returned.”
Figure 1: Kula’s Brunswick Project, DBSZ and location of Greenbushes Mine and infrastructure.
DBGM Prospect
Recent mapping has identified pegmatites at surface as per RK002592 and RK002593 (Figure 3 and 4), these have been sent off for laboratory analysis but preliminary pLlBS were able to determine anomalous reading for LCT mineralisation.
Owing to the very selective and not representative nature of pLIBS reading for whole rock analysis individual values are not being reported.
Figure 3: Pegmatite outcrop rock chip RK002592 in natural light on the left and under UV light on the right, noting the pink fluorescence
Figure 4: Pegmatite outcrop rock chip RK002593 in natural light on the left and under UV light on the right, noting the pink fluorescence
Drone Flown Magnetics
The Company engaged Atlas Geophysics to fly a 25m line spacing 25m height drone magnetic survey.
Figure 5: DBGM Prospect with new drone magnetics over regional magnetics TMI_RTP with anomalous lithium geochemistry analysis and interpreted pegmatite adjacent to the historic Donnybrook Gold Mine.
Upcoming Activities
Following on from producing an exploration target model, with these various overlapping exploration techniques, the Company has now commenced with drilling contractor Stark Drilling to proceed with a reconnaissance drill program to test the above anomalous areas.
The Company will provide an ASX release upon ongoing operations of significance.
News Release
Date: 18 May 2023 | ASX Code: KGD
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 his information in the form and context in which it appears
ASX Release – 4 June 2022 Donnybrook Gold Rock Samples up to 7.95g/t Gold at the Donnybrook Gold Mine Prospect – Brunswick Project Advancing
ASX Release -7 September 2022 Lithium Pegmatites Identified at Brunswick
ASX Release – 11 October 2022 Brunswick Lithium Field Program – 11 Pegmatite Targets Now Identified –
ASX Release – 14 November 2022 Brunswick Project-Lithium Geochem Results, DBGM & Large ~2km x 300m Pegmatite Mapped –
ASX Release – 20 February 2023 Brunswick Project -Lithium Drill Target 1.7km Strike
ASX Release -21 March 2023 Brunswick Projects – Tantalum and Gold Targets
ASX Release – 2 May 2023 Historical BHP Diamond Core – Reveals Lithium Potential and 1m @ 51g/t Gold
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 annouced 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.
Contact the Company Secretary for more information – +61(08) 6144 0592 or cosec@kulagold.com.au
