Kula Gold Limited is 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 (now known as the Taliah Prospect), approximately 90km north of the world class Mt Holland Lithium Mine in Western Australia.
HIGHLIGHTS [View PDF]
- 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.
Kula’s Chief Executive Officer Ric Dawson said,
“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.”
Note: This news item is an excerpt from the ASX Announcement on 2 May 2023 – Historical BHP Diamond Core reveals Lithium potential + 1m @ 51g/t Gold at Brunswick + Kirup Project and Taliah Prospect Updates
Southern Cross Project
Figure 1: 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:
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
