Kula Gold Limited is pleased to report a significant advancement of the Taliah Prospect from recent geochemistry, mapping, geophysics review taking this to a high order Lithium drill target at its 100% owned Southern Cross Project, approximately 90km North of the world class Mt Holland Lithium Mine (SQM and WES). The Company also announced the new Sasha and Nadia Prospects – also located within Southern Cross Project.
- Rock and soil sampling at the Taliah Prospect has advanced with numerous new anomalous lithium, tantalum and pathfinder results.
- Up to 214ppm Lithium (Li) and 144ppm Tantalum (Ta), plus important pathfinder elements, Tin (Sn), and Beryllium (Be).
- Structure was substantially expanded by 1km² up to 3.5km² following the key structures identified.
- Significant anomalous Lithium and prospective fractionation K/Rb ratios.
- New Sasha Prospect to the North of Taliah Prospect has a prospect size of 1.8km².
- Tenement applied for directly North of these prospects following prospective structures.
Kula’s Chief Executive Officer Ric Dawson comments:
“The new Taliah Lithium Prospect in the Southern Cross Project with anomalous lithium and tantalum elements is advancing to a drill ready prospect.
The new Nadia and Sasha Prospects advancing quickly from a first pass programme are also very encouraging.
These results are important as they provide a geological vector towards a possible orebody below and act as a precursor to the more definitive drilling in the future. The rocks here are ~2.6B years old so the evidence at surface provides the clues to a possible orebody in the vicinity.
Considering that this tenement has had zero previous exploration recorded in this mineral rich State of Western Australia, generally the first explorer tends to discover the larger finds.”
Figure 1: Kula’s Southern Cross Project and location of Mt Holland Lithium Mine.
Figure 2: Kula’s Southern Cross Project and location of nearby infrastructure
Southern Cross Project – 100% owned
Figure 3: Location of Prospects, rock chips and mapped geology at the new Taliah Lithium Prospect.
Taliah Prospect
New reconnaissance mapping and rock chip sampling has detected anomalous readings of up to 214ppm lithium, 144ppm tantalum and 300ppm beryllium (See Table 1 on ASX PDF) which is significantly above background values of 7ppm Li, 0.6ppm Ta and 0.2ppm Be, as seen in Figures 4 and 5 and Appendix A.
A small concurrent UFF soil programme designed to test a potassium radiometric anomaly near the existing rock chip programme was completed with very encouraging results for a more extensive and expanded soils program commencing this quarter.
The rock chip samples were collected at surface from suitable subcrop and outcrop locations (Figures 4 and 5) and have confirmed the anomalism outlined in the first two surface sampling programmes, further extending and refining areas of lithium anomalism.
Multiple samples returned significant results of over 50ppm Li, 20ppm Ta, 8ppm Sn, 5ppm Be and/or 80ppm Nb (see Appendix A) which is rapidly advancing the Taliah Prospect to a drill ready status.
Figure 4: Significant lithium rock chip and soil results at the new Taliah Lithium Prospect.
In addition, analysis of the industry standard using the fractionation ratio of potassium/rubidium (K/Rb) for the Taliah Prospect is providing confidence that a moderate degree of fractionation is occurring which highlights the potential for lithium enrichment with these pegmatites (Figure 5) given increased fractionation is a key indicator for the fertility of lithium-caesium-tantalum (LCT) pegmatites.
Figure 5: Significant K/Rb fractionation ratio from rock chip and soil results at the new Taliah Lithium Prospect.
The Potassium / Rubidium (K/Rb) ratio in Table 1 reflects the degree of substitution of Rb for K in the crystal structure of mica.
A ratio of below 150 indicates a fractionated pegmatite and below 15 a highly fractionated pegmatite.
A significant number of the samples are indicative of moderately fractionated and showed LCT-fertility pegmatites.
These samples continue to improve on the surface rock chip samples reported from Kula in comparison with the previous surface samples 1.
Figure 6: Idealized concentric, regional zoning pattern in a pegmatite field, adapted from Muller et al., 2017. Characteristic rareelement suites of the most enriched pegmatites in each zone are indicated. The most enriched pegmatites tend to occur distally
with respect to the parental granite.
Sasha Prospect
Newly identified Sasha Prospect to the North of Taliah Prospect (Figure 2) covers 1.8km2, defined from rock chip sampling to date.
A preliminary reconnaissance mapping and rock chipping programme and has detected anomalous readings of up to 58ppm lithium, 28ppm tantalum and 18ppm beryllium, which is significantly above background of approximately 7ppm Li, 0.6ppm Ta and 0.2ppm Be (Table 1).
An extensive follow-up UFF soil programme is about to commence this quarter and results will be released in the following quarter.
Results for lithium, tantalum and associated pathfinder elements (tin, tungsten and niobium) for rock chip samples at the Sasha Prospect are provided in Figure 7.
Figure 7: Elements of significance for the new Sasha Lithium Prospect with results >95th percentile labelled.
Nadia Prospect
Newly identified Nadia Prospect located to the Northwest of the Taliah Prospect (Figure 2) has dimensions of 600m x 100m from outcrop, however true extents of anomalism are yet to be defined.
Reconnaissance mapping and rock chipping sampling to date has detected anomalous readings of up to 36ppm lithium, 119ppm tantalum and 41ppm beryllium (Table 1) which is significantly above background of approximately 7ppm Li, 0.6ppm Ta and 0.2ppm Be.
An extensive follow-up UFF soil programme is about to commence this quarter and results will be released in the following quarter.
Highlighting all the lithium, tantalum and associated pathfinder elements for rock chips samples at the Nadia Prospect are provided in Figure 8.
Figure 8: Elements of significance for new Nadia Lithium Prospect with results >95th percentile labellled.
Forward Plan
Planning process is underway for a drill programme as soon as possible, subject to regulatory approvals.
To see a full breakdown of Table 1 – View the Full ASX Announcement PDF
APPENDIX A: SIGNIFICANT ELEMENTAL MAP OF THE TALIAH PROSPECT
Competent Person Statement
The information in this announcement that relates to geology, exploration and visual estimates is based on, and fairly represents, information and supporting documentation 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 and is a related party of the Company. 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). This market announcement is issued with the prior written consent of Mr. Dawson as to the form and context in which the exploration results, visual estimates and the supporting documentation are presented in the market announcement.
References:
SOUTHERN CROSS PROJECT
ASX Release – Marvel Loch-Airfield Project- Lithium and Tantalum Target- 27 March 2023 1
ASX Release – Southern Cross, Western Australia- Lithium and Tantalum Results- 26 April 2023
BOOMERANG PROSPECT
ASX Release – Boomerang Kaolin Deposit – Maiden JORC Resources – 20 July 2022
Kula confirms that it is not aware of any new information or data that materially affects the information included in the original market announcements, and that all material assumptions and technical parameters underpinning the estimates in the relevant market announcements continue to apply and have not materially changed. The Company confirms that the form and context in which the Competent Persons findings are presented have not been materially modified from the original market announcements.
Date: 15 June 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 Lithium/Tantalum near the world class Greenbushes Lithium Mine.
Contact the Company Secretary for more information – +61(08) 6144 0592 or cosec@kulagold.com.au
