⛏️ Kula Gold Limited notes the close proximity of Lithium target drilling by Aurumin Limited at the Vickers Find South Prospect in July, to Kula’s G-Star Prospect at Marvel Loch – within the Southern Cross region.

Aurumin’s Diamond Drilling program at Mt Palmer Project was co-funded by the Western Australian Government’s Department of Mines, Industry Regulation and Safety (DMIRS) under the Exploration Incentive Scheme (EIS) – with the Vickers Find South Prospect within Mt Palmer located adjacent south east of Kula’s G-Star Prospect.

Figure 1. Proximity of Kula’s G-Star Prospect to Aurumin’s Vickers Find South Lithium Target Drilling – near Southern Cross in WA.

From Aurumin ASX Announcement July 28 2023:

  • Four diamond holes targeting lithium bearing pegmatites completed at Mt Palmer, with a total of 994m drilled. Drilling was completed after 30 June.
  • Aurumin holes focussed on geochemical multielement anomalism (lithium results up to 146ppm and tantalum results up to 391ppm) in areas where historical drilling for gold encountered and logged pegmatites up to 40m thick.
  • Drilling is part of an EIS grant funding agreement whereby50% of costs are reimbursed by DMIRS up to $150,000. (The EIS is a Western Australian State Government initiative, operated through the DMIRS that aims to encourage exploration in Western Australia for the long-term sustainability of the State’s resources sector.)

⛏️ Results are expected shortly, with Kula holding a POW to drill at its G-Star Prospect – identified in November 2021 – at any time.

News Release

Date: 21 September 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 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 at Southern Cross.
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 discovered 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 at Brunswick and Kirup, 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