Kula Gold Limited reports that drillhole logging at the Cobra Lithium Prospect, has been successful in intersecting pegmatites over multiple intervals to 210m down hole depth.
The Kirup Lithium Project (Figure 1) is located 20km West of the Greenbushes Lithium Mine, with the Company’s current drilling campaign at Cobra located within Kirup.
Kula’s Managing Director Ric Dawson said
“The maiden Cobra RC drill program intersecting the appropriate rock types that traditionally host LCT mineralisation is a positive start.
The combination of encouraging outcrop, geochemistry and geophysics is now evident in the subsurface drilling.”
It is worth noting that these are the first holes ever drilled in the Cobra Lithium Prospect and in the area for lithium.
This prospect (as per ASX release 15th November 2023) is up to 4.2km in strike and is one of a number of advanced lithium prospects Kula is exploring.
HIGHLIGHTS
- The Cobra Lithium Prospect within the Kirup Lithium Project is 20km from Greenbushes lithium mine in WA, one of the largest lithium mines globally.
- 11 holes logged with visual pegmatites¹ in multiple intervals varying from 3m to interpreted 55m thick
- Recent rock chipping and mapping has increased the strike of the Cobra Lithium Prospect to 4.2km
- Drill programme now completed to 1,860m, assays in progress
¹Cautionary Note: The identification of pegmatites in the drilling completed to date does not imply the presence of lithium mineralisation. The presence of any lithium mineralisation will be determined by laboratory analyses.
Figure 1: Kula’s Brunswick Project, DBSZ and location of Greenbushes Mine and infrastructure.
Figure 2: RC Drilling on location at the Cobra Lithium Prospect.
Figure 3: RC Drilling on location at the Cobra Lithium Prospect.
Figure 4: RC Drilling on location at the Cobra Lithium Prospect.
Kirup Lithium Project – E70/5452 – (70%, 30% Sentinel Exploration Ltd)
Cobra Lithium Prospect
Cobra Lithium Prospect sits in the central part of E70-5452, on a regional NE magnetic lineament in a mapped mafic sequence.
Pegmatites with high lithium content (up to 240ppm) rock chips containing muscovites, tourmalines and garnets (fractionated minerals) have been mapped at surface and have increased to ~4.2km in strike length.
Mapping continues to increase the potential dimensions of this prospect.
The mineralogy of surface pegmatites is composed of predominantly quartz, feldspar, tourmaline, muscovite, garnet, others (to be determined). Generally, poorly foliated and with a grainsize –locally very coarse, up to 10cm crystals of feldspars, and muscovite crystals up to ~5cm.
Figure 5: Location of Cobra Prospect over regional TMI_RTP magnetics
Figure 6: Simplified cross -section of RC drilling at 6255300N.
Results will be reported in due course and some analysis is being expedited.
Table 1: Cobra Lithium Prospect RC Drill Intervals of Significance. Coordinates provided in GDA94 Zone 50, Sampling Methods described in Appendix A: JORC Code, 2012 Edition – Table 1.
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 prepared 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.
ASX Release – Lithium Targets Increased To 1km & 2km Strike – Kirup Project – 8 June 2023
ASX Release – Kirup Lithium Targets – Drilling -16 August 2023
ASX Release – Kirup Lithium Targets – Drilling – 15 November 2023
ASX release – Kirup Lithium Targets – RC Drilling Commences -22 November 2023
News Release
Date: 12 December 202x | 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 Kirup and Brunswick – near the world class Greenbushes Lithium Mine, as well Lithium at the Taliah-Nadia-Sasha Prospects in the WA goldfields at Southern Cross, and Gold and PGE at Westonia (adjacent to the producing Edna May Gold Mine – owned by ASX:RMS).
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 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).
Contact the Company Secretary for more information – +61(08) 6144 0592 or cosec@kulagold.com.au
