Kula Gold Limited advises assay results from the track mounted RC drilling rig at the Company’s Mt Palmer Gold Project located in the Southern Cross Goldfields.
HIGHLIGHTS
- Track mounted RC drilling gold assays at the Mt Palmer Gold Project provide encouraging results, including hole 25MPRC0054 containing 8m @ 2.76g/t gold (from 24m) including 1m @ 16.95 g/t gold (from 30m)
- Over 3km of potential strike along a highly magnetic banded iron formation/jasperlite unit containing a mineralised trend from El Dorado to Bryant is to be now followed up
- Diamond core drilling and current RC drilling assays pending
Kula’s Managing Diretor Ric Dawson commented:
“Management is pleased with the expanding nature at the Mt Palmer Gold Project, with these results indicating a potential strike length of over 3km from El Dorado to Bryant to be tested in due course.
Additional results will be forthcoming as the Company receives assays from the diamond drill core, and progresses the recently commenced large diameter RC drilling, with deeper drilling planned as part of the resource drill-out stage next year.”
Figure 1: Kula’s Mt Palmer Gold Project.
Drill Results
Significant RC drill results (greater than 0.4g/t gold) from the track mounted RC drill programme are in the table below:
Figure 2: El Dorado and J2 Prospects – Plan View
The new assay results at J2 and El Dorado suggest mineralisation is associated with a jaspilitic banded iron formation and quartz reefs hosted within. Surface mapping of the jaspilitic banded iron formation is consistent with the highly magnetic trend detailed in previous magnetic surveys, and multiple historic shafts and workings are observed along an approximate three-kilometre trend spanning from El Dorado through to Bryant Prospects.
Figure 3: J2 Prospect Cross Sections
Figure 4: El Dorado Prospect Cross Sections
Drilling Programmes
A new programme of larger diameter RC drilling of approximately 1400m has commenced over 17 holes, to a maximum drill depth of 154m. Some samples are in transit for assay whilst the remaining samples will be sent once the programme is complete and results will be reported in due course.
Diamond Core Drilling Structural Analysis and Assay
The diamond core drilling has been logged by Model Earth structural consultants and has now been sent for assay this week. The results will be reported in due course.
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. All drill results reported are drill widths unless otherwise noted.
References:
| ASX Release (AUN) | Mt Palmer Exploration Update | 20 October 2021 |
| ASX Release | Kula to Acquire Historic Mt Palmer Gold Mine & Placement | 31 May 2024 |
| ASX Release | RC Drilling Commences at Historic Mt Palmer | 17 July 2024 |
| ASX Release | New Lode to 6.66g/t Gold in Shallow RC drilling- Mt Palmer | 29 August 2024 |
| ASX Release | Diamond core drilling commences at Mt Palmer Gold Mine | 11 September 2024 |
| ASX Release | Mt Palmer Gold Mine – El Dorado Prospect historical 6m @ 8.3g/t gold to follow up | 26 September 2024 |
| ASX Release | Mt Palmer Gold Mine- East Prospect | 10 October 2024 |
| ASX Release | Gold Exploration Update | 27 November 2024 |
| ASX Release | Gold Drilling Underway | 18 March 2025 |
| ASX Release | Mt Palmer Update | 2 April 2025 |
| ASX Release | High Grade Shallow Gold Drill Intercepts Continue – Mt Palmer Gold Project | 10 June 2025 |
| ASX Release | Up to an ounce per tonne Gold Drilling Results – Mt Palmer Project | 23 June 2025 |
| ASX Release | Up to an ounce per tonne Gold Drilling Results – Mt Palmer Project | 22 July 2025 |
| ASX Release | Gold Drilling Underway | 9 September 2025 |
| ASX Release | Drilling Update at Mt Palmer Gold Project | 17 September 2025 |
| ASX Release | Visible Gold Intersected in Diamond Drill Core at Mt Palmer Gold Project | 19 September 2025 |
News Release
Date: 24 October 2025 | 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 WA goldfields at the Mt Palmer Gold Project at Marvel Loch Southern Cross, 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 at Southern Cross. The Company added the Wozi Niobium Project in Malawai in mid-2025.
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
