Kula Gold Limited reports further high grade gold assay results from RC drilling at the Company’s Mt Palmer Gold Project located in the Southern Cross Goldfields – featuring 15m @ 9.4g/t gold (from 87m) including 6m @ 20.3g/t gold (from 90m).
Kula’s Managing Director Ric Dawson comments:
“Mt Palmer continues to surprise on the upside with this being our best result to date with this outstanding gold gram-metre of 141gm from only 87m downhole depth. The results that we are getting are demonstrating that there is a lot more to Mt Palmer and we are only scratching the surface, with over 3km of prospective strike outlined with shallow drilling, albeit at wide spacing so far.”
HIGHLIGHTS
- 15m @ 9.4g/t gold (from 87m) including 6m @ 20.3g/t gold (from 90m) and 3m @ 5.8g/t gold (from 99m) -Hole 25MPRC0059
- 3m @ 5.5g/t gold (from 42m) -Hole 25MPRC0061
- Scale potential increasing
- Diamond core drill holes and RC drilling assays pending
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 rig programme are in the table below:
Figure 2: Cross Section for 25MPRC0059
Figure 3: Cross Section for 25MPRC0061
Scale Potential at Mt Palmer Continues to Increase
The Mt Palmer Gold Project is extending its potential with recent drill results confirming the continuation of prospectivity north right up to El Dorado and south to Bryant Lode, and still open north and south.
This is now in the order of 3km.
Mineralised zones in the main workings area are similar in style to those intersected in drilling in the El Dorado trend shown in red below, and warrant substantial drill programmes given the results to date (as shown in the diagram).
There are also historic workings on the peninsula and Quartz Island parallel to the east of the Eldorado trend, as yet to be followed up by the Kula team.
Figure 4: El Dorado Trend
Drilling Programmes
A second batch of assays from this programme of 8 larger diameter RC drill holes is pending. 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 sent for assay. The results will be reported in due course.
Figure 5: Kula’s Marvel Loch Region Prospects
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
ASX Release 3km El Dorado Gold Trend Advancing At Mt Palmer With Excellent Drilling Results 24 October 2025
News Release
Date: 3 November 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
