KulaGoldMedia_HalloysiteSEMImageClean_BoomerangKaolinProject_August2021

SEM imaging at CSIRO confirms qualitative nature of Halloysite at Boomerang Kaolin Project

⛏️ Kula Gold Limited announces SEM imaging at the CSIRO has confirmed the qualitative nature of Halloysite discovered at the company’s Boomerang Kaolin Project near Southern Cross in Western Australia.

Highlights:

• The SEM imaging by CSIRO (Adelaide) confirms the Halloysite in hole 21BMRC001 to be present as tubes.

Figure 1. Kula's Boomerang Kaolin Prospect Location

Figure 1. Kula’s Boomerang Kaolin Prospect Location

The reported RC drilling at the Airfield Gold Project near Marvel Loch intersected thick >40m vertical kaolin clay development over a 300m strike at the Boomerang Prospect.

The 10m @ 7% Halloysite (downhole) as reported to ASX on 13 July 2021 has been confirmed by SEM imaging analysis by CSIRO (Adelaide).

The report noted “good particle separation and spread” for the Kaolinite/Halloysite in Figure 2 below.

Figure 2

Figure 2. SEM Image from Boomerang Kaolin Project

Further RC and diamond drilling is planned in this quarter to test the volume of Kaolin at the Boomerang Project and provide material for initial metallurgical testwork which will be managed by Sedgman.

Sedgman have been appointed as metallurgical consultants to oversee the metallurgical testwork program for the Boomerang Kaolin Project.

Figure 3. Cross Section of the Boomerang prospect RC drilling showing thick zones of Kaolin clays.

Figure 3. Cross Section of the Boomerang Prospect RC drilling showing thick zones of Kaolin clays.

Logistics in the area are very good as shown in the map below, with all critical infrastructure in close proximity, including water, rail, sealed roads and towns.

Figure 4. Location map of the Airfield Project shown and Boomerang Prospect showing proximity to Marvel Loch and Southern Cross towns, railway, road and water infrastructure

Figure 4. Location map of the Airfield Project shown and Boomerang Prospect showing proximity to Marvel Loch and Southern Cross towns, railway, road and water infrastructure

KulaGoldMedia_DrillCollars1_BoomerangKaolinProject_August2021

Download the full PDF here

– News Release –
Date: 17 August 2021 | ASX Code: KGD


About the Company
Kula Gold Ltd (ASX: KGD) is a Western Australia gold exploration company focussed on large land positions and structural geological settings capable of hosting ~1m oz deposits.
The company has projects within the Southern Cross WA region including Marvel Loch, Rankin Dome and Westonia, as well as near Kurnalpi and Brunswick. The company has a history of large gold resource discoveries with its foundation Woodlark Island project in PNG.
Contact the Company Secretary on Tel: +61(08) 6144 0592 or via cosec@kulagold.com.au

KulaGoldMedia_AERPaperCanaccord_Kaolin_PDF

Kaolin and HPA: Something old and something new | Canaccord Genuity Research

⛏️ Kula Gold Limited passes on an Australian Equity Research paper on Kaolin and High Purity Alumina from Cannacord Genuity published in August 2021.

KulaGoldMedia_AERPaperCanaccord_Kaolin_PDF

Read the full paper as a PDF.

Kula Gold made a significant discovery of Kaolin and Halloysite during RC Drilling on the Airfield Gold Project tenement in April 2021, when drilling intersected thick >42m vertical kaolin clay development over the 300m drilled length, creating the Boomerang Kaolin Prospect.

And on August 17, 2021 the company announced SEM imaging at the CSIRO had confirmed the qualitative nature of Halloysite discovered at the project.

Excerpt from the Research below.

Kaolin and HPA: Something old and something new.

Kaolin — a versatile material in use for a thousand years.

Kaolin is a versatile, plentiful material which has a wide range of uses, including paper, ceramics and coatings and the market is large and mature: 29.4m tonnes in 2019, growing at around 3.5% p.a., which means a net incremental 1mtpa of supply is needed to keep up with demand.

The kaolin market is widely dispersed: leading producer, Imerys (NK-PAR: €39.58 | Not Rated), accounts for around 16% with the next three combining for 10%.

Australia is endowed with high quality kaolin and there are a number of ways to play the thematic: Andromeda Metals (ADN-ASX | Not Rated) is the largest by market cap and offers exposure to the rare halloysite grade of the material; Suvo Strategic Minerals (SUV-ASX | Not Rated) has a profitable operation at an ex-Imerys site at Pittong in Victoria and is developing a project in Western Australia, and WA Kaolin (WAK-ASX | Not Rated) has the largest deposit and is readying for production start-up in Q1 CY2. Latin Resources (LRS-ASX | Not Rated) has also published promising study results.

Enhancing lithium-ion battery performance.

The performance of lithium-ion batteries (LiBs) is substantially improved by the application of high purity alumina (HPA) to the separator, slowing battery degradation and materially improving discharge periods. HPA is a very specific grade of alumina with a minimum purity of 99.99% (4N). Standard alumina from the Bayer process does not lend itself to LiB or other high-end electronics applications (e.g. LEDs) due to the presence of sodium as a contaminant.

Therefore, another route to HPA production is required and kaolin offers potential as a starting material.

High Purity Alumina — a new and emerging market.

Alumina, like kaolin, is an established industrial mineral but emerging applications in electronics and LiBs require ultra-pure grades, which therefore calls for a re-evaluation of the HPA production process.

In a market, amounting to tens of thousands of tpa, raw aluminium metal has been the expensive starting material for HPA production but Kaolin offers a potential solution as a long-term, cost-effective feedstock.

Two ASXlisted companies, Altech Chemicals (ATC-ASX | Not Rated) and FYI Resources (FYIASX | Not Rated), offer exposure to this relatively new process. A third, Alpha HPA (A4N-ASX | Not Rated) solves the problem using a fundamentally different process but producing promising results with comparable, and possibly lower, unit costs.

Industry forecasts project the HPA market to grow at 17% p.a. over the next seven years (Figure 5), suggesting that supply will need to grow to match that demand.

Different markets, different risks, different returns

Kaolin links the two markets together, but we believe they should be analysed separately. Whilst ATC and FYI have their own deposits, they do not plan to be full-time kaolin producers: ‘campaign’ mining will supply several years’ worth of HPA feedstock.

Kaolin production and processing tends to be relatively straightforward and there is a ready and growing market for the material. SUV, WAK and ADN either have, or are in the process of negotiating, offtake agreements for their products, often with distributors or users in the Asia-Pacific region. Capex is relatively low (tens of millions of dollars) and payback periods are fast, mostly measured in months.

The HPA market enjoys very dynamic growth potential over the next five years at least. There appears little dispute about the benefits of HPA in LiBs and LEDs, so the challenge remains for the industry to meet the demand. The projects tend to require significant capex running to hundreds of millions of dollars, whilst HPA pricing is projected to be an order of magnitude higher than for kaolin.

We would recommend reading the entire paper here.

Disclaimer: Canaccord Genuity is the global capital markets group of Canaccord Genuity Group Inc. (CF : TSX). The recommendations and opinions expressed in this research report accurately reflect the research analyst’s personal, independent and objective views about any and all the companies and securities that are the subject of this report discussed herein.

Figure 2. White Kaolin Clays at the Airfield Project from 5 to 60m BMRC001

Figure 2. White Kaolin Clays at the Airfield Project from April 2021

Kula Gold made a significant discovery of Kaolin and Halloysite during RC Drilling on the Airfield Gold Project tenement in April 2021, when drilling intersected thick >42m vertical kaolin clay development over the 300m drilled length, creating the Boomerang Kaolin Prospect.

The company believes the Exploration Target for planned follow up RC Drilling in August 2021 is between 30 and 100Mt of kaolin material based on the current thickness and the nature of the process that forms the wide zones of kaolin in weathered granite. It lies in a favourable location, being ~25km from the Kalgoorlie water pipeline and Highway 94 Perth to Kalgoorlie, and 42km to the Southern Cross rail yard. Whilst Kula’s results are preliminary, the Company believes that the initial assays are significant in grade and extent and require further drilling. (ASX announcement 13 July 2021).

Read more about Kula Gold’s Boomerang Kaolin Prospect.

Figure 2. The Southern Cross project includes 3 new ELA’s near Marvel Loch at Southern Cross.

The Boomerang Kaolin Prospect at Southern Cross.

– News Release –
Date: 11 August 2021 | ASX Code: KGD


About the Company
Kula Gold Ltd (ASX: KGD) is a Western Australia gold exploration company focussed on large land positions and structural geological settings capable of hosting ~1m oz deposits.
The company has projects within the Southern Cross WA region including Marvel Loch, Rankin Dome and Westonia, as well as near Kurnalpi and Brunswick. The company has a history of large gold resource discoveries with its foundation Woodlark Island project in PNG.
Contact the Company Secretary on Tel: +61(08) 6144 0592 or via cosec@kulagold.com.au

The Hunter Venture Headframe Donnybrook Gold Mine WA.

Source: www.donnybrookgold.com.au

Brunswick Project area expanded to include historic Donnybrook Gold Mine

⛏️ Kula Gold Limited has expanded its Brunswick Cu–Ni–PGE, Au Li Project (KGD 100%) and expects to soon announce results from 840 samples that were sent to Bureau Veritas last quarter.

During the quarter Kula expanded the Brunswick Project area after it reached agreement to acquire E70/5560 of 2.9km2 from a private prospecting group for $15,000.

Figure 3. Reprocessed Magnetics showing Kula’s tenements and the Donnybrook Gold Mine (gold star).

Figure 3. Reprocessed Magnetics showing Kula’s tenements and the Donnybrook Gold Mine (gold star).

This granted EL hosts the Donnybrook Gold mine (historic) and includes some of the historical shafts and drives still in existence from the mine which operated in 1897-1903, then 1930’s to 40’s as Hunter Venture mine.

Subsequent to the end of the quarter, all of the Company’s Brunswick tenements were granted, with the granting of the principle tenement E70/5599 covering an approx. 45km north/south length.

The Company is presently compiling historical data for the Donnybrook Gold Mine licence area and plans to complete some surveying of the old shafts and use downhole cameras to survey the crosscut drives. Pending landowner agreement, a small surface channel sampling program will be used to define the gold distribution at surface before planning further work.

The Hunter Venture Headframe Donnybrook Gold Mine WA. Source: www.donnybrookgold.com.au

The Hunter Venture Headframe Donnybrook Gold Mine WA.
Source: www.donnybrookgold.com.au

At the larger Brunswick project, fieldwork by the Company’s geological team has identified potential for three types of mineralisation and these are now the focus of exploration work comprising a large soil sampling program which is well underway with a large quantity of assays pending:

1. Julimar Style Ni-Cu-PGE mineralisation.

2. Epithermal gold mineralisation– as evidenced by the historic Donnybrook Goldmines Ltd south of the licence with production of 1,100oz from 1,497 tons of ore between 1897 and 1904. (Ref: BHP Minerals Ltd DMIRS report of 1 Feb 1987 for exploration work 1985-87)

3. Archean Cu-Au mineralisation analogous to Newmont’s Boddington Copper-Gold Mine 75km NE which is one of the largest gold mines in the world, producing approximately 700k oz Au and 35kt Cu p.a. (Refer ASX release 29 March 2021)

The Company has submitted 840 samples to Bureau Veritas for sieving and Au, Pt, Pd analysis with multielements to be determined using pXRF in house. Laboratory turnaround times have increased substantially in the last three months and assays were still pending for the majority of the samples at quarter’s end.

The company also released an Indicative Exploration Timeline for the Next 3 Quarters in its latest Quarterly Activities Report.

Indicative Kula Exploration Timeline for the Next 3 Quarters.

Indicative Kula Exploration Timeline for the Next 3 Quarters.

– News Release –

Date: 30 July 2021 | ASX Code: KGD


About the Company
Kula Gold Ltd (ASX: KGD) is a Western Australia gold exploration company focussed on large land positions and structural geological settings capable of hosting ~1m oz deposits.
The company has projects within the Southern Cross WA region including Marvel Loch, Rankin Dome and Westonia, as well as near Kurnalpi and Brunswick. The company has a history of large gold resource discoveries with its foundation Woodlark Island project in PNG.
Contact the Company Secretary on Tel: +61(08) 6144 0592 or via cosec@kulagold.com.au

KulaGoldMedia_MHDR_InterviewHeader_July2021

Kula Chairman appears on The Market Herald’s Deal Room – July 2021

⛏️ Kula Gold Limited Chairman Mark Stowell appeared on The Market Herald’s Deal Room to discuss the company’s significant Kaolin-Halloysite find at the Boomerang Prospect at Southern Cross and what the company is doing for the rest of 2021.

The company also released its Quarterly Activities Report for the period ending 30 June 2021 earlier today – read all about it here.

KulaGoldMedia_MHDR_InterviewHeader_July2021

You can watch the full 5 minute interview on The Market Herald Website here but below are two key excerpts from the chat.

Excerpt 1.

What has Kula Gold discovered at the Boomerang Prospect, what are the practical uses for Kaolin and what is the infrastructure like at Southern Cross?

Watch Mark Stowell explain below.
Excerpt 2.
What is Kula Gold expecting to announce and achieve over the rest of 2021 at its various projects?
Watch Mark Stowell give an overview below.

About the Company
Kula Gold Ltd (ASX: KGD) is a Western Australia gold exploration company focussed on large land positions and structural geological settings capable of hosting ~1m oz deposits.
The company has projects within the Southern Cross WA region including Marvel Loch, Rankin Dome and Westonia, as well as near Kurnalpi and Brunswick. The company has a history of large gold resource discoveries with its foundation Woodlark Island project in PNG.
Contact the Company Secretary on Tel: +61(08) 6144 0592 or via cosec@kulagold.com.au

29072021_KulaGoldMedia_QtrActReportendjune2021_July2021

Quarterly Activity Report – Period Ending 30/06/21

⛏️ Kula Gold Limited is pleased to update exploration activities for the quarter ended 30 June 2021.

29072021_KulaGoldMedia_QtrActReportendjune2021_July2021

HIGHLIGHTS

  • Boomerang Kaolin Prospect discovery – average 42m true thickness, including 10m downhole Halloysite in southern drillhole.
  • Previously unmapped Amphibolite (greenstone) intersected at Crayfish Prospect Southern Cross WA.
  • Three large exploration licences applied for where field mapping has confirmed Amphibolite interpreted from the magnetics.
  • Brunswick EL’s all granted by DMIRS.
  • Acquisition of 100% of E70/5560 adding to the large Brunswick PGE-Ni-Cu, Gold project which hosts some of the historical Donnybrook Gold Mine workings.
  • First pass soils completed over numerous geophysical targets at Brunswick PGE-Ni-Cu, Au Project.

1. Southern Cross-Airfield/Boomerang Kaolin Discovery

The Company received the assays for the previous RC drilling at the Crayfish Prospect on the 100% owned Airfield Project in Southern Cross, with only low-level gold intercepted.

Three holes drilled at the Boomerang Prospect (Airfield Project) intersected thick kaolin clays over weathered granite. A total of 28, 5m composite kaolin samples were sent to Bureau Veritas and CSIRO in Adelaide for wet sieving, XRF, Brightness and XRD analysis to determine the Kaolinite-Halloysite content of the -45µm fraction. Results showed approx. 47% reported to the -45µm fraction and has an average ISO Brightness of 81. The fraction also contained an interval with 10m downhole at 7% Halloysite. The fine fraction also averages 96% Kaolinite-Halloysite content.

The Boomerang Kaolin prospect lies in a favourable location, being ~25km from the Kalgoorlie water pipeline and Highway 94 Perth to Kalgoorlie, and 42km to the Southern Cross rail yard. Whilst Kula’s results are preliminary, the Company believes that the initial assays are significant in grade and extent and require further drilling. An RC rig is booked to continue drilling at the Boomerang Prospect in mid-August to test the exploration target of 30-100mt. (ASX announcement 13 July 2021).

Figure 2. White Kaolin Clays at the Airfield Project from 5 to 60m BMRC001

Figure 1. Bright white Kaolin clays at the Boomerang Project at Airfield Gold Marvel Loch.

2. Southern Cross -Airfield Project (Gold) (KGD 100%)

The Airfield gold project discovered amphibolite in the maiden RC drilling program. Amphibolite is a “greenstone” rock which hosts most of the 15million oz of gold mined and discovered in the Southern Cross region as shown in Fig 2 (below) in green.

Figure 2. The Southern Cross project includes 3 new ELA’s near Marvel Loch at Southern Cross.

Figure 2. The Southern Cross project includes 3 new ELA’s near Marvel Loch at Southern Cross.

Discovery of this prospective gold-hosting rock with anomalous gold values has been a major technical breakthrough, as it was historically mapped as granite (ref Fig 2 above in pink) and was never explored other than with some shallow auger work in 1988 by Sons of Gwalia Ltd (SOG).

As a result, the company’s technical team has been able to identify numerous other occurrences of similar geology and Kula acquired 3 new large ELA’s which encompass those prospects. Fieldwork on ground within days of acquisition confirmed that several prospects host amphibolite/greenstone. (Ref ASX release 2 July 2021).

3. Brunswick Cu–Ni–PGE, Au Li Project (KGD 100%)

During the quarter Kula expanded the Brunswick project area after it reached agreement to acquire E70/5560 of 2.9km2 from a private prospecting group for $15,000. This granted EL hosts the Donnybrook Gold mine (historic) and includes some of the historical shafts and drives still in existence from the mine which operated in 1897-1903, then 1930’s to 40’s as Hunter Venture mine. Subsequent to the end of the quarter, all of the Company’s Brunswick tenements were granted, with the granting of the principle tenement E70/5599 covering an approx. 45km north/south length.

Figure 3. Reprocessed Magnetics showing Kula’s tenements and the Donnybrook Gold Mine (gold star).

Figure 3. Reprocessed Magnetics showing Kula’s tenements and the Donnybrook Gold Mine (gold star).

The Company is presently compiling historical data for the Donnybrook Gold Mine licence area and plans to complete some surveying of the old shafts and use downhole cameras to survey the crosscut drives. Pending landowner agreement, a small surface channel sampling program will be used to define the gold distribution at surface before planning further work.

Fig 4. The Hunter Venture Headframe Donnybrook Gold Mine WA. Source: www.donnybrookgold.com.au

Fig 4. The Hunter Venture Headframe Donnybrook Gold Mine WA.
Source: www.donnybrookgold.com.au

At the larger Brunswick project, fieldwork by the Company’s geological team has identified potential for three types of mineralisation and these are now the focus of exploration work comprising a large soil sampling program which is well underway with a large quantity of assays pending:

1. Julimar Style Ni-Cu-PGE mineralisation.

2. Epithermal gold mineralisation– as evidenced by the historic Donnybrook Goldmines Ltd south of the licence with production of 1,100oz from 1,497 tons of ore between 1897 and 1904. (Ref: BHP Minerals Ltd DMIRS report of 1 Feb 1987 for exploration work 1985-87)

3. Archean Cu-Au mineralisation analogous to Newmont’s Boddington Copper-Gold Mine 75km NE which is one of the largest gold mines in the world, producing approximately 700k oz Au and 35kt Cu p.a. (Refer ASX release 29 March 2021)

The Company has submitted 840 samples to Bureau Veritas for sieving and Au, Pt, Pd analysis with multielements to be determined using pXRF in house. Laboratory turnaround times have increased substantially in the last three months and assays were still pending for the majority of the samples at quarter’s end.

4. Westonia Project at Southern Cross (KGD 100%)

Fig 6. Transported clays over calcrete Westonia Area

Fig 6. Transported clays over calcrete Westonia Area

A field visit to the Westonia area has confirmed extensive laterite development coincident with the gravity target south of Westonia Mine. Once granted an extensive auger program is planned to commence in this area which shows good calcrete development under transported material (Photo below).

Fig 5. Kula’s tenements in the Westonia area

Fig 5. Kula’s tenements in the Westonia area

5. Kurnalpi-Lake Rebecca Gold Project (KGD 100%)

The Company’s Lake Rebecca Gold project is readying for the next phase of exploration following neighbouring company Apollo Consolidated’s (ASX: AOP) recent announcement on 20 April 2021 of a 50% increase in Indicated gold resources at their Lake Rebecca Gold discovery. An auger program is planned to commence in Q3.

Fig 7. Kula’s Kurnalpi project tenement location, with neighbouring explorers.

Fig 7. Kula’s Kurnalpi project tenement location, with neighbouring explorers.

6. Indicative Exploration Timeline for the Next 3 Quarters

Indicative Kula Exploration Timeline for the Next 3 Quarters.

Indicative Kula Exploration Timeline for the Next 3 Quarters 2021-2022

7. Corporate

After quarter end, the Company completed a placement of 36m shares to raise $1.8m under its 7.1 and 7.1A share issuance capacity managed by Foster Stockbroking Pty Ltd.

– News Release –
Date: 29 July 2021 | ASX Code: KGD


About the Company
Kula Gold Ltd (ASX: KGD) is a Western Australia gold exploration company focussed on large land positions and structural geological settings capable of hosting ~1m oz deposits.
The company has projects within the Southern Cross WA region including Marvel Loch, Rankin Dome and Westonia, as well as near Kurnalpi and Brunswick. The company has a history of large gold resource discoveries with its foundation Woodlark Island project in PNG.
Contact the Company Secretary on Tel: +61(08) 6144 0592 or via cosec@kulagold.com.au

Figure 2. White Kaolin Clays at the Airfield Project from 5 to 60m BMRC001

Kaolin discovered by Kula Gold at Southern Cross

⛏️ Kula Gold Limited reports that that RC drilling at the Airfield Gold Project near Southern Cross WA, intersected thick >42m vertical kaolin clay development over the 300m drilled length at the newly named Boomerang Kaolin Prospect. An RC Drilling Program is planned to define and test the extents of the kaolinized zone in August.

Figure 1. Kula Gold's Boomerang Kaolin Prospect is located in Southern Cross WA.

Figure 1. Kula Gold’s Boomerang Kaolin Prospect is located in Southern Cross WA.

HIGHLIGHTS:

• Drillhole 21BMRC001 intersected 10m @ 7% Halloysite from 40m depth downhole (8.8m true thickness) within an intersection of 55m of kaolin downhole;

• All three RC holes intersected +42m average vertical thickness white kaolin clays near the centre of the licence- (the Boomerang Kaolin Prospect) only 5m from surface;

• Initial lab sample analysis confirms high ISO brightness, high kaolin % and low impurities;

• HPA sighter leach test in progress;

• RC drill rig secured for immediate resource definition drilling program commencing this quarter.

The holes were drilled to test a magnetic anomaly and intersected the deep white kaolin zone shown in Figure 2.

Figure 2. White Kaolin Clays at the Airfield Project from 5 to 60m BMRC001

Figure 2. White Kaolin Clays at the Airfield Project from 5 to 60m BMRC001

A total of 28 five metre composite samples were sent to Bureau Veritas (“BV”) in Adelaide for sieving, XRF and ISO brightness analysis.

The samples were wet sieved to remove quartz and mica to produce a coarser -180µm +45µm fraction and a finer -45µm fraction which were both assayed by XRF.

The -45µm samples were then sent to CSIRO for XRD analysis to determine the kaolin-halloysite content.

The results have been received and are shown in Table 1. A sighter HPA leach test is in progress for the Boomerang Kaolin Project.

13072021_KulaGoldMedia_KaolinResultsTableDiscovery_July2021

Results for the 28 Boomerang composite kaolin samples show approximately 47% of the sample reports to the -45µm fraction which grades 37% Al2O3 with very low levels of impurities (Fe2O3 and TiO2) and high ISO brightness results. Results are very consistent across the three drill holes, and comparable to some of the higher quality deposits in the industry, albeit early stage as only three holes have been drilled to date.

Figure 3. Cross Section of the Boomerang prospect RC drilling showing thick zones of Kaolin clays.

Figure 3. Cross Section of the Boomerang prospect RC drilling showing thick zones of Kaolin clays.

SUMMARY AND NEXT DRILLING PROGRAM

The bright white kaolin zone was discovered when drilling a geophysical based gold target in April this year (See Figure 2 above).

A 200m spaced RC drilling program (2000m) is planned to define and test the extents of the kaolinized zone above the granite in August. The company believes the Exploration Target is between 30 and 100Mt of kaolin material based on the current thickness and the nature of the process that forms the wide zones of kaolin in weathered granite. Drill testing will continue if wide zones are intercepted in the planned program. The target size is conceptual in nature and there has been insufficient exploration to estimate a mineral resource at this stage. Only three drillholes have been completed over a length of approx. 300m to date and it is uncertain if further exploration will result in the estimation of a mineral resource.

The planned RC drilling is expected to be efficient given the spacing, and soft shallow profile. Drillholes will also be extended a further ~10m into fresh rock to test for gold below the kaolin on potential geophysical targets. Additional areas where the previous auger drilling identified bright white kaolin clays near surface are also planned to be RC drilled to verify the thickness of the kaolin clays.

The Boomerang Kaolin prospect lies in a favourable location, being ~25km from the Kalgoorlie water pipeline and Highway 94 Perth to Kalgoorlie, and 42km to the Southern Cross Rail yard.

The Company notes recent results from Western Australian Kaolin and Halloysite explorers, Andromeda Metals Ltd (ASX:ADN), Suvo Strategic Minerals Limited (ASX:SUV), Latin Resources Limited (ASX: LRS), FYI Resources Limited (ASX:FYI), WA Kaolin (ASX:WAK) & Alpha HPA Ltd (ASX:A4N). Recent prices for Kaolinite end product have been quoted/published at up to $700/t. Higher grade Halloysite and some applications in the High Purity Alumina (HPA) sector can achieve prices as high at $30,000/t with further processing. Further details on the world kaolin market are attached at Appendix 1.

Whilst Kula’s results are preliminary and need to be confirmed by follow up drilling and assays, the Company believes that the initial assays are significant in grade and extent and require further investigation and drilling.

APPENDIX 1

Nature and Occurrence – World Markets for Kaolin.

Kaolin is a white, soft, plastic clay composed mainly of kaolinite, Al4(OH)8[Si4O10], and other related clay minerals such as nacrite and dickite (Baker & Uren 1982). Primary kaolin tends to be well-ordered, with a high degree of crystallinity, forming a dense texture of semi-plastic clay. It forms in response to anhydrous aluminium silicate alteration in feldsparrich rocks by weathering or hydrothermal processes.

Many kaolin deposits have been significantly upgraded by post-depositional weathering and diagenesis that have removed much of the original impurities — such as carbonaceous material and iron minerals — and have allowed extensive recrystallisation of the kaolinite to take place. Kaolin is produced by more than 50 countries.

The main exporters of refined (filler-grade) kaolin for high-quality markets, including paper, plastics and paints, are the USA, Great Britain, Brazil, and Germany. Major suppliers of low-to medium-quality kaolin used in applications such as refractories and ceramics include China, Colombia, South Korea, Uzbekistan and Ukraine.

Halloysite.

This is similar to kaolinite but with variable amounts of water (H2O) between the layers and composed of long, slender, tube-like crystals as per the diagrams below.

Figure 5. Kaolinite vs Halloysite Structures and an example of platy kaolin and Halloysite tubes in SEM image on right.

Figure 5. Kaolinite vs Halloysite Structures and an example of platy kaolin and Halloysite tubes in SEM image on right.

Chemically inert, nonabrasive and in possession of a number of characteristics make this commodity highly desirable for use in a broad range of industries including paper and paperboard, ceramics, fibreglass, paints and coatings, plastics, rubber, pharmaceuticals and medical, cosmetics, concrete and agriculture.

High Purity Alumina (“HPA”)

HPA is a non-metallurgical premium alumina product characterised by a minimum purity of 99.99% (4N). It is produced from Kaolin processing it through a variety of metallurgical processes to produce a 4N product.

HPA is used as a base material in the manufacture of a variety of products including:

• Light Emitting Diodes (LED’s);

• Electronic displays;

• Separator between cathode and anode in EV and rechargeable batteries -specifically the growing EV market. This is a highly important consideration for EV batteries, as HPA purity is critical to prevent battery ageing.

13072021_KulaGoldMedia_HPABatterycrosssection_July2021

HPA demand is forecast to increase substantially in the next decade.

View the Full ASX Release here: Southern Cross-Airfield RC Drilling Discovers +42m Vertical Thickness High Quality Kaolin Clays near surface.

– News Release –
Date: 13 July 2021 | ASX Code: KGD

Cautionary Statement: Forward Looking Statement: This announcement may include statements that could be deemed “forward-looking statements”. Although Kula Gold Limited (the Company) believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are no guarantee of future performance and actual results or developments may differ materially from those expected in the forward-looking statements or not take place at all.

No offer to sell or invitation to buy: This announcement is not, and should not be considered to, constitute any offer to sell, or solicitation of an offer to buy, any securities in the Company, and no part of this announcement forms the basis of any contract or commitment whatsoever with any person. The Company does not accept any liability to any person in relation to the distribution or possession of this Presentation from or in any jurisdiction.

Disclaimer

Whilst care has been exercised in preparing and presenting this announcement, to the maximum extent permitted by law, the Company and its representatives: • make no representation, warranty or undertaking, express or implied, as to the adequacy, accuracy, completeness or reasonableness of this announcement; • accept no responsibility or liability as to the adequacy, accuracy, completeness or reasonableness of this announcement; and • accept no responsibility for any errors or omissions from this announcement.


About the Company
Kula Gold Ltd (ASX: KGD) is a Western Australia gold exploration company focussed on large land positions and structural geological settings capable of hosting ~1m oz deposits.
The company has projects within the Southern Cross WA region including Marvel Loch, Rankin Dome and Westonia, as well as near Kurnalpi and Brunswick. The company has a history of large gold resource discoveries with its foundation Woodlark Island project in PNG.
Contact the Company Secretary on Tel: +61(08) 6144 0592 or via cosec@kulagold.com.au

02072021_KulaGoldMedia_GreenstoneDiscoveryAirfieldGoldFigure1Header_July2021

RC Drilling discovers previously unmapped Greenstone at Airfield Gold

⛏️ Kula Gold Limited reports a major technical breakthrough in the Company’s highly prospective Southern Cross Gold Project.

The Company has confirmed the discovery of large areas of previously unmapped nor recognised Amphibolite/BIF (Greenstone) belts at its Airfield Gold Project.

02072021_KulaGoldMedia_GreenstoneDiscoveryAirfieldGoldFigure1_July2021

Figure 1. Amphibolite outcrop with BIF float inside the Ghooli Dome on a new licence application at Airfield Gold.

Subsequent field verification of Amphibolite/BIF in several areas inside the Ghooli Dome at Airfield Gold, confirm over 25km of strike length to date, with the holding sitting near to the prosperous Greenstone belt at Southern Cross (see Map below which highlights the gold deposits across the belt).

As a result the company applied to expand its Airfield Gold Project to 570km² and the next steps in the process are to resample some of the RC drilling to one metre samples, (from current 4m composite samples) and then carry out a constrained diamond drilling program to provide orientation data and geotechnical information.

Kula Gold's holdings at Southern Cross - highlighting the Greenstone belt that runs through the region.

Kula Gold’s holdings at Southern Cross – highlighting the gold deposits on the Greenstone belt that runs through the region.

The new information will focus Kula’s next Southern Cross exploration program targeting totally unexplored greenstones in this prolific gold producing region (15m ounces produced from the region’s Greenstone belt), which is gearing up in H2 2021.

Kula’s initial interest in the Ghooli area came from a Sons of Gwalia (SOG) low level Au anomaly generated from regional auger regolith sampling. This anomaly appears to be associated with previously unknown, upper greenschist to lower amphibolite facies greenstones with good potential host rocks (BIF, mafic volcanics) in the centre of the Ghooli granite dome. There is no prior exploration work on the Airfield EL other than this 30-year-old work by SOG.

Figure 2. Displaying RC drilling samples at Airfield Gold.

Figure 2. Displaying RC drilling samples at Airfield Gold.

This technical breakthrough endorses Kula’s focus of drilling near to operating gold mines as geologically proven areas for discovery, and importantly the development and mining of any discovery is much quicker and far less capex than a greenfields new mine development. The new licences are now targeting previously unrecognised amphibolite zones in the Ghooli Dome which were intersected in the recent Airfield drilling program to the south.

Figure 3. Typical Section showing Au results at Airfield/Crayfish Prospect

Figure 3. Typical Section showing Au results at Airfield/Crayfish Prospect

The drilling program consisted of 4 Aircore holes and then 23 RC holes for 1824m of drilling. RC drilling at the Crayfish Prospect intersected silica-epidote altered, quartz-veined amphibolite with zones of pyrite, with only low level gold results, which explains the gold in the auger sampling from the first pass auger. The RC program results as follows, for Au ranged from below detection (BD) to 73ppb gold over 4m, Platinum ranged from BD to 65ppb and Palladium from BD to 60ppb. Drilling confirmed the new additional target of gold in greenstones, so refines the auger sampling in future programs for time and cost savings to identify prospective auger geochemical targets for future RC drill testing.

For more detailed RC program results please see the PDF here.

Kula Gold has completed auger drilling along approximately 51km of lines on the Marvel Loch licence and results will be reported once they are available from the assay laboratory.

Drillholes 21BMRC001-003 were testing a geophysics target and intersected thick approximately 40m vertical zones of kaolin which have been separately sampled and sent to Bureau Veritas and CSIRO in Adelaide for kaolin testwork and results of this testwork will be reported in due course.

Next Steps:
1. Resampling some of the RC to one metre samples, (from current 4m composite samples) and a
constrained diamond drilling program to provide orientation data and geotechnical information.

April/May Auger Program Outcomes:
2. A compilation of auger results which are inbound from the lab will be performed, followed by infill
auger sampling of any generated gold anomalies from the first pass broad program.
3. RC drilling program of any gold anomalies generated from the incoming auger results.

Brunswick Project Exploration
A substantial soil program has been conducted in the Brunswick project, results will be reported in due
course.

– News Release –

Date: 2 July 2021 | ASX Code: KGD

Qualified Person Statement
The information in this report that relates to geology and exploration is based on information compiled by Mr. Adam Anderson, a Competent Person who is a member of the Australian Institute of Mining and Metallurgy and the Australian Institute of Geoscientists. Mr. Anderson is a Geology and Exploration Consultant who has been engaged by Kula Gold Ltd. Mr. Anderson 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). Mr. Anderson consents to the inclusion in the report of the matters based on his information in the form
and context in which it appears.


About the Company
Kula Gold Ltd (ASX: KGD) is a Western Australia gold exploration company focussed on large land positions and structural geological settings capable of hosting ~1m oz deposits.
The company has projects within the Southern Cross WA region including Marvel Loch, Rankin Dome and Westonia, as well as near Kurnalpi and Brunswick. The company has a history of large gold resource discoveries with its foundation Woodlark Island project in PNG.
Contact the Company Secretary on Tel: +61(08) 6144 0592 or via cosec@kulagold.com.au

Kula Gold's holdings at Southern Cross - highlighting the Greenstone belt that runs through the region.

Kula expands Airfield Gold holding by 450km² at Southern Cross

⛏️ Kula Gold Limited has substantially expanded its land holding at Southern Cross with its Airfield Gold Project now covering 570km².

Kula Gold's new land holdings at Marvel Loch - significantly expanding the project area to the north.

Kula Gold’s new land holdings (unlabelled blue shapes) at Marvel Loch – significantly expanding Airfield Gold Project’s Southern Cross footprint.

After completing an extensive drilling program in April 2021, the company has applied for an extra 450km² in  land holdings north of the existing 120km² E77/2621 Airfield Gold Project area – as it identified prospective geological structures from geophysics and geochemistry which are capable of hosting significant gold resources.

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Stark Drilling rigs on the ground at Kula Gold's Airfield Gold Project - April 2021

Kula Gold released an updated Corporate Overview at its AGM on Monday 19 May 2021 which included details on what was achieved by the drilling program in April.

The Marvel Loch Gold Mill is only 8km from the Airfield Gold Project.

– News Release –
Date: 20 May 2021 | ASX Code: KGD


About the Company
Kula Gold Ltd (ASX: KGD) is a Western Australia gold exploration company focussed on large land positions and structural geological settings capable of hosting ~1m oz deposits.
The company has projects within the Southern Cross WA region including Marvel Loch, Rankin Dome and Westonia, as well as near Kurnalpi and Brunswick. The company has a history of large gold resource discoveries with its foundation Woodlark Island project in PNG.
Contact the Company Secretary on Tel: +61(08) 6144 0592 or via cosec@kulagold.com.au

19052021_KulaGoldMedia_CorporateOverview_May2021

Updated Corporate Overview released at Kula Gold AGM

⛏️ Kula Gold Limited has released an updated Corporate Overview at its AGM today, Wednesday 19 May 2021.

19052021_KulaGoldMedia_CorporateOverview_May2021

The overview includes key information regarding our various Projects throughout WA and the Highlights Summary is as follows:

✓ At our Southern Cross Projects – under-utilised district gold plants within 60km offer potential to quickly transition
into a gold producer with exploration success.
✓ In April 2021 – 1253 Auger drill holes and 1823m of AC/RC drilling were completed which has added significantly to our understanding of the regolith in the Southern Cross area, and assay results pending.
✓ Potential for Cu-Au and Ni-Cu_PGE style previously not identified at Brunswick Project in the Western Gneiss Terrain – 0.18% Ni on initial rockchip sample.
✓ Follow up drilling programs are planned.
✓ Experienced team with world class exploration techniques.
✓ Well funded with low operating costs.
✓ New project generation work ongoing at low cost.
✓ Dedicated to adding shareholder value.

You can see the full release by downloading the Kula Gold Corporate Overview May 2021.

19052021_KulaGoldMedia_AirfieldGoldSamplesWeb_May2021

– News Release –
Date: 19 May 2021 | ASX Code: KGD


About the Company
Kula Gold Ltd (ASX: KGD) is a Western Australia gold exploration company focussed on large land positions and structural geological settings capable of hosting ~1m oz deposits.
The company has projects within the Southern Cross WA region including Marvel Loch, Rankin Dome and Westonia, as well as near Kurnalpi and Brunswick. The company has a history of large gold resource discoveries with its foundation Woodlark Island project in PNG.
Contact the Company Secretary on Tel: +61(08) 6144 0592 or via cosec@kulagold.com.au

03052021_KulaGoldMedia_BrunswickSample1_April2021

Kula Chairman provides commentary on Airfield Gold and Brunswick Projects

⛏️ Kula Gold Limited Chairman Mark Stowell has provided updated commentary on the company’s Airfield Gold and Brunswick Projects.

We are encouraged by the initial drilling campaign (at Airfield Gold) with a very versatile RC/AC rig that enabled a variety of drill test holes on a cost-efficient basis.”

Read more about the latest Airfield Gold drilling program (comprised of 1,823m of Air core (AC)/Reverse Circulation (RC) drilling) by Kula Gold in conjunction with Stark Drilling here.

Assays have been submitted and results are anticipated in late May 2021.

12042021_KulaGoldMedia_KulaStarkDrillingatAirfieldGold2_April2021

Drilling program at Airfield Gold – April 2021

Stowell also provided commentary on the company’s Brunswick Project as the 2021 H1 soil sampling program continues.

The Brunswick project continues to deliver areas of geological interest for more detailed sampling and testwork. The potential scale and scope of this project, covering a 45 km strike length is significant, given its close proximity to major mining areas of Boddington (Au-Cu) 75km NE, and Greenbushes (Li) ~25km SE.”

Fieldwork by the company’s geological team identified potential for three types of mineralisation at the Company’s ~250km² Brunswick project and these are now the focus of exploration work comprising a large soil sampling program which is well underway:

  1. Julimar Style Ni-Cu-PGE mineralisation.
  2. Epithermal gold mineralisation– as evidenced by the historic Donnybrook Goldmines Ltd south of the licence with production of 1,100oz from 1,497 tons of ore between 1897 and 1904. (Ref: BHP Minerals Ltd DMIRS report of 1 Feb 1987 for exploration work 1985-87).
  3. Archean Cu-Au mineralisation analogous to Newmont’s Boddington Copper-Gold Mine 75km NE which is one of the largest gold mines in the world, producing approximately 700k oz Au and 35kt Cu p.a. (Refer ASX release 29/3/21)
Matrix style pyrite + chalcopyrite ± pyrrhotite mineralisation from the same locality at Brunswick - February 2021.

Matrix style pyrite + chalcopyrite ± pyrrhotite mineralisation from the same locality at Brunswick.

⛏️ Forward Program – Activity Timeline for Q2, Q3 and Q4 2021.

Kula Gold’s most recent Exploration Update from 28 April 2021 is available here.

28042021_KulaGoldMedia_KulaTimeLineQ234_April2021

– News Release –
Date: 30 April 2021 | ASX Code: KGD


About the Company
Kula Gold Ltd (ASX: KGD) is a Western Australia gold exploration company focussed on large land positions and structural geological settings capable of hosting ~1m oz deposits.
The company has projects within the Southern Cross WA region including Marvel Loch, Rankin Dome and Westonia, as well as near Kurnalpi and Brunswick. The company has a history of large gold resource discoveries with its foundation Woodlark Island project in PNG.
Contact the Company Secretary on Tel: +61(08) 6144 0592 or via cosec@kulagold.com.au