Kula Gold’s Marvel Loch-Airfield Gold Project (EL77/2621) sits over the south-central part of the Ghooli Dome near Marvel Loch in the Southern Cross region of Western Australia.

The Project is located 5km east of the town of Marvel Loch, a major gold mining centre in Western Australia. This locality has a number of current and historical mining operations nearby, providing valuable infrastructure and services for potential future development including the Marvel Loch mine and mill, which are in production under the ownership of Minjar Gold. The Southern Cross Greenstone Belt itself is a strongly deformed, metamorphosed synformal remnant of a once larger greenstone assemblage.

Within the Marvel Loch-Airfield Gold Project sits the following Company Tenements:

⛏️  Boomerang Kaolin 93.3mt Deposit

⛏️  Boomerang Gold Prospect

⛏️  Stingray Gold & Lithium Prospect

⛏️  G-Star Gold Prospect 

⛏️  Nevoria North Prospect 

⛏️  311 Prospect 

⛏️  Crayfish Gold Prospect

⛏️  Ballantine White Prospect

Figure 1: Kula’s Marvel Loch Project featuring the key prospects within.

2024 Exploration Updates at Marvel Loch-Airfield Gold.

⛏️   In April 2024, Kula Gold reported geochemical sampling had defined a gold anomaly at the Boomerang Gold Prospect.

HIGHLIGHTS

• UFF soil sampling defines a gold anomaly for drill ready target
• Drilling approvals in place
• Geochemistry results indicate a mafic/ultramafic unit in the prospect and adjacent to the west limb of the Boomerang Prospect
• The gold anomaly sits in a magnetic low which is highly encouraging
• Located on a 310-330 degree orientation azimuth within a magnetic low – the optimal configuration as most of the gold deposits in the area are on the same azimuth.
• Cross-cutting NE (050) structure in the vicinity of the geochemistry results which hosts a past drill result of 1m @ 2.6g/t gold at 54m
• The target is 5km from the Marvel Loch gold plant, which aligns with Kula’s strategy of exploring near to existing operations for any discovery to fast track to monetary success
• Close to existing Marvel Loch gold processing infrastructure and the historic multimillion ounce Marvel Loch area gold mines

Kula’s Managing Director Ric Dawson comments:

“This is a very promising target in a proven mining district, so Kula has a rig on standby, preliminary drill locations have been marked, awaiting detailed geochemistry results to refine the drill locations and commence drill testing over the next few weeks.

Current GSWA 1:250,000 mapping in this region is different to what Kula is now discovering and observing and this now opens up major gold exploration potential in our large unexplored landholding.”

⛏️   In February 2024, Kula Gold reported geochemical sampling has commenced and satellite interpretation has enhanced the Boomerang Gold Prospect.

The prospect is north of the Nevoria Gold Mine (+600,000oz gold), and east of the 3Moz Marvel Loch Gold Mine and west of the Mt Palmer Gold Mine (+150,000 oz gold).

HIGHLIGHTS

• Boomerang Gold Prospect below the existing Boomerang Kaolin Deposit– with a 1m @ 2.6g/t gold from 54m interval
• Coincident satellite Sentinel -2 arsenopyrite anomaly
• Close to existing Marvel Loch gold processing infrastructure
• UFF soil sampling commenced – a low cost, high value add programme
• Drilling approvals in place

Kula’s Managing Director Ric Dawson comments:

“The Company’s consultant has been able to interpret satellite Sentinel-2 imagery over the Boomerang Gold Prospect and observes that a substantial arsenopyrite mineral group correlation anomaly is coincident with the dislocation magnetic structure and the nearby gold intercept.

Historically the rich Southern Cross Goldfield region has had its gold mineralisation associated with arsenopyrite especially at the Mt Palmer Gold Mine to the east and has produced over 150,00oz of gold, at an average of 15g/t.

Quote from the nearby Mount Palmer Gold Mine– “Milky coloured quartz reefs at Palmer’s tend to be barren, while gold can be found in sugary quartz, vitreous quartz and associated with arsenopyrite.”

⛏️  In early February 2024 – Kula Gold reported recent geochemical sampling and geophysical interpretation which has identified two new, and advances two other Gold prospects at the Marvel Loch Project.

The new prospects are ‘Boomerang Gold‘ and ‘Stingray Gold’ within the Marvel Loch Project, with the Kula team continuing to further develop existing Gold prospects also within Marvel Loch – the 311 Prospect, Nevoria North Prospect and G-Star Prospect.

All prospects are North of the Nevoria Gold Mine (+600,000oz gold), and East of the 3Moz Marvel Loch Gold Mine.

Kula Managing Director Ric Dawson comments:

“The Company is excited to be exploring the historically rich Southern Cross Goldfield region which has produced over 15Moz of gold, at an average of 3-5g/t.

Following recent geochemical sampling results the Company is focussing on the Boomerang and Stingray Gold Prospects with follow up at the Nevoria North, G-Star and 311 Prospects.

A very large magnetic circular feature had provided the Kula team with a concept for an initial UFF soil programme which provided a surprise gold anomaly at the now named Stingray Gold Prospect.

A gold intercept from drilling at the Boomerang Kaolin Deposit in 2021 reported, 1m @ 2.6g/t gold from 54m and recent geophysics work shows it is located near a strong dislocation feature in the magnetics.”

Figure 2. Kula’s Marvel Loch, Southern Cross and Westonia Projects, location of regional gold mines and preexisting infrastructure

2023 Exploration Updates at Marvel Loch-Airfield Gold.

⛏️  In March 2023 – Kula Gold is pleased to report reconnaissance field mapping and sampling on a lithium and tantalum bearing pegmatite within its 100% owned Marvel Loch-Airfield Project E77/2806, approximately 90km north of the hard rock Mt Holland Lithium Mine in Western Australia.

Kula’s Chief Executive Officer Ric Dawson said:

“This new target in the Marvel Loch-Airfield Project with a LCT suite mineralisation focus, opens up a whole new area of interest for the Company.”

• Rock chip sampling at Marvel Loch E77/2806 has resulted in anomalous Lithium and Tantalum results.
• Up to 59.8ppm and 40.2ppm Lithium (Li) and 55.5ppm Tantalum (Ta), along a magnetic structure of up to 4km.

The E77/2806 tenement has since become the Taliah Nadia Sasha Prospects, still part of the wider Marvel Loch-Airfield Gold/Southern Cross Project.

⛏️  The Marvel Loch Story – MEGWA Presentation by Adam Anderson and Melanie Hickman in November 2022.

2021-2022 Exploration/Drilling Updates at Marvel Loch-Airfield Gold E77/2621:

⛏️ RC drilling in 2021 discovered large areas of previously unmapped nor recognised amphibolite/BIF (greenstone) belts in the Marvel Loch-Airfield Project. The Company recognised a geophysical signature associated with the results and has identified numerous repeats of similar greenstone prospects in the region, so Kula applied for new applications adding to Marvel Loch-Airfield covering 570km².

⛏️ Prior exploration at the Airfield Project was completed by Sons of Gwalia Ltd (“SOG”) in the late 1980’s. The exploration reports at the time showed auger gold in soil anomalies in the Ghooli Dome which had not been followed up. An auger drilling and follow-up aircore and RC drilling program was conducted in April 2021.

⛏️ The Company completed RC drilling at the Marvel Loch-Airfield Project near Southern Cross WA intersected thick >42m vertical kaolin clay development over the 300m drilled length at the Boomerang Kaolin Prospect. The holes were drilled to test a magnetic anomaly and intersected the deep white kaolin zone.

⛏️ Follow up RC drilling at Boomerang Kaolin was completed across late 2021-early 2022, with diamond drilling conducted in March 2022.

The Southern Cross Greenstone Belt has been shaped and attenuated by the emplacement of syn-tectonic granitoids (Gee, 1995). These granitoid domes include the Ghooli, Parker and Rankin Domes (Gee, 1982; Keats, 1991).

On a regional scale, sheared lithological contacts are the primary control on the distribution of gold mineralisation. Most of the belt’s production has been derived from shear-hosted deposits (Marvel Loch, Yilgarn Star and Frasers) and to a lesser extent fold hinge deposits, usually in Banded Iron Formation (Copperhead, Golden Pig and Bounty).

Kula Gold Limited announced the identification of the G-Star Gold Prospect at its Marvel Loch-Airfield Gold Project in November 2021.

Highlights:

• G-Star Gold Prospect identified from first pass Auger geochemistry sampling.
• 217 follow up auger geochemistry samples recently completed.
• Results of up to 18ppb gold define a northwest- southeast striking geochemical anomaly that extends over 2,200m and is open to the northwest.
• Located 3.5km north of the Nevoria Gold Mine (+600,000oz gold), and 9km east of the 3 Moz Marvel Loch Gold Mine, the G-Star Prospect sits within the Ghooli Dome.
• Kula geologists consider the possibility that G-Star is underlain by amphibolite and BIF greenstone (the predominant host rock of most of the gold deposits in WA).

Figure 1. Kula’s new G-Star Gold Prospect identified from results of first pass auger geochemistry sampling (yellow, green and blue dots), and location of the recently completed follow up auger geochemistry samples (white dots).

Sahara Operations (Australia) Pty Ltd completed first pass auger geochemistry sampling on behalf of Kula in April 2021 (refer ASX releases 12th April 2021 and 2nd July 2021), with 215 samples taken over the G-Star area (Figure 1).

Samples were taken at a median depth of 2m and targeted the interface below the transported cover. Results of up to 18ppb gold define a northwest- southeast striking geochemical anomaly that extends over 2,200m and is open to the northwest (Figure 2).

Kula engaged Sahara’s Mobile Auger Rig to complete a further 217 infill auger geochemistry samples at G-Star during October 2021.

Company geologists were onsite for the start of the program to ensure sampling of the correct horizon via appropriate sampling technique. Haematitic lateritic soils and saprolite clays—a favourable sampling medium—were observed. Sample locations are provided in Figure 1.

Kula geologists consider the possibility that G-Star is underlain by amphibolite and BIF greenstone (the predominant host rock of most of the gold deposits in WA).

G-Star may be much like the previously unmapped greenstone discovered by Kula in a major technical breakthrough during RC drilling at the nearby Crayfish Gold Prospect (refer ASX release 2nd July 2021).

The highly prospective greenstone belts of the Southern Cross Region have produced over 15m ounces of gold to date, at an average of 3-5g/t gold and are the reason Kula staked this region as its lead project.

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