Kula Gold (ASX:KGD) returns more high grade results at Westonia
October 27, 2022Kula Gold gold will expedite Heli VTM and magnetic survey following 498.3ppm copper and 15.5ppb PGE grades from additional rock chip samples collected from its 100% owned Westonia Project near the Edna May Gold Mine in Western Australia’s Eastern Wheatbelt.
Gossanous rock samples will support exciting and surprising results announced in August, warranting an urgent prioritisation for the next exploration phase given its promiximity to the 2Mtpa Edna May gold mine.
It is a promising sign for the Company which is focused on acquiring significant landholdings with structural geological settings capable of hosting ~1m oz gold or equivalent deposits.
Kula is completing an economic study of the 93.3mt Boomerang Kaolin deposit following announcing its discovery in July.
The airborne and magnetic survey is likely to begin in late November.
Price Action
The Company’s ASX-listed shares are 3.9c at Market Open with buyers heavily outnumbering sellers.
About the Company
Kula Gold Limited (ASX: KGD) is a Western Australia gold exploration company focussed on prominent land positions and structural geological settings capable of hosting ~1m oz gold or equivalent deposits.
The Company is advancing projects within the Southern Cross region of WA and Brunswick, South West of Western Australia. The Company has a history of significant resource discoveries, with its foundation being the Woodlark Island project in PNG, which was subsequently joint-ventured and sold to (ASX: GPR).
Kula’s recent discovery of the 93.3mt Boomerang Kaolin deposit – was announced on July 20 2022. This large project is in the economic study phase. The exploration team are busily working towards the subsequent discovery.
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