Rock chip finds sharpen Kula South West gold | Australian Markets

Kula Gold has struck gold again at its Mustang prospect close to Kirup in Western Australia’s South West area, with recent rock chip samples revealing high-grade hits of 4.8 grams per tonne (g/t) and 4.3g/t gold.

The chips have been uncovered simply 50 metres and 200m south respectively from its maiden drill outcome of 2m at 2.3g/t gold from 34m.

The latest haul comes from a batch of 10 rock chip samples. Two chips with high grades have matched up with ultra-fine soil sampling to sharpen the define of a promising gold anomaly, stretching a potential 300m and even additional.

Heightening the anticipation, Kula Gold says its most up-to-date discovery gives compelling proof that it may need uncovered a beforehand unknown gold system in an space of land that has no file of prior exploration.

Mustang continues to show potential for a new gold system within the Kirup district from our low-cost work supported by the DEMIRS and its EIS co-funding drilling prices to help this potential new gold discovery.

Mustang is 110 kilometres southwest of Newmont’s Boddington gold mine – now Australia’s prime canine with 786,000 ounces churned out yearly from a hefty 11.2-million-ounce useful resource – and is beginning to flex its muscle mass as a critical contender in Kula’s lineup. The company holds 100 per cent of the important thing tenements within the space, with one lease at 70 per cent in a three way partnership with Sentinel Exploration.

In the late 1800s, a gold deposit 10km up the street was found by Canadian prospector Larry Cammilleri, who’s best identified for his discovery of a distinctive gold lode that put Boulder in Kalgoorlie-Boulder. That neighbouring deposit ended up pulling 236 ounces of gold from simply 51 tonnes of ore at a jaw-dropping 130g/t. Kula owns that ground too – and its comparable geological setup to Mustang has the workforce dreaming of a repeat efficiency.

The new rock chip stars are backed by a tighter soil sampling grid that’s stuffed within the blanks on a growing anomaly. Follow-up close-spaced drone magnetics and a recent spherical of reverse circulation and air core drilling at the moment are within the works to correctly check this system.

The state authorities’s Exploration Incentive Scheme is driving shotgun again and has chipped in 50 per cent of the drilling and mobilisation prices up to $180,000. With taxpayers’ money within the kitty and the scent of gold growing stronger, Kula’s low-cost exploration push is choosing up steam.

As drill rigs gear up and the anomaly takes form, Kula and its followers will eagerly await the probabilities a recent gold discovery would offer.

With a legendary goldfield subsequent door and a high-grade previous whispering potential, this uncharted patch could possibly be the spark that lights up the company’s future.

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