Kula Gold taps into new WA gold discovery with a | Australian Markets

Kula Gold has uncovered a vital new gold discovery at its Mustang gold prospect, close to Donnybrook in Western Australia, following the company’s maiden reverse circulation (RC) drilling program in December.

The primary drilling on the project, which is 110 kilometres from Australia’s largest gold mine Boddington, was designed to check a high-order 800m gold-in-soil anomaly uncovered by the company’s ultra-fine soil sampling and subject mapping earlier final 12 months.

The one and solely gap into the anomaly intersected a promising 2 metres at 2.3 grams per tonne (g/t) gold from 34m, highlighting the potential for what Kula says is a beforehand unrecognised gold system within the area.

The company’s drill marketing campaign was backed by the WA Authorities’s exploration incentive scheme, which supported Kula’s initial exploration with up to $180,000 in co-funding.

Administration says the drilling outcome validates the company’s exploration method and will mark the start of an rising gold system at Mustang.

Kula is happy to have found a fully new gold system from grassroots exploration with subject mapping, and UFF soil sampling. This 800m strike size soils goal was intersected with the primary and solely gap of 2.3g/t gold from 34m warranting additional work to know how huge this system is alongside strike and at depth and hopefully (develop) an financial gold mine.

Kula’s geological method has been constructed on the idea of first-mover benefit within the area, which peculiarly hosts Australia’s largest gold mine however has had no additional repetitions.

The company says its tactic is to align with famend geologist Jon Hronsky’s exploration strategy that discoveries of most significance are sometimes made in probably the most underexplored areas.

Mustang is 110km southwest of the Boddington gold mine, which has a staggering output of 703,000 ounces per 12 months. Most of WA’s main gold discoveries are within the outstanding goldfields within the Yilgarn craton, not like Boddington, which sits alone within the State’s southwest, simply 75km inland from Mandurah.

The Donnybrook space is home to smaller traditionally high-grade deposits, together with the Cammilleri mine 10km north of Mustang, which in its heyday produced 236 ounces of gold at a huge 130g/t.

The company notes that coincident geochemical and magnetic anomalies at Mustang additional strengthen the case for a substantial new mineralised system, which they intend to rapidly observe up.

Kula says it’s going to subsequent make use of close-spaced drone magnetics to refine the construction of the goal zone, run an expanded drilling program to outline the mineralised footprint and conduct additional soil sampling to efficiently establish another new discovery targets.

The company expects to report extra assay outcomes shortly as they trickle in over the approaching month.

With such an underexplored area so close to a lonesome world-class gold mine, Mustang is shaping up as an thrilling prospect for Kula’s growing exploration portfolio. As gold continues to interrupt document highs, a fully-fledged gold discovery in WA could be precisely what the share price physician ordered.

Is your ASX-listed company doing one thing fascinating? Contact: [email protected]