Kula Gold aims for solid returns from Boomerang as it gears up for drilling

Kula Gold is champing at the bit to get the drill spinning at Boomerang, part of the Marvel Loch project in WA
Approvals are in place and the RC drill rig is mobilising to position
Follow-up geological testing has further defined the gold soil anomaly
Boomerang is near the historical high grade Nevoria (+600,000 ounces gold), 2.4million ounces Marvel Loch (2.4Moz) and Mt Palmer gold mines (+150,000oz)

Special Report: Kula Gold is about to drill its Boomerang prospect, close to historic multimillion ounce Marvel Loch area gold mines in WA. “The best place to discover a gold mine is near the headframe of a gold mine,” it says.

With all required approvals in place, Kula Gold (ASX:KGD) is this week preparing an RC rig for drilling at Boomerang, part of the historical Marvel Loch project near Southern Cross in WA.

And it’s an exciting prospect that’s just had its tyres pumped up a little further courtesy of a follow-up round of geological analysis. Infill UFF soil sampling has now enhanced Boomerang’s gold anomaly to more than 200 metres in length.

Kula’s operating in a proven mining district. Boomerang is one of five gold prospects at the Marvel Loch project, which sits between several gold mines including the historical +600,000oz Nevoria mine and east of Barton Gold’s 3Moz Marvel Loch mine.

In early February, KGD kicked off a program of close-spaced ultrafine soil sampling on a 20m x 20m grid to locate the most favourable drill locations at Boomerang.

The anomaly is now confirmed to be in a magnetic low along a NW 310-330 degree orientation — the optimal configuration as most of the gold deposits in the Southern Cross Goldfields strike in the same direction.

Being 5km from the Marvel Loch gold processing plant and infrastructure, a discovery here would be a huge boost to KGD’s strategy of exploring near to existing operations “to fast track any discovery to monetary success”.

Kula’s Marvel Loch project. Pic: Kula Gold

‘The best place to discover a gold mine’

Regarding the company’s second round of geochemistry analysis at the site, Kula’s MD Ric Dawson noted it has “ tightened up the gold soil anomaly” for the promising target.

“In addition, the current GSWA 1:250,000 geological series map is different to what Kula Gold is now discovering and observing and now opens up major unidentified greenstone units for gold exploration potential in our large over 120km2 landholding,” added Dawson.

The company recently confirmed that the anomaly is a cross cutting NE structure in the vicinity of geochemistry results that contain a historical Kula RC hole that produced a significant result of 1m at 2.6g/t gold at 54m.

“The best place to discover a gold mine is near the headframe of a gold mine,” noted Dawson, referencing the multimillion ounce Marvel Loch area gold mines that make Boomerang such an appealing target.

The Boomerang Gold Prospect with gold UFF soil anomaly and proposed RC drill collars. Pic: Kula Gold

Marvel locked in for further development

Preliminary drill locations for Boomerang have been marked up and the RC rig should be in action within the next few days.

Meanwhile, regarding its other operations in the area, Kula says it’s continuing to further develop existing gold prospects in the Marvel Loch project. Those include the Stingray, Crayfish, Nevoria North and G-Star prospects.

Keep an eye out for results from recent UFF soils programmes (gold and multi-element), says Kula, which should be on their way soon.

This article was developed in collaboration with Kula Gold, a Stockhead advertiser at the time of publishing.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.