Kula Gold pops up with exciting new prospects at its Marvel Loch project
Special Report: Geochemical sampling and geophysical interpretation has identified two new promising gold prospects at Kula Gold’s Marvel Loch project near Southern Cross, WA.
Kula Gold (ASX:KGD) says these prospects are north of the historical >600,000oz Nevoria gold mine and east of Minjar Gold’s 3Moz Marvel Loch gold mine.
The prospect was derived from a small, low cost, initial UFF soil sample programme over a circular magnetic feature.
This outlined a coincident anomalous gold in magnetic structure around and through the Stingray gold prospect.
KGD says the size is ~2-3km in length and will now infill this prospect with a more extensive UFF program to hopefully refine drill targets.
Should UFF assay results return sufficient data to define drill targets, a RC rig will be mobilised to site.
RC drilling in November 2021 – predominantly focused on drilling out a kaolin resource – returned an anomalous 1m @ 2.6g/t gold from 54m intercept.
Recently completed geophysics showed a distinctive offset structure in the magnetics is significant and the aforementioned gold intercept sits on the edge of the key target zone.
The intercept also occurred at the amphibolite interface near the bottom of hole.
KGD will soon begin a close-spaced UFF programme drill intercepts programme to advance drill targets.
Work is continuing on the existing gold prospects of 311, Nevoria North and G-Star.
KGD MD Ric Dawson says the company is excited to be exploring the historically rich Southern Cross goldfield where >15Moz of gold averaging 3-5g/t has historically been produced.
“Following recent geochemical sampling results, we’re going to be focusing on the Boomerang and Stingray gold prospects with follow up at the Nevoria North, G-Star and 311 prospects,” he says.
“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.”
Results from geochemical assays (gold and multi-element) will be reported in due course.
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.