Join our daily newsletter At The Bell to receive exclusive market insights
Kula Gold (ASX:KGD) has picked up a high-grade assay grading 4.3 grams per tonne of gold through its early-stage exploration of the Mustang prospect.
Listen to the HotCopper podcast for in-depth discussions and insights on all the biggest headlines from throughout the week. On Spotify, Apple, and more.
The company has been progressing with mapping, soil sampling, and rock-chipping programs at the Western Australia prospect, which is located near Kirup and 110 kilometres southwest of the Boddington gold mine.
The intercept in question was found 200 metres along the strike from where reverse circulation drilling work had picked up two metres at 2.3g/t gold from 34 metres. The latter work was testing an 800-metre soil anomaly; what it revealed was an entirely new gold system at the site.
“Kula is pleased to report ongoing positive results from this completely new gold system where no prior gold exploration has ever been conducted,” managing director Ric Dawson said, adding there’s still plenty to be done.
“A key to exploration success is being the first, or very early, into a new exploration search
space,” Mr Dawson then added.
More market news
Never-ending: And just like that, Trump’s tariffs are back causing more market chaos
Meet GeoGeorge: The HotCopper poster so accurate he got hired as an analyst
The Kula boss concluded: “The first movers will likely get a very disproportionate share of the metal there to be discovered.”
Funding for the previous drilling was provided by the WA Gov’t’s Exploration Incentive Scheme, which will also be supporting Kula’s next drilling.
Kula shares last traded at 0.6 cents – a fall of 14.29% since market open.
Join the discussion: See what HotCopper users are saying about Kula Gold and be part of the conversations that move the markets.
The material provided in this article is for information only and should not be treated as investment advice. Viewers are encouraged to conduct their own research and consult with a certified financial advisor before making any investment decisions. For full disclaimer information, please click here.
