- Kula Gold (KGD) makes a “major technical breakthrough” at Airfield Gold Project in Western Australia
- The company conducted reverse circulation (RC) and aircore drilling to follow up on historical results
- This has led to discovering amphibolite/banded iron formation (BIF) (greenstone) belts that have never been recognised or mapped
- Kula Gold plans to follow up on these findings with additional drilling and will also resample some of the RC drill core to one-metre samples
- Company shares are down 4.55 per cent to trade at 4.2 cents
Kula Gold (KGD) has discovered amphibolite/banded iron formation (BIF) (greenstone) belts in the Airfield Gold Project.
This project forms part of the company’s broader Southern Cross Project in Western Australia.
Kula described this discovery as a “major technical breakthrough” due to the fact these greenstone belts were previously unmapped nor recognised.
The discovery was made through a 23-hole reverse circulation (RC) and four-hole aircore drilling program that aimed to follow up on historical gold-in-soil anomalies that were identified within the Ghooli Dome.
Positively, the company recognised a geophysical signature associated with the results and identified multiple repeats of similar greenstone prospects in the region. Due to this, Kula has applied for new applications within the Airfield Gold Project.
Kula Gold plans to follow up on these findings with additional drilling. It will also resample some of the RC drill core to one-metre samples and conduct diamond drilling to provide orientation data and geotechnical information.
Company shares were down 4.55 per cent to trade at 4.2 cents at 2:27 pm AEST.