Rat's Rant 03/02/22
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KGD - Kula Gold Limited today closed up 14% to finish at 4.8c on $1.7m stock traded. The reason they were up today was because they announced auger drilling had identified an anomalous lithium cluster at its Rankin Dome project located in WA.
KGD's Rankin Dome tenement is located approximately 130km NW of the world class Mt Holland Lithium mine in the same terrain of the Yilgarn Province.
Follow up auger geochemistry sampling has now been completed by the same Sahara rig as used in the initial program, other areas of the tenement have also been tested, including for gold.
Some details on today's news are listed below:
Auger drilling at Southern Cross Region-Rankin Dome Project Identifies Anomalous Lithium Results
Highlights:
- First round auger geochemical sampling program was completed at the Rankin Dome project
- Lithium cluster co-incident with magnetic feature over initial 1.5km extent has been followed up by an infill auger program which has now been completed
- Southern Cross tenement package covers 1,213km², all now considered prospective for lithium in addition to gold, base metals, and kaolin
Kula Gold Limited reports results from a first pass auger geochemistry program at its 100% owned Rankin Dome project in the Southern Cross region shows an anomalous lithium cluster co-incident with the NW trending magnetic structure.
Kula’s Rankin Dome tenement (the project) is located approximately 130km NW of the world class Mt Holland Lithium mine in the same terrain of the Yilgarn Province.
Mt Holland’s under development by a joint venture between subsidiaries of Sociedad Química y Minera de Chile S.A. (SQM) and Wesfarmers Limited to develop and operate the Mount Holland Lithium Project, which will be a unique, fully integrated producer of battery quality lithium hydroxide in Western Australia.
Follow up auger geochemistry sampling has now been completed by the same Sahara rig as used in the initial program.
Other areas of the tenement have also been tested, including for gold, which were under crop at the time of the initial drilling.
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