@KulaGold ASX Announcement & Media Release Mt Palmer Gold Mine -...

@KulaGold
ASX Announcement & Media Release
Mt Palmer Gold Mine - El Dorado Prospect
historical 6m @ 8.3g/t gold to follow up
Highlights
 Diamond drilling completed 307.4m of HQ3 diamond core with Terra Drilling from two
existing RC drilling pre-collared to approximately 250m each
 Previously announced anomalous RC drilling results have been re-assayed with
Leachwell digestion confirming good recovery characteristics for carbon-in-leach (CIL)
processing
 Three new prospects advanced- including 6m @ 8.3g/t gold from 28m at El Dorado and
1m @ 9.2g/t gold from 36m at Meiers Find
 Mt Palmer Gold Mine is ~15km from the Marvel Loch gold plant and infrastructure, and
~90km from the Edna May gold plant, which aligns with Kula’s strategy of exploring near
to existing operations to fast track any discovery to monetary success
Kula Gold Limited (“Kula” or “the Company” reports an exploration update at the Company’s
51% and earning to 80% Mt Palmer Gold Mine located near Marvel Loch WA in the Southern
Cross Goldfields.
Kula’s Managing Director Ric Dawson comments: “The diamond core had excellent recovery
and will provide excellent structural data for analysis on this exciting high-grade project last
mined in 1944. Following structural analysis, the core will be cut and assayed and results
reported thereafter, which will lead to further drilling as knowledge of the high-grade zones
improves and becomes more predictable. Historic data reviewed by Kula’s technical team
shows solid targets for high-grade gold mineralisation extending below 160m, the past mining
level, shallow by today’s modern operating practices.
Excellent new prospects such as the El Dorado (6m @ 8.3g/t gold from 28m including 1m @
45.4g/t gold from 30m with no follow-up) are being advanced to drill ready status for a
planned RC programme.
This acquisition aligns with the Company’s strategy to explore near to existing operations to
fast track any discovery to monetary success.