Kula Gold (ASX:KGD) has defined a new gold anomaly at its wholly owned Marvel Loch Project in Western Australia, following the completion of geochemical sampling activities.
Located near Southern Cross, the project sits north of the 600,000-ounce Nevoria Gold Mine, and east of the 2.4-million-ounce Marvel Loch Gold Mine.
Over the course of the geochemical program, Kula conducted ultra-fine fraction sampling on a 20m-by-20m grid. The results now show a lithological anomaly in, and adjacent to the western limb of, the project’s Boomerang prospect.
Kula says the anomaly can be interpreted as a mafic/ultramafic unit due to the high magnesium and iron concentrations, which can be confirmed through reverse circulation drilling and microscope thin section analysis.
Ultramafic igneous rocks are characterised by their low silica content — usually less than 45% — and high magnesium content. Mafic rocks, on the other hand, are a group of rocks characterised by their dark colour, high magnesium and iron content, and dominance of specific silicate minerals.
“This is a very promising target in a proven mining district, so Kula has a rig on standby, preliminary drill locations have been marked, awaiting detailed geochemistry results to refine the drill locations and commence drill testing over the next few weeks,” Managing Director Ric Dawson says.
“Current GSWA 1:250,000 mapping in this region is different to what Kula is now discovering and observing, and this now opens up major gold exploration potential in our large unexplored landholding.”
The Boomerang prospect is located 5km from the Marvel Loch gold plant, Which Kula says aligns with its strategy of exploring near existing operations to fast-track the potential of ‘monetary success’.
Write to Oliver Gray at Mining.com.au
Images: Kula Gold
