Kula Gold (ASX:KGD) has completed the maiden Mineral Resource Estimate (MRE) for the Boomerang Kaolin Deposit near Marvel Loch/Southern Cross in Western Australia.
Kula reports the 2012 JORC-compliant resource was independently certified by Sedgman and verified a total resource of 93.3 million tonnes of kaolinised granite, which is made up of an Indicated resource of 15.2Mt and an Inferred resource of 78.1Mt.
The orebody is open laterally in all directions, the company said.
Kula’s share price was up more than 9.6% as of 9.30am AWST.
The Boomerang Kaolin Deposit, which was first discovered in July 2021, has had a comprehensive drill program, and within 12 months Kula has converted a discovery drillhole to a maiden resource of scale.
Kula reports that this has been completed on a capex of just $1.2 million.
Study work to date suggests that the Boomerang Kaolin mineralisation supports the development of a shallow open-pit long life mine, combined with industry-standard processing technology.
The deposit remains open laterally in all directions and logistics are exceptional, as indicated below, being a tar road through the tenement within 4km of the deposit, and the Marvel Loch townsite 5km, and rail siding at Southern Cross 43km.
Commercialisation studies on the Boomerang Kaolinite Project have identified and advanced metakaolin production for the green construction industry
Commercialisation studies on the Boomerang Kaolinite Project have identified and advanced metakaolin production for the green construction industry.
A new wholly owned subsidiary Boomerang Kaolin Pty Ltd has now been incorporated.
The use of metakaolin as a replacement for about 15% of cement in concrete production has many benefits. For every residential house built using 100t of concrete, there is a reduction of 8t in carbon dioxide (CO2) emissions.
In addition, Kula reports that it will see improvements to many concrete properties, such as increased “early” and “cured” strength, increased flexural strength, increased concrete density, reduced porosity (which leads to a lower temperature during hydration and therefore, less shrinkage and cracking), less permeability (which leads to reduced risk of concrete cancer) and greater durability, all for nominal additional cost.
