Kula Gold (ASX:KGD) has delivered a maiden inferred resource estimate, totalling 98,534 tonnes @ 0.63 grams per tonne gold, for the Mt Palmer Mine in Western Australia.
The Mt Palmer Gold Mine tailings were reassessed in recent drilling with 60 vertical aircore drillholes testing the tailings dump. The gold mineralisation zone was defined as a 3D wireframe based on drillhole logging and gold analytical assay which further helped define the characteristics of the gold mineralisation zones.
Managing Director Ric Dawson says there is additional tailings tonnage undergoing further testwork which once completed, will add to the resource in the short-term.
“The bigger picture at Mt Palmer is the high-grades being intersected at shallow depths and moving towards diamond drilling then resource definition,” Dawson says.
“Processing options for the on-surface tailings resource are now being evaluated.”
Mt Palmer’s resource is 28km from the Marvel Lock gold plant which is a potential option for early monetisation.
Kula Gold acquired the historical Mt Palmer Mine in June 2024. The mine was last commercially mined in 1944 down to the sixth level at 15.9g/t gold.
Kula Gold is a mineral explorer focused on its key precious metals projects in the Southern Cross Region and in Western Australia.
Write to Aaliyah Rogan at Mining.com.au
Images: Kula Gold
