HIGH-GRADE SHALLOW GOLD HITS CONTINUE AT MT PALMER

Kula reports strong RC drilling results, including standout grades up to 38.4g/t gold

Kula Gold Limited (Kula Gold) (ASX:KGD) has reported further high-grade shallow gold results from Stage 2 reverse circulation (RC) drilling at its 80%-owned Mt Palmer Gold Project in Western Australia’s Southern Cross Goldfields. The project is operated in joint venture with Aurumin Limited (20%).

Recent highlights from the drilling campaign include:

9m @ 13.6g/t gold from 33m, including 3m @ 38.4g/t gold (25MPRC0018)
20m @ 7.5g/t gold from 22m, including 6m @ 23.8g/t gold (25MPRC0017)
3m @ 33.6g/t gold from 18m (25MPRC0035)
9m @ 4.2g/t gold from 18m, including 6m @ 6.0g/t gold (25MPRC0032)
3m @ 11.4g/t gold from 48m (25MPRC0023)

These results build upon earlier strong intercepts, such as:

18m @ 4.7g/t gold from surface, including 3m @ 23.4g/t gold (25MPRC0012)
6m @ 8.1g/t gold from surface, including 3m @ 15.3g/t gold (25MPRC0007)

Kula also noted that north-south trending mineralised structures have now been intersected, with multiple targets along the 10km belt within the Mt Palmer JV. Additionally, resource definition work on the project’s historic tailings is expected to conclude in early Q3.

The Mt Palmer site lies 28km from the Marvel Loch gold mine and has a significant production history dating back to 1939–1944, before its closure during wartime due to supply and labour shortages.

Kula’s Managing Director Ric Dawson commented:

These new high-grade results from Kula’s Mt Palmer Gold Project are confirming that there is a lot more to find here. The numerous shallow plus half an ounce (+15g/t) of gold per tonne results are demonstrating the quality of this emerging project and bodes well for our team to be able to value add very quickly.