Kula Gold (ASX:KGD) Nears Completion of Fieldwork on Boomerang Prospect – The Market Herald

Subscribe

Be the first with news that moves the market

  • Kula Gold (KGD) completes diamond drilling on its Boomerang Kaolin prospect ahead of an initial mineral resource estimate
  • This work is the last planned fieldwork on the prospect which is located in the Marvel Lock – Airfield project near Southern Cross in Western Australia.
  • From reverse circulation drilling, Kula identified white kaolin clays with an average vertical thickness of 29 meters, intercepted approximately 5.7 meters below surface.
  • Now Sedgman has been appointed to perform the core metallurgical testing and Hyland Geological and Mining Consultants will perform the resource estimate.
  • At market close, shares are trading down 2.13% to 4.6 cents

Kula Gold (KGD) is nearing completion of the ongoing diamond drilling program at its Boomerang Kaolin prospect in the Marvel Loch – Airfield project near Southern Cross, Western Australia.

Work is nearing completion as part of a preliminary resource estimate and follows reverse circulation drilling completed earlier this year.

Kula identified white kaolin clays with an average vertical thickness of 29 meters,
intercepted about 5.7 meters below the surface.

The company is also evaluating the gold potential of the project, with drilling carried out below the kaolin horizon in saproc or fresh rock.

Drilling is expected to be completed this week and the company has appointed mineral processor Sedgman to handle metallurgical testing of the core.

Once all data was received, Hyland Geological and Mining Consultants was contracted to perform the resource estimate.

Kula began business planning, including evaluating a variety of products that could be produced.

At market close, the shares were down 2.13%, trading at 4.6 cents.

Comments are closed.