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Kula kicks life into Boomerang gold project in WA

Updated: Apr 19


Kula Gold is digging into ultra-fine soil gold geochemistry at Boomerang. Credit: File

Kula Gold says a new satellite interpretation of its Boomerang prospect at Marvel Loch near Southern Cross in Western Australia shows arsenopyrite is associated with a 2021 drill hit that went 1m at 2.6 grams per tonne gold.


The company says the arsenopyrite anomalism at Boomerang is significant as it is a common characteristic of many of the local gold mines and because the single-hole intercept lies on the edge of the principal target zone and the coincidence of structures.


The Marvel Loch project that includes Boomerang lies deep in gold country – north of the 600,000-ounce Nevoria mine, east of the 3-million-ounce Marvel Loch mine and west of the 150,000-ounce Mt Palmer mine.


Importantly, it also lies on the geologically-significant intersection of interpreted north-east and north-west structures where they both cross a distinct arsenopyrite anomaly and arcuate magnetic anomalism. The anomalism reflects the iconic shape that gives the prospect its name.


The company has now kicked off geochemical sampling to follow up on the 2021 gold hit with a high-density 20m-by-20m program of ultrafine soil sampling to home in on its key targets.


The Company’s consultant has been able to interpret satellite imagery over the Boomerang gold prospect and observes that a substantial arsenopyrite mineral group correlation anomaly is coincident with the dislocation magnetic structure and the nearby gold intercept. Historically, the rich Southern Cross Goldfield region has had its gold mineralisation associated with arsenopyrite especially at the Mt Palmer Gold Mine to the east and has produced over 150,000oz of gold, at an average grade of 15g/t. Kula Gold managing director Ric Dawson

The company’s new sampling program has been partly prompted by the 200m-by-200m reverse-circulation (RC) resource drilling of its 93.3-million-tonne Boomerang kaolin project in November 2021 that jagged the gold hit. It says the intercept was picked up near the bottom of the hole at the amphibolite interface.


Meanwhile, Kula’s recently-completed geophysics and satellite imagery interpretation highlighted the distinctive offset structures in the magnetics. It says its Sentinel-2 satellite-borne remote sensing added the arsenopyrite anomaly.


A quote originating from the nearby Mount Palmer gold mine is relevant when considering management’s latest interpretation – “Milky coloured quartz reefs at Palmer’s tend to be barren, while gold can be found in sugary quartz, vitreous quartz and associated with arsenopyrite.”


Kula says it is continuing to further develop its other gold prospects including Stingray, 311, Nevoria North and G-Star.


The company has several historic runs on the board from an eclectic assortment of projects, including its Boomerang kaolin deposit for which a maiden resource was announced in mid-2022. The project has moved to the economic study phase and is moving towards private equity funding or a joint venture.


Kula was founded on its 1-million-ounce Woodlark Island gold discovery that was later sold to Geopacific Resources. Other projects include a suite of gold projects from Westonia east to Rankin Dome, further east to Southern Cross and south from there to Marvel Loch and then to the Split Rocks and Mt Holland lithium plays.


Going by its history, Kula looks sure to keep all these pots on the boil and patiently develop them to fruition.


Is your ASX-listed company doing something interesting? Contact: office@bullsnbears.com.au

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