A Kula Gold sampling program near the historic Western Australian town of Southern Cross has thrown up two new gold prospects – Stingray and Boomerang – both within shouting distance of the 3-million-ounce Marvel Loch mine.
Visible on magnetic data, the new Australiana-themed prospects within the company’s 100 per cent-owned Marvel Loch project have undergone testing, with tantalising gold sniffs leading management to make plans to revisit the ground to drill.
Kula says the Stingray prospect has been defined by soil sampling hits for gold coincident with a circular-like feature visible on magnetic data about 2 to 3km in length and 1km wide. Management says the best hits were 56.7 parts per billion, 49.9ppb and 42.3ppb, with 10 of the samples going more than 25ppb gold.
The program covered only a small portion of the magnetic anomaly with two sampling lines – one oriented north-south and the other east-west – leaving plenty of the structure untested. Kula plans to soon be back on the ground at Stingray to conduct a more extensive follow-up soil sampling program, with the aim of refining drill targets ahead of a scout reverse-circulation (RC) drilling program.
The company says Stingray may be comprised of amphibolite and banded iron formation greenstone rock types similar to those encountered by RC drilling at its Crayfish deposit nearby in the same tenement. Encouragingly, it is the rock type that hosts most of WA’s known gold deposits.
The Company is excited to be exploring the historically rich Southern Cross Goldfield region, which has produced over 15Moz of gold, at an average of 3-5g/t. A very large magnetic circular feature had provided the Kula team with a concept for an initial UFF soil program, which provided a surprise gold anomaly at the now named Stingray Gold Prospect. Kula Gold managing director Ric Dawson.
Within the same tenement as Stingray, Kula has also drilled a series of RC holes at its Boomerang prospect on a 200m-by-200m grid in the search for kaolin, with one hole returning a hit for gold going 1m at 2.6 grams per tonne from 54m. The company says further soil sampling is planned at the prospect ahead of more drilling.
Boomerang has a kaolin mineral resource of 93.3 million tonnes.
Kula is also working up three more gold prospects – 311, Nevoria North and G-Star – all within the same tenement as the Stingray and Boomerang prospects and in ground neighboured by some serious gold deposits.
As well as the mammoth Marvel Loch gold mine that sits only about 2km west of Kula’s tenement boundary, the Nevoria gold deposit boasts more than 600,000 ounces of gold, just 1km to the south of the company’s ground. And about 10km to the south-east, the Yilgarn Star gold deposit boasts about 2 million ounces of the yellow metal.
The Marvel Loch project area is about 30km from the Southern Cross township – which was gazetted in 1890, some three years after prospectors Richard Greaves and Ted Paine found gold there during a 1887 expedition. Marvel Loch is named after the winner of the 1905 Caulfield Cup.
Now with its Aussie-themed naming convention, Kula will be using the drill bit to truth-test those soil and geophysical anomalies to see just how much sting is in the tail at Stingray, while also seeing what Boomerang may be able to return.
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