Latest news with #Kula
West Australian
3 days ago
- Business
- West Australian
Kula/Aurumin JV reports 98,500t maiden gold resource in WA Goldfields
Kula Gold and Aurumin Limited have reported a maiden JORC-compliant inferred resource of 98,534 tonnes of old mine tailings grading 0.63 grams per tonne (g/t) gold at the joint venture's Mt Palmer gold mine in Western Australia's Southern Cross greenstone belt. The inferred resource, defined by 60 air core drill holes, contains 1996 ounces of gold at a 0.4g/t cut-off, with preliminary metallurgical testwork showing an average 86 per cent gold recovery rate. Dawson said Mt Palmer's bigger picture was painted by high grades intersected at shallow depths in the adjacent historic mine, where the company is moving towards diamond drilling and then resource definition. The tails resource lies within the joint-venture's granted mining lease, which was drilled by a Challenger RA-150 air core rig using a 3.5-inch face sampling hammer. Kula believes the hole-spacing adequately tests the tailings' lateral and depth extent, with collar locations surveyed to millimetre-level accuracy by a survey standard GPS. Samples were collected from 0.5-metre to 4m depth intervals - mostly at 1m – and were weighed at the rig, split via a cone splitter and assayed using Intertek's Photon method. Duplicates and standards were inserted at a 1:40 ratio, with minimal contamination risks, as the samples were dry. Dry bulk densities were measured from six trench and core samples, averaging 1.35 grams per cubic centimetre. The metallurgical testwork employed Intertek's Leachwell cyanide extraction on seven drill samples and reported gold recoveries between 60 per cent and 100 per cent, with an average of 86 per cent. One sample reported a 107.2 per cent recovery rate due to assay variability between the leach and original samples. The resource was computer-modelled using a 3D wireframe based on geological logging and assay data and was classified as inferred due to the current drill density and geological continuity. A 0.4g/t gold cut-off grade was established, based on the prevailing economic factors. The surface-stockpiled tailings, which are already pulverised and easily mined, offer Kula a low-cost opportunity for early monetisation. The Marvel Loch gold plant, 28 kilometres away, could be a processing option. Kula is already looking at extending its drilling program to include other untested parts of the tailings repository and will include a few more infill holes to sharpen up the entire model, if possible lift the resource classification to indicated, and further build the resource. Kula holds an 80 per cent stake in the joint venture. Under the terms of their agreement, Aurumin is now diluting its 20 per cent JV interest. With the gold price at about $5200 per ounce, the current tailings resource would have an unprocessed, at-surface value of more than $10 million. Combined with the tailings' high metallurgical recoveries and simple, short-range mining, transport and processing, the tails could significantly enhance the venture's value. Kula is now planning a diamond drilling program to develop its main focus on the hard-rock component at the Mt Palmer mine, where shallow high-grade intercepts indicate significant additional potential. Meanwhile, the tailings could be a timely and profitable stepping stone towards broader project development. Is your ASX-listed company doing something interesting? Contact:
West Australian
22-07-2025
- Business
- West Australian
WA Mt Palmer mine shines for Kula, Aurumin with one-ounce gold hits
Kula Gold and Aurumin Limited have continued to resurrect a forgotten gem in Western Australia's Southern Cross Goldfields after hauling in another series of dazzling drill hits at the historic Mt Palmer mine. The share price of Kula, which owns 80 per cent of the project, rocketed nearly 30 per cent to 0.009 cents on the back of the blockbuster drill results. The rise was fuelled by a surge of investor interest that saw close to 25 million shares change hands on the company's biggest trading day in a month. The latest stage two reverse circulation drilling campaign delivered some serious eye candy for gold bugs, with a standout shallow intercept of 3 metres at 35.9 grams per tonne (g/t) gold from just 17m, including 1m at a whopping 83.6g/t. Other hits include 3m grading 29.7g/t gold from 37m, 2m at 18.1g/t gold from 23m and 18m at 1.9g/t gold from 22m, including a 7m section running at 9.4g/t. The company says the sizzling grades - many from depths of less than 40m - and Mt Palmer's strong geological fundamentals are building an early case for a low-cost, high-return open-pit operation at the site. According to management, the results are also just the tonic to support aggressive ongoing exploration efforts to delineate the longer-term development potential of a mine that once produced 150,000 ounces at 15.9g/t before World War II halted production. Notably, the company believes that using a photon assay could be the secret to uncovering nuggety historically under-reported high-grade zones at the project. The game-changing technique can analyse 10 times more samples than traditional fire assay without destroying coarse gold in the process. Across the project, the results are stacking up. Previous hits include 18m at 4.4g/t from surface, with a 2m punch of 31.3g/t, and 7m at 7.7g/t gold also starting from surface. Kula says beyond the spectacular grades, the geological stars are also starting to align. Drilling has tapped into high-grade mineralisation, dubbed the New Lode beneath historic workings, where rich gold appears to be concentrated in fold closures. These can be classic structural traps for juicy mineralisation. New zones to the east of the old pit, such as the West Lode and Busey Shoot, are also emerging to offer a pipeline of fresh targets. The company says these lodes remain poorly tested, but early drilling hints at a solid upside. Kula's structural consultant Model Earth has now remapped the mine's intricate geology, revealing stretched and shear-folded quartz veins broken into segments, which vary significantly between each hotspot but appear to control the plunge orientations of the gold mineralisation. Mt Palmer sits in gold-rich real estate, a little north of the previously mined 600,000-ounce Nevoria gold deposit and east of the Chinese-owned 2.4-million-ounce Marvel Loch mine. With its latest results now in hand, Kula is busy putting the finishing touches on a diamond drilling campaign aimed at twinning high-grade reverse circulation intercepts to firm up structural models and refine future drill targeting. If these results keep coming, helped along with a healthy dose of modern assay technology, Kula might be on to more than a few lost ounces. From a dusty relic of WA's mining past, Mt Palmer is starting to look more like a golden opportunity in the making. Is your ASX-listed company doing something interesting? Contact:
West Australian
21-07-2025
- Business
- West Australian
Kula Gold kicks off low-cost niobium exploration in Malawi
Kula Gold has kicked off the company's first exploration program at its Wozi niobium project in Malawi to confirm historical trenching results and expand sampling across its 5.52 square kilometre exploration licence. The company is aiming for a low-cost, high-impact campaign focusing on niobium and tantalum mineralisation hosted in near-surface pyrochlore mineralisation within a nepheline syenite intrusive stock. Pyrochlore, which is found in alkaline igneous rocks as well as granitic pegmatites and greisens, is known for its resistance to weathering and is often found in alluvial deposits. Kula's exploration campaign will include field mapping as well as rock chip and soil sampling to outline the project's large-scale potential, paving the way for a maiden drilling program in the December quarter. While the Wozi niobium project will advance Kula's critical minerals strategy, the company's Mt Palmer gold project remains its flagship asset. The Wozi project lies within the Mozambique orogenic belt of the extensive Malawi rift valley system and targets a nepheline syenite stock intruded into Precambrian metasedimentary rocks, primarily a hornblende-biotite-garnet gneiss. Historical trenching by Mantra Resources Limited in 2007–2008 revealed significant niobium mineralisation, with results including 145 metres assaying 0.55 per cent niobium pentoxide and 119 parts per million tantalum pentoxide as well as 41m at 0.54 per cent niobium pentoxide and 122ppm tantalum pentoxide in one trenched area. A second trench by Mantra identified 192m at 0.49 per cent niobium pentoxide and 158ppm tantalum pentoxide. Those wide zones, particularly at the company's 800m x 300m Anomaly C area, remain open and untested by drilling, offering prime targets for potential large-tonnage niobium resources. Kula's current program will resample old trenches to validate results under more modern 2012 JORC standards. While Kula considers the historical data to be reliable, the company has not independently verified it. Kula's recently acquired exploration licence positions the company to capitalise on the project's strategic location and infrastructure. Malawi is a nation with a stable B credit rating and several established mining operations. The Wozi project is 2 kilometres from the country's M1 highway and has easy access to the capital, Lilongwe, and the Nacala rail corridor, facilitating cost-effective logistics and potential export routes via the Indian Ocean. The absence of historical drilling underscores the project's untapped potential, with the core niobium anomaly remaining open to the north and across strike. Kula is also evaluating additional tenure to expand the project's footprint. This maiden field program marks a critical step towards defining a maiden resource for niobium and tantalum, which are both key minerals used in e-technology and renewable energy applications. The company is planning an initial low-cost exploration strategy that can leverage the near-surface mineralisation and historical data to fast-track early progress. Kula expects to complete its ground-truthing results, undertake further sampling and finalise its drilling plans in the coming quarters, while building its focus on environmental matters and community engagement in Malawi. Is your ASX-listed company doing something interesting? Contact:
West Australian
04-07-2025
- Business
- West Australian
Kula granted critical minerals niobium project in Malawi
Kula Gold has taken a major step into the booming critical minerals sector after securing its exploration licence for the Wozi niobium project in Malawi, marking a strategic pivot towards a commodity class crucial to green technologies while maintaining a strong gold exploration footing in Western Australia. The company today announced it had received formal approval from Malawi's Mining and Minerals Regulatory Authority for its Wozi niobium project, with historical trenching at the project returning remarkable intercepts, such as 145 metres grading 0.55 per cent niobium pentoxide with associated tantalum and another 192m at 0.49 per cent niobium pentoxide. Kula says the mineralisation starts at surface and coincides with wide zones of niobium and tantalum enrichment over an 800m by 300m soil anomaly, providing large-scale potential for a critical mineral widely used in advanced alloys and electric vehicle components. Managing director Ric Dawson described the grant as a pivotal milestone, highlighting the low-cost, high-impact nature of the opportunity and its strategic fit with global supply chains increasingly hungry for secure niobium supply. The company plans to commence mapping, soil and rock chip sampling before launching a first drill campaign targeting a maiden resource by late this year. Kula notes its Wozi project sits within the geologically fertile Mozambique Orogenic Belt, part of the greater East African Rift Valley System. Despite the project's compelling historical trench results, it has seen no historical drilling, placing Kula in the rare position of having a first mover advantage in a region with excellent road infrastructure for low-cost exploration and development. While niobium steals the spotlight today, Kula's flagship asset remains its Mt Palmer gold project near Southern Cross in WA's Western Goldfields, where successive drilling programs have delivered multiple high-grade hits. Results from recent drilling include standout intercepts such as 20m at 7.5 grams per tonne (g/t) gold from 22m, including 6m going an imposing 23.8g/t, and 9m grading 13.6g/t from 33m, including 3m at 38.4g/t. The company says these shallow, high-grade zones point to early potential for low-cost open-pit mining. Additional stage two reverse circulation drilling at Mt Palmer has produced further impressive assays, including 18m at 4.7g/t gold with an individual 2m interval running up to 31.3g/t, effectively an ounce per tonne. These high-grade zones are distributed across multiple new mineralised structures, including the New Lode and Busey Shoot, with ongoing drilling designed to convert these discoveries into a resource estimate. Kula has also been busy advancing its Mustang gold prospect at its Kirup project in WA's South West, where it made the first drill hole into a previously untested soil anomaly supported by the WA Government's Exploration Incentive Scheme. That hole intersected 2m at 2.3g/t gold from 34m, while rock chips along strike have returned up to 4.8g/t, adding weight to the potential of a new gold system. The company plans additional closely spaced magnetics and reverse circulation drilling to build on this emerging discovery. Adding to its impressive WA portfolio, Kula's Boomerang kaolin deposit near Southern Cross hosts a 93.3-million-tonne maiden resource of kaolin clay announced in mid-2022, which is now advancing through economic studies and moving towards potential joint venture or private equity funding. The company's quarterly activities report also highlighted Kula's strengthened balance sheet after raising $1.39 million through an entitlement offer, ensuring it remains well-funded to continue advancing both its WA and Malawi assets. Further, Kula has met its expenditure requirements to earn an 80 per cent interest in Mt Palmer, confirming its control over this high-grade gold belt. As the gold price continues to hover above $5000 an ounce, Kula's dual-pronged strategy of pursuing both traditional precious metal exploration and exposure to critical minerals, such as niobium, puts the company in a rare position to capitalise on both ends of the resource sector spectrum. With aggressive exploration plans across multiple projects in WA and now Malawi, Kula is setting a cracking pace in its quest to unearth the next big discovery - whether it be sparkling gold or metals critical to a low-carbon future. Is your ASX-listed company doing something interesting? Contact:
West Australian
23-06-2025
- Business
- West Australian
Kula, Aurumin buoyed by up to 1-ounce-per-tonne WA drilling results
Kula Gold has nailed good gold in recent 1-metre re-assays of 3m composite results the company received two months ago from its joint venture Mt Palmer gold project, near Southern Cross. A best updated hit of 18m at 4.4 grams per tonne (g/t) gold from surface includes 2m assaying 32.3g/t gold from 15m. The original intercept, based on 3m composite sampling, delivered a best result of 18m at 4.7g/t gold from surface, including 3m at 23.4g/t gold. The re-assaying relates to April results from Kula Gold's Mt Palmer gold project, which Kula owns in an 80:20 joint venture with fellow ASX-listed explorer Aurumin Limited. The second-best intercept produced from the 1m re-assays delivered 7m going 7.7g/t gold from surface, including 3m running 17.2g/t gold from 3m. The original 3m composite sampling analysis last April delivered 6m at 8.1g/t gold from surface, including 3m at 15.3g/t gold, which also points to a fair representivity of the faster composite sampling approach for reconnaissance. A third-best 3m composite gave up 12m at 2.3g/t gold from 15m, which included 6m assaying 3.5g/t gold. The 1m re-assay produced 4m at 1.4g/t gold from 15m and 7m at 3.5g/t gold from 20m. Explorers often undertake composite sampling to speed up drilling programs, reduce consumable use and reduce assay costs, especially where knowledge of the environment being drilled is uncertain. If an explorer gets the feeling from initial results that it is 'in the zone', it may dispense with the composite analyses and go straight to smaller sample intervals, which are typically 1m in Australian mineral exploration. Comparing Kula's 3m composites and later 1m re-assays suggests the 3m composites are fairly representative of mineralisation for scout drilling. Overall, the original drilling came up with a bunch of solid gold intercepts, which reinforce Kula's view of Mt Palmer's potential to come up with the goods. Which made it logical for Kula to examine the distribution of gold mineralisation and pick out localised signs of grade enhancement, especially within or near known structural influences. A sniff of mineralisation showing up in a composite almost always needs to be revisited to better resolve what is going on, and the longer the composite run is, the more this observation applies. The shallow depth results so far show early potential for low-cost open-pit mining, which could change depending on the drilling in progress, as well as its orebody wireframing, modelling and economic studies. Kula is continuing with its analytical program on selected 1m splits, while stage two drilling is underway. The company is leaning toward non-destructive photon analysis as its preferred assay method, as it offers a bigger and more representative sample size. Photon assay is used for rapid, non-destructive analysis of gold, silver and other elements in geological and process samples. The technology is capable of faster, more environmentally friendly analysis than traditional fire assay and is often used for high-grade and/or coarse gold, which can be difficult to accurately interpret due to the 'nugget effect'. The new method is non-destructive, which means a sample can be re-used for repeat or alternative analyses and other investigations, such as multi-element work and metallurgy. Kula already sees benefits from using the new method, particularly when close-spaced drill holes return wildly differing gold grades from the same zone or when a hole analysed by fire assay misses what later turns out to be significant gold. The old Mt Palmer mine produced more than 150,000 ounces at 15.9g/t gold from 1934 to 1944. It closed partly due to labour and materials shortages during World War II, became flooded and was never reopened. The old show has seen little systematic exploration since then, until Kula reopened it and launched a more concerted investigation, invigorated by the buoyant gold price. Is your ASX-listed company doing something interesting? Contact:
