Kula Gold Limited (ASX: KGD) Gold Exploration Update
Exploration Progress
Kula Gold Limited (ASX: KGD) reports significant advancements in its exploration activities at the Mt Palmer Gold Mine, located in Western Australia’s Southern Cross Goldfields. The company identified multiple shallow gold prospects that bolster its position for resource drilling scheduled for the first quarter of 2025. Notable intersections include 4m at 3.02g/t gold, 7m at 3g/t gold, and high-grade encounters of 6m at 8.3g/t gold across several targets, including Bryant and El Dorado.
Operational Highlights
Kula’s entire 10km greenstone belt is under its ownership, and new targets are being generated to enhance exploration potential. Managing Director Ric Dawson stated, “Amidst a robust global gold market, Kula is advancing its high-grade gold assets towards maiden resources along the Mt Palmer greenstone belt.” The progress solidifies Kula’s strategy to leverage its substantial land position and geological expertise in a region known for significant gold deposits.
Future Outlook
Further shallow drilling will commence this quarter as Kula aims to establish maiden resources and expand its portfolio. The company’s exploration efforts at Mount Palmer are expected to provide continued updates on its drilling programs across various high-priority regional targets.
Motley Fool contributor Lianne Eastty has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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