Kula Gold (ASX:KGD) - Chairman, Mark Stowell
Chairman, Mark Stowell
Source: Kula Gold
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  • Kula Gold (KGD) encounters rare earth elements (REEs) at its Rankin Dome Project within the Southern Cross Region of Western Australia
  • A phase two sampling program was undertaken to further test the low-level lithium and gold anomalism identified in the phase one program
  • Two samples returned over 1000 parts per million (ppm) total REEs while a further 17 returned over 450ppm REEs
  • Sampling to date has confirmed the presence of lithium co-incident with a northwest-trending low magnetic response rock unit
  • Shares in Kula are up 5.71 per cent and are trading at 3.7 cents

Kula Gold (KGD) has encountered rare earth elements (REEs) at its Rankin Dome Project within the Southern Cross Region of Western Australia.

A phase two sampling program was undertaken to further test the low-level lithium and gold anomalism identified in the phase one program.

Results from the phase one program are inconclusive at this moment and further work may be undertaken in conjunction with REE exploration.

Under the phase two program, samples were analysed for a range of elements with results identifying elevated REEs from two potential host structures.

Two samples returned over 1000 parts per million (ppm) total REEs while a further 17 returned over 450ppm REEs.

Sampling to date has confirmed the presence of lithium co-incident with a northwest-trending low magnetic response rock unit.

Samples from the phase one work have been sent to the laboratory for multi-element analysis to provide a more thorough picture of the anomalism and move the Rankin Dome Project towards drill target definition.

Shares in Kula were up 5.71 per cent on the market and were trading at 3.7 cents at 12:41 pm AEST.

KGD by the numbers
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