Source: The West Australian
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Kula Gold (KGD) identifies a new prospect at its Brunswick Project in Western Australia
  • Results from a soil sampling program identified a new area of interest, dubbed the Hippy Lady Prospect
  • The new prospect is considered prospective for both platinum, palladium, gold and copper mineralisation, as well as Archean greenstone-hosted gold mineralisation
  • An infill soil program is now being planned to further define the extents of anomalism and define a drill target
  • Kula Gold shares are in the grey, trading at 3.7 cents

Kula Gold (KGD) has identified a new prospect at its wholly-owned Brunswick Project in Western Australia.

Results from a soil sampling program identified a new area of interest, dubbed the Hippy Lady Prospect.

The new prospect is considered prospective for both platinum, palladium, gold and copper mineralisation, as well as Archean greenstone-hosted gold mineralisation.

The prospect was defined through 81 soil samples taken from the area which showed an anomalism coincident with a circular magnetic feature of around 400 metres in diameter.

The company said the soil geochemistry suggests the high magnetic response represents an underlying ultramafic unit. This explains the scattered elevated nickel-copper-platinum group element values seen within this trend.

An infill soil program is now being planned to further define the extents of anomalism and define a drill target.

Meanwhile, results from exploration in other areas of the Brunswick project are still pending.

Kula Gold shares were in the grey on the market this afternoon, trading at 3.7 cents at 2:18 pm AEST.

KGD by the numbers
More From The Market Herald
Countplus (ASX:CUP) - Incoming CEO, Hugh Humphrey

" Hugh Humphrey appointed CEO of Countplus (ASX:CUP)

Investment services company CountPlus (ASX:CUP) has appointed Hugh Humphrey as the company's CEO, effective July 1.

" ASX employee tests positive for Covid-19

The ASX says an employee has contracted Covid-19.

" ASIC launches official investigation into ASX market outage

The ASX has confirmed today it is officially under investigation from the Australian Securities and Investments…

" ASX sheds more light on last week’s market tech failure

The Australian Securities Exchange has shed some more light on the nature of last week's market…