Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Kula Gold (KGD) reports high quality kaolin results following drilling at the Boomerang prospect in Western Australia
  • The company completed reverse circulation and diamond drilling programs across the area, within the Marvel Loch-Airfield Project near Southern Cross
  • Drilling returned high quality, low impurity kaolin, with thicknesses of up to 57 metres in vertical depth
  • Meanwhile, an independent resource estimate is being prepared by contractors, and commercialisation studies have begun
  • Kula Gold shares climb 4 per cent, trading at 2.6 cents at 12:56 pm AEST

Kula Gold (KGD) has reported high quality kaolin results following drilling at the Boomerang prospect, within its Marvel Loch-Airfield Project near Southern Cross, in Western Australia.

The company completed reverse circulation and diamond drilling programs across the area, which returned high quality, low impurity kaolin, delineated from pattern drilling.

The thickness of the kaolin was up to 57 metres in vertical depth, with an average vertical thickness of 27 metres over drillholes covering the 1.7 kilometre by 1.6 kilometre area. The findings were close to surface and were said to include halloysite, with the extent of the kaolin remaining open in all directions.

The company said the local infrastructure in the town is more than adequate, with water supply, power, and a new tar road two kilometres from the prospect.

Commercialisation studies have now begun, starting with the appointment of a project manager.

Meanwhile, an resource estimate is currently being prepared by contractors, Hyland Geological and Mining Consultants (HGMC).

The company reported that recent discussions with potential customers indicated that brightness and halloysite will not be considered for immediate use for certain kaolin-based products.

Kula Gold shares climbed 4 per cent, trading at 2.6 cents at 12:56 pm AEST.

KGD by the numbers
More From The Market Herald
Cavalier Resources (ASX:CVR) - Executive Chairman, Ranko Matic

" Cavalier Resources (ASX:CVR) begins PFS at Crawford

Cavalier Resources (ASX:CVR) has begun a pre-feasibility study (PFS) at the Crawford Gold Project within the…
The Market Herald Video

" Emerald Resources (ASX:EMR) reports “exceptional” drill results from Neptune, WA

Emerald Resources (ASX:EMR) has reported “exceptional” drill results from the Neptune gold prospect in Western Australia.
The Market Herald Video

" Atomos (ASX:AMS) reports record FY22 sales following strong Q4

Atomos (ASX:AMS) Q4 results boost FY22 unaudited revenue to in excess of $82 million.
The Market Herald Video

" iTech Minerals (ASX:ITM) progresses testwork for PSG production at Campoona

iTech Minerals (ASX:ITM) has produced a 42-kilogram bulk sample of total graphitic carbon (TGC) concentrate from…