Join our daily newsletter At The Bell to receive exclusive market insights
- Kula Gold (KGD) resumes drilling at the Boomerang prospect following the Christmas and New Year break
- In late 2021, 52 reverse circualtion holes were drilled with 10 remaining, but following a review of the drilling to date, a further 18 have been added to the program
- The new drill program spans around 1.9 kilometres from north to south and roughly two kilometres from east to west, covering an area of around three square kilometres
- Drilling of the remaining 28 holes is expected to be completed within the next 14 days with results to be received shortly after
- Shares in Kula are down 9.43 per cent on the market and are trading at 4.8 cents
Kula Gold (KGD) has resumed drilling at the Boomerang prospect following the Christmas and New Year break.
The Boomerang prospect is part of Kula’s Marvel Loch – Airfield Project which lies near Southern Cross in Western Australia.
In late 2021, 52 reverse circulation (RC) holes, totalling 2887 metres, were drilled with 10 holes remaining.
Following a review of the holes completed to date, a further 18 holes have been added to the drilling program bringing the total number of holes from 62 to 80.
The new drilling program covers around 1.9 kilometres from north to south and roughly two kilometres from east to west, covering an area of around three square kilometres.
Additionally, logging of the RC holes drilled so far shows the white kaolin clays have an average vertical thickness of 29 metres and begin 5.7 metres below the surface.
Initially, the drilling program was designed to define the geographic extent and assess the resource potential of kaolin and halloysite at Boomerang.
The RC drilling will now deliver a preliminary resource estimate for the prospect.
Drilling of the remaining 28 holes is expected to be completed within the next 14 days with results to be received shortly after.
Shares in Kula were down 9.43 per cent on the market and were trading at 4.8 cents at 2:45 pm AEDT.
