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- Kula Gold has applied for a licence at the Airfield Gold Project in Western Australia
- The company recently went to go visit the site to confirm previous geochemistry work in the field
- The license is expended to be granted by the start of 2020
- Kula Gold is up 6.90 per cent on the market today with shares trading for 3.1 cents apiece
Kula Gold has applied for ELA77/2621 license in Marvel Loch, Western Australia, also known as the Airfield Gold Project.
The license is expended to be granted by the start of 2020.
Previous work in the Ghooli Dome was completed in the late 1980s by Sons of Gwalia (SOG) with the tests highlighting auger gold in soil anomalies, which have not been followed up.
The Airfield gold project is located 5 kilometres east of the town Marvel Loch, a major gold mining centre in Western Australia. The project covers an area of 120 square kilometres.
Kula visited the site to check the access to and within the license area and to confirm SOG’s geochemistry work in the field.
It found that access to the license is excellent and a short drive from Marvel Loch with existing tracks provided access within the licence area.
“Detailed analysis of the historic open file exploration data, a site visit and acquisition of more recent open file aero-magnetics has added to the knowledge base and understanding of the potential for this location,” the company told the market.
The data has been re-processed by a geophysicist, who has identified a number of structures with a series of extensional jogs which are coincident with the historical auger gold in soil anomalies.
These targets have strike lengths of over 2 kilometres, which are open to the north and south.
One of the SOG geochemistry samples returned a value of 311 parts per billion and the location of this sample was located in the field during this visit.
The next phase work program of auger geochemistry sampling has been planned to verify and extend the SOG anomalies and is ready to proceed once the licence is granted.
Kula said it also identified suitable local contractors for the planned work programs during the site visit.
Kula Gold is up 6.90 per cent on the market today with shares trading for 3.1 cents apiece at 1:49 pm AEDT.
