Kula Gold Strikes Up to 83.6g/t in Shallow Mt Palmer Drilling

Strong High-Grade Results Bolster Mt Palmer Prospects

Kula Gold Limited has released a compelling update from its 80%-owned Mt Palmer Gold Mine in Western Australia, revealing a series of high-grade gold intercepts from its ongoing Stage 2 reverse circulation (RC) drilling program. Notably, assays returned up to 3 metres grading 35.9 grams per tonne (g/t) gold, including an extraordinary 1 metre at 83.6 g/t, underscoring the project's potential to deliver significant shareholder value.

The Mt Palmer project, located in the Southern Cross Goldfields and operated in joint venture with Aurumin Limited (20% diluting interest), has a rich history dating back to the 1930s. The mine produced over 150,000 ounces of gold at an average grade of 15.9 g/t before closing in 1944 due to wartime constraints. Since then, exploration has been sporadic, making Kula’s recent results particularly noteworthy.

Innovative Assay Techniques Enhance Confidence

A key factor in these promising results is the adoption of Photon Assay technology, a cutting-edge, non-destructive method that analyses larger sample sizes (up to 500 grams) compared to traditional fire assay techniques. This advancement reduces the risk of under-reporting coarse or nuggety gold, a known challenge in historic assays at Mt Palmer. The technology’s ability to deliver faster and more accurate results is already proving transformative for Kula’s exploration efforts.

Managing Director Ric Dawson highlighted the significance of the shallow high-grade intercepts, some approaching an ounce per tonne, as reinforcing the strong geological fundamentals of the project. These results support ongoing exploration aimed at delineating the long-term development potential of Mt Palmer, including the possibility of low-cost open pit mining configurations.

Structural Complexity and Future Drilling Plans

The Mt Palmer gold system is structurally complex, with mineralisation controlled by shear zones, fold axes, and boudinage within quartz reefs. Recent structural interpretations by consultants Model Earth have refined understanding of these controls, guiding targeted drilling. The upcoming Stage 2 diamond drilling program will provide critical structural data to validate and enhance predictive geological models.

Additionally, new mineralised zones such as the West Lode and Busey Shoot have been identified, expanding the exploration footprint. While some holes did not return significant results, the overall drilling campaign continues to build a compelling case for the project’s potential scale and grade.

Looking Ahead

With further diamond drilling imminent and ongoing structural modelling, Kula Gold is positioning Mt Palmer as a key asset in its portfolio. The combination of historic mine legacy, modern assay technology, and sophisticated geological interpretation creates a promising pathway toward resource definition and eventual development.