Mt Palmer Drilling Yields 6m at 20.3g/t Gold in Latest Kula Results

Outstanding High-Grade Intercepts

Kula Gold Limited has delivered its most impressive drilling results to date at the Mt Palmer Gold Project, located in the Southern Cross Goldfields of Western Australia. The standout intercept includes 15 metres grading 9.4 grams per tonne (g/t) gold starting from just 87 metres downhole, featuring a remarkable 6 metres at 20.3 g/t gold. These results underscore the project's potential to host significant high-grade mineralisation close to surface.

Expanding the Known Mineralised Zone

The recent drilling has extended the known mineralised strike length at Mt Palmer to around 3 kilometres, stretching from the Eldorado area in the north down to Bryant in the south. This expansion is particularly notable given the relatively wide drill spacing so far, suggesting that the project’s true scale and grade distribution remain largely untested. Kula’s Managing Director Ric Dawson highlighted that the company is only scratching the surface of what could be a substantial gold system.

Pending Assays and Structural Insights

While the reverse circulation (RC) drilling results are encouraging, the market awaits assays from recently completed diamond core drilling. These core samples are undergoing detailed structural logging by specialist consultants and will provide critical insights into the geometry and controls on mineralisation. The diamond core results will be pivotal in refining the geological model and guiding future drilling campaigns.

Next Steps in Exploration

Kula Gold is progressing with a comprehensive exploration strategy that includes further RC drilling, selective one-metre sampling based on initial composite results, and planned geophysical surveys such as drone magnetic surveys to better delineate targets. The company aims to move towards an infill drilling program designed to support a potential JORC resource estimate in the coming quarters, marking a significant step towards resource definition and project advancement.

Historical Context and Regional Potential

The Mt Palmer area has a rich history of gold mining dating back to the 1930s and 1940s, but systematic modern exploration has been limited until Kula’s acquisition in 2024. The project benefits from multiple styles of gold mineralisation, including shear-hosted and fold hinge-hosted deposits within quartz veining and banded iron formations. The presence of historic workings and parallel trends such as Quartz Island further enhance the project's exploration upside.