Kula Gold (ASX: KGD) has commenced a reverse circulation (RC) drill programme at the company’s 51% acquired Mt Palmer Gold Mine located near Marvel Loch WA in the Southern Cross Goldfields
“This historically rich ‘half ounce’ gold mine has had ~200 workhours of analysis by Kula’s technical team and shows solid targets for high- grade gold mineralisation extending down plunge,” Managing Director, Ric Dawson, said.
“This acquisition aligns with the company’s strategy to explore near to existing operations to fast track any discovery to monetary success”.
Mt Palmer Gold Mine
The mine produced over 150,000 ounces of gold at 15.9 grams/tonne in the period 1934 to 1944 and is north of the Nevoria Gold Mine (+600,000 ounces of gold), east of the circa 2.4million ounce Marvel Loch Gold Mine.
The mine closed in part due to the continuation of World War 2 severely restricting access to labour and materials and subsequently the mine flooded and was never reopened. Limited exploration since that time has been carried out, largely targeting open pit (less than 100m from surface) opportunities.
RC Drilling Programme
The planned RC drill programme will test the down plunge, along strike extensions to the historically known orebody
Mining records indicate that the high-grade shoots were developed within stratabound veins on the limbs and closures of pre-existing folds. Individual lodes were mined over a strike length extending up to 200m and to depths of 155m below surface. The shoots are up to 10m wide and 30 to 70m long and were best developed in the Main and East Lodes.
The mine lease and surrounding areas have excellent exploration potential for the discovery of additional deposits, given limited systematic exploration to date.
