Breaking: Kula Gold Strikes Gold with Two New Prospects in Southern Cross Goldfield

Breaking: Kula Gold Strikes Gold with Two New Prospects in Southern Cross Goldfield

Kula Gold, a miner based in Australia, has made a promising discovery in the Southern Cross Goldfield region near Marvel Loch. The company’s sampling program has unearthed two new gold prospects, dubbed Stingray and Boomerang, in the vicinity of the established 3-million-ounce Marvel Loch mine. This discovery was made possible due to magnetic data that hinted at the presence of these prospects, leading to soil sampling that produced encouraging results.

Stingray and Boomerang: Promising Gold Prospects

The Stingray prospect stands out with its soil sampling hits of gold and a unique circular magnetic anomaly measuring 2-3km by 1km. The prospect yielded gold hits of up to 56.7 parts per billion (ppb), with 10 samples exceeding 25ppb. Given the promising results, Kula Gold intends to carry out a more comprehensive soil sampling program at Stingray to define drilling targets for a reverse-circulation drilling program.

The geology of Stingray shares similarities with other significant gold deposits in the region, encompassing amphibolite and banded iron formation greenstone rock types. Besides Stingray, the Boomerang prospect has also shown promise with a gold hit of 2.6 grams per tonne from reverse-circulation drilling and is celebrated for its kaolin mineral resource of 93.3 million tonnes.

Exploring the Gold-Rich Southern Cross Goldfield Region

Kula Gold is driven by the potential of the Southern Cross Goldfield region, a cornerstone of Australia’s gold mining history with more than 15 million ounces of gold yield. The company is not stopping at Stingray and Boomerang; it is also exploring three additional gold prospects within the same tenement—311, Nevoria North, and G-Star—all located near significant gold deposits.

The company’s objective is to continue drilling to ascertain the potential of these prospects. The Southern Cross township, boasting a rich gold mining history dating back to its establishment in 1890, is located approximately 30km from the Marvel Loch project area, adding to the strategic significance of Kula Gold’s exploration efforts.