{"id":8877,"date":"2024-04-29T02:47:10","date_gmt":"2024-04-29T02:47:10","guid":{"rendered":"https:\/\/economicherald.net\/?p=8877"},"modified":"2024-04-29T02:47:10","modified_gmt":"2024-04-29T02:47:10","slug":"kula-gold-aims-for-solid-returns-from-boomerang-as-it-gears-up-for-drilling","status":"publish","type":"post","link":"https:\/\/economicherald.net\/?p=8877","title":{"rendered":"Kula Gold aims for solid returns from Boomerang as it gears up for drilling"},"content":{"rendered":"<p>Kula Gold is champing at the bit to get the drill spinning at Boomerang, part of the Marvel Loch project in WA<br \/>\nApprovals are in place and the RC drill rig is mobilising to position<br \/>\nFollow-up geological testing has further defined the gold soil anomaly<br \/>\nBoomerang is near the historical high grade Nevoria (+600,000 ounces gold), 2.4million ounces Marvel Loch (2.4Moz) and Mt Palmer gold mines (+150,000oz)<\/p>\n<p>\u00a0\u00a0<\/p>\n<p><strong><em>Special Report<\/em><\/strong><em>: <\/em><strong>Kula Gold is about to drill its Boomerang prospect, close to<\/strong> <strong>historic multimillion ounce Marvel Loch area gold mines in WA. \u201cThe best place to discover a gold mine is near the headframe of a gold mine,\u201d it says.<\/strong><strong>\u00a0<\/strong><\/p>\n<p>With all required approvals in place, <strong>Kula Gold (ASX:KGD)<\/strong> is this week preparing an RC rig for drilling at Boomerang, part of the historical Marvel Loch project near Southern Cross in WA.<\/p>\n<p>And it\u2019s an exciting prospect that\u2019s just had its tyres pumped up a little further courtesy of a follow-up round of geological analysis. Infill UFF soil sampling has now enhanced Boomerang\u2019s gold anomaly to more than 200 metres in length.<\/p>\n<p>Kula\u2019s operating in a proven mining district. Boomerang is one of five gold prospects at the Marvel Loch project, which sits between several gold mines including the historical +600,000oz Nevoria mine and east of Barton Gold\u2019s 3Moz Marvel Loch mine.<\/p>\n<p>In early February, KGD kicked off a program of close-spaced ultrafine soil sampling on a 20m x 20m grid to locate the most favourable drill locations at Boomerang.<\/p>\n<p>The anomaly is now confirmed to be in a magnetic low along a NW 310-330 degree orientation \u2014 the optimal configuration as most of the gold deposits in the Southern Cross Goldfields strike in the same direction.<\/p>\n<p>Being 5km from the Marvel Loch gold processing plant and infrastructure, a discovery here would be a huge boost to KGD\u2019s strategy of exploring near to existing operations \u201cto fast track any discovery to monetary success\u201d.<\/p>\n<p>\u00a0<\/p>\n\n<p>Kula\u2019s Marvel Loch project. Pic: Kula Gold<\/p>\n<p>\u00a0<\/p>\n<h2><strong>\u2018The best place to discover a gold mine\u2019<\/strong><\/h2>\n<p>Regarding the company\u2019s second round of geochemistry analysis at the site, Kula\u2019s MD Ric Dawson noted it has \u201c tightened up the gold soil anomaly\u201d for the promising target.<\/p>\n<p>\u201cIn addition, the current GSWA 1:250,000 geological series map is different to what Kula Gold is now discovering and observing and now opens up major unidentified greenstone units for gold exploration potential in our large over 120km2 landholding,\u201d added Dawson.<\/p>\n<p>The company recently confirmed that the anomaly is a cross cutting NE structure in the vicinity of geochemistry results that contain a historical Kula RC hole that produced a significant result of 1m at 2.6g\/t gold at 54m.<\/p>\n<p>\u201cThe best place to discover a gold mine is near the headframe of a gold mine,\u201d noted Dawson, referencing the multimillion ounce Marvel Loch area gold mines that make Boomerang such an appealing target.<\/p>\n<p>\u00a0<\/p>\n\n<p>The Boomerang Gold Prospect with gold UFF soil anomaly and proposed RC drill collars. Pic: Kula Gold<\/p>\n<p>\u00a0<\/p>\n<h2><strong>Marvel locked in for further development<\/strong><\/h2>\n<p>Preliminary drill locations for Boomerang have been marked up and the RC rig should be in action within the next few days.<\/p>\n<p>Meanwhile, regarding its other operations in the area, Kula says it\u2019s continuing to further develop existing gold prospects in the Marvel Loch project. Those include the Stingray, Crayfish, Nevoria North and G-Star prospects.<\/p>\n<p>Keep an eye out for results from recent UFF soils programmes (gold and multi-element), says Kula, which should be on their way soon.<\/p>\n<p>\u00a0<\/p>\n\n<p><span class=\"mce_SELRES_start\">\ufeff<\/span>\u00a0<\/p>\n<p><em>This article was developed in collaboration with Kula Gold, a Stockhead advertiser at the time of publishing.<\/em><\/p>\n<p>\u00a0<\/p>\n<p><em>This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.<\/em><\/p>\n<p><span class=\"et_bloom_bottom_trigger\"><\/span><\/p>\n<p>The post <a href=\"https:\/\/stockhead.com.au\/resources\/kula-gold-aims-for-solid-returns-from-boomerang-as-it-gears-up-for-drilling\/\">Kula Gold aims for solid returns from Boomerang as it gears up for drilling<\/a> appeared first on <a href=\"https:\/\/stockhead.com.au\/\">Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"<p>Kula Gold is champing at the bit to get the drill spinning at Boomerang, part of the Marvel Loch project in WA Approvals are in <a href=\"https:\/\/economicherald.net\/?p=8877\" class=\"read-more-link\">[more&#8230;]<\/a><\/p>\n","protected":false},"author":0,"featured_media":8878,"comment_status":"","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-8877","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - 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