Mt Palmer Drilling Yields 18m at 4.4g/t Including 2m at 31.3g/t Gold

Strong High-Grade Gold Results from Mt Palmer

Kula Gold Limited has released encouraging results from its Stage 2 reverse circulation (RC) drilling program at the historic Mt Palmer Gold Mine in Western Australia. The latest assays reveal individual 1-metre intervals grading as high as 31.3 grams per tonne (g/t) gold, with multiple intercepts exceeding 7 g/t. These results underscore the potential of the project to host significant high-grade gold mineralisation.

The Mt Palmer project, located in the Southern Cross Goldfields region, is 80% owned by Kula Gold under a joint venture with Aurumin Limited. The drilling campaign aims to delineate a resource estimate in the near term, building on the mine’s rich history of producing over 150,000 ounces of gold at an average grade of 15.9 g/t between 1934 and 1944.

Innovative Assay Techniques Enhance Confidence

Kula Gold has adopted the photon assay technique as its preferred method for gold analysis. This approach uses a larger sample size (500 grams) compared to the traditional 50-gram fire assay, reducing the risk of missing coarse gold particles and providing more representative results. The non-destructive nature of photon assay also allows for subsequent multi-element and metallurgical testing on the same samples, adding flexibility to the exploration program.

Managing Director Ric Dawson highlighted the significance of the results, noting that the high-grade 1-metre splits, some approaching an ounce of gold per tonne, are advancing the project toward resource definition. The shallow nature of many intercepts suggests potential for low-cost open pit mining, which could enhance the economic viability of the deposit.

Ongoing Drilling and Exploration Outlook

The drilling program is ongoing, with further results pending from holes 25MPRC0016 through 25MPRC0038. Early indications from the current data set show consistent mineralisation across multiple holes, with grades and widths that warrant continued exploration. The company is also conducting a soil sampling program to identify additional targets north and south of the existing workings.

Mt Palmer’s geological setting features shear-hosted and fold hinge-hosted gold mineralisation within quartz stockwork veins and amphibolite-hosted zones. The project benefits from historical mining infrastructure and proximity to other significant gold deposits in the region, such as the Marvel Loch and Nevoria mines.

Strategic Positioning in Western Australia

Kula Gold’s broader strategy focuses on large land positions in structurally prospective areas capable of hosting multi-million-ounce gold or equivalent deposits. The company’s recent success with the Boomerang Kaolin Deposit near Southern Cross demonstrates its ability to advance projects through exploration to resource definition and economic studies.

With Mt Palmer showing promising high-grade results early in the drilling campaign, Kula Gold is positioning itself to unlock value from this historic goldfield. The joint venture structure with Aurumin allows for shared risk and expertise, while ongoing drilling and assay work will be critical to confirming the scale and quality of the mineralisation.