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CONTINUED DRILLING SUCCESS AT WOODLARK

CONTINUED DRILLING SUCCESS AT WOODLARK

HIGHLIGHTS

  • Depth extensions confirmed below pit designs
  • Broad zones of mineralisation at Busai and Kulumadau
  • Continuity of mineralisation confirmed
  • Focused drilling assessing depth extensions at Kulumadau and Busai confirms broad gold mineralisation below 2012 pit designs

Kulumadau:

  • 18m @ 10.29g/t from 231m
  • 22m @ 2.78g/t Au from 53m
  • 3m @ 63.44g/t Au from 212m

Busai:

  • 40m @ 2.04g/t Au from 121m
  • 18m @5.55g/t Au from 178m

 

Kula Gold Limited  is pleased to provide additional assay results from development drilling at the Kulumadau deposit at the Woodlark Gold Project (Woodlark) in joint venture with Geopacific Resources.  The Project is located 600 kilometres east of Port Moresby in the Milne Bay Province, Papua New Guinea.

Drilling around the Kulumadau West deposit targeted depth extensions of the mineralisation with success.  Results returned strong zones of high-grade mineralisation within 100 metres of the base of the 2012 pit design, increasing certainty around inferred mineralisation identified in historic drilling.

Drilling to the north of the Kulumadau East deposit continued to return broad zones of near-surface mineralisation, which remains open along strike and at depth.

Ongoing development drilling at Busai has confirmed the presence of broad gold intercepts below the Busai Main deposit.  These results complement previously released intersections and confirm the continuation of gold mineralisation below the 2012 pit design.

Kulumadau West is the main area of the Kulumadau deposit, characterised by broad, strong zones of gold mineralisation. This mineralisation is generally associated with cataclaisite breccias and related clay alteration.

Recent drilling at Kulumadau West aimed to define depth extensions to the mineralisation and to improve the confidence in inferred resources below the base of the 2012 pit design. Results have confirmed and extended the mineralisation which remains open at depth. The depth of the 2012 pit design varies between 130 to 150 metres, with the recent results within less than 100 metres of the proposed pit floor.

The high-grade nature of the Kulumadau West deposit’s central zone can clearly be seen in the longitudinal section
(Figure 2) with impressive historical results including:
  • 11m @ 36.3 g/t gold
  • 13m @ 32.42 g/t gold
  • 36m @12.52 g/t gold
  • 48m @ 10.39 g/t gold
  • 52m @ 4.72 g/t gold
Drillhole KU17DD011, drilled below the proposed 2012 pit outline, intersected 18m @ 10.29g/t gold from 231m, confirming the high-grade, down-dip continuity of Kulumadau West Mineralisation.

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