Kula Gold trenching highlights possible Woodlark extension

THE DRILL SERGEANT: Kula Gold Limited (ASX: KGD) has completed a series of exploration trenches at the Watou prospect, located approximately 900 metres south of the company’s Woodlark King deposit in Papua New Guinea.

The company claims the trenching has returned further ore grade assay results from the Watou prospect, which it appraised to be an extension of the Woodlark King deposit.

Kula Gold said it had identified the Watou prospect to be a possible extension of the Woodlark King deposit via a new Exploration Model, which the company has developed from analysis of recently acquired Helimag data and previous geological knowledge.

A total of 552 metres of reconnaissance trenches were completed within the Watou target area with 143m of the trenches being sampled based on the presence of visual alteration.

 

Location of Watou prospect in relationship to the Woodlark King deposit
and Little Mackenzie prospect. Source: Company announcement

 

Kula gold said the sampling results indicate the presence of at least five individual parallel zones of mineralisation, associated with a NW trending felsic dyke swarm intruding the andesitic volcanics.

These linear zones of mineralisation were intercepted by the reconnaissance trenches in a number of places and returned the following assay results:

10 metres at 1.6 grams per tonne gold;

15m at 1.6g/t gold;

10m at 3.4g/t gold;

2m at 25.3g/t gold;

4m at 5.9g/t gold;

4m at 3.1g/t gold; and

3m at 4.4g/t gold.

“The return of ore grade gold mineralisation in the series of trenches at the Watou prospect continues to demonstrates that the new Exploration Model is an effective on-ground targeting tool,” Kula Gold CEO Stuart Pether said in the company’s announcement to the Australian Securities Exchange.

“We are encouraged that the further discovery of ore grade mineralisation along the Woodlark King Illawarra Fault Zone confirms the area as highly prospective and supports the recent investment in high quality magnetics data to drive the goal of doubling the Woodlark Island Resources.

“We are very pleased with the continued success of the 2014 exploration program and continue to be confident that the program will result in an increase in the size and quality of Kula’s current 2.1 million ounce gold Mineral Resource at Woodlark.”

Email: info@kulagold.com.au

Website: www.kulagold.com.au