The resource included an indicated component of 15.2Mt.
The orebody remains open laterally in all directions.
Discovered in July 2021, Kula said the resource was delineated at a cost of just A$1.2 million.
The company has identified the potential to produce metakaolin for the green construction industry.
It said metakaolin could replace about 15% of concrete production, reducing emissions.
Kula is planning metallurgical studies and will progress approvals for an open pit development to produce 200,000-500,000 tonnes per annum.
Shares in the company rose as high as 3.7c and last traded 9.6% higher at 3.4c, giving it a market capitalisation of $7.3 million.
