Kula uncovers large resource at low cost

MINNOW Kula Gold has reported a maiden resource of 93.3 million tonnes of kaolinised granite for its Boomerang deposit at Marvel Loch in Western Australia’s Goldfields.
Kula uncovers large resource at low cost Kula uncovers large resource at low cost Kula uncovers large resource at low cost Kula uncovers large resource at low cost Kula uncovers large resource at low cost

RC chips from Boomerang

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.