Kula Gold reported findings from its reverse circulation drilling program at the Mt Palmer Gold Mine, revealing a new shallow gold lode.
Highlights include 4m at 3.02 g/t gold, with a peak interval of 1m at 6.66 g/t gold from a depth of just 18m.
The Mt Palmer Bryant Lode found 500m south of the main workings, shows a contiguous zone of shallow gold mineralisation, necessitating additional drilling to estimate resources.
The results align with historical data, where previous drilling reported intervals such as 7m at 3 g/t gold, including 1m at 10.6 g/t gold.
The Mt Palmer Gold Mine is strategically located near the Marvel Loch gold plant, approximately 15km away, and about 90km from the Edna May gold plant, allowing for efficient advancement of any discoveries.
Reflecting on the promising findings, Kula's Managing Director, Ric Dawson, stated, "This is a great start in our maiden drilling program at Mt Palmer. This historically rich 'half ounce' gold mine is now ready for the next stage of the drilling program with diamond drilling planned in the coming weeks."
The company, which acquired a 51% stake in the Mt Palmer Project, is continuing the reverse circulation drilling program, including three pre-collars for diamond core drilling under old workings, extending down to approximately 160m at 15.9 g/t gold.
The phase aims to test deeper extensions below levels last mined commercially in 1944 when operations ceased due to World War II.
Kula Gold's strategy emphasises exploring near existing infrastructure to expedite the transition from discovery to monetary success.
The results from the exploration at the Mt Palmer Gold Mine reinforce Kula's focused approach towards uncovering high-grade gold mineralisation.