Latest Boniavat drilling could prompt upgrade

KULA Gold has intersected significant gold mineralisation at Boniavat, at its Woodlark Island gold project.
Latest Boniavat drilling could prompt upgrade Latest Boniavat drilling could prompt upgrade Latest Boniavat drilling could prompt upgrade Latest Boniavat drilling could prompt upgrade Latest Boniavat drilling could prompt upgrade

Infill drilling at Boniavat was started in mid-January, with previous step-out drilling indicating a zone of mineralisation extending about 900 metres in strike length.

Assay results include strikes of 26m at 2.8 grams per tonne gold from 34m, 38m at 2.1gpt gold from 41m, and 25m at 1.5gpt gold from 65m.

Kula Gold managing director Lee Spencer said the infill results indicated a high likelihood of gold mineralisation continuity and provided strong support for the inclusion of a third pit in the company's ongoing feasibility study.

"These results are very encouraging and further underpin our confidence that a material resource upgrade will be achieved at the upcoming March review," he said.

"This constitutes another step toward our short-term exploration target of expanding our resource base above two million ounces."

Woodlark Island has current resources of 35 million tonnes at 1.5gpt gold for a contained 1.75 million ounces and a probable reserve of 7.7Mt at 2.4gpt gold for 584,000 ounces.

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