Aurumin Limited (ASX: AUN) reposted this
⛏ "With the current #Gold price over $US2,500/ounce ($A3,800), this is an opportune time for Kula to be exploring and advancing a previously producing high grade gold mine," Kula Gold MD Ric Dawson. Kula has begun Diamond Core Drilling with Terra Drilling Pty Ltd at its historic high grade Mt Palmer Gold Mine near Marvel Loch in the Southern Cross Goldfields of WA. HIGHLIGHTS 🔘 Diamond HQ3 core drilling commences under historic Mt Palmer Gold Mine with past production run of mine (ROM) being 15.9g/t gold 🔘 Plan to drill 320m of HQ3 diamond core with Terra Drilling from 3 existing RC holes pre-collared to 102m- 156m 🔘 Terra Drilling has agreed to provide their services for equity funding in any additional diamond core drilling holes over the planned 3 holes 🔘 Mt Palmer Gold Mine is ~15km from the Marvel Loch gold plant and infrastructure, and ~90km from the Edna May gold plant, which aligns with Kula’s strategy of exploring near to existing operations to fast track any discovery to monetary success 🗣️ Dawson added: “This is an exciting next phase in our first round of our maiden drilling programme at Mt Palmer. This historically rich ‘half ounce’ gold mine is now ready for this next stage of the drilling programme with the diamond drilling planned to test below the production stopped by 1944 exodus of miners due to World War 2 and never re-opened. Historic data reviewed by Kula’s technical team shows solid targets for high-grade gold mineralisation extending below 160m, the past mining level, shallow by today’s modern operating practices. With the current gold price over $US2,500/ounce ($A3,800), this is an opportune time for Kula to be exploring and advancing a previously producing high grade gold mine whilst other ASX listed high grade gold developers like Spartan Resources Ltd, Southern Cross Gold and Santana Minerals Ltd are being fully appreciated with significant market capitalisations.” ⚙️ Full details on the program below: https://lnkd.in/guQuHREC #exploration #mining #goldexploration #diamonddrilling #southerncross #westernaustralia #goldfields #drilling #goldprice
Ric Dawson
1w
Excited to begin the diamond tails of Kula’s maiden drilling program at historic Mt Palmer Gold Mine and thank you to the team at Terra Drilling Pty Ltd for offering equity funding for any additional diamond core drilling.
Company Secretary - Multiple ASX listed companies
1wBest place to find gold, where they have found it before Money of Mine