공시 • Jul 20
Kula Gold Limited Reports Completion of Maiden Mineral Resource Estimate for the Boomerang Kaolin Deposit Near Marvel Locha/Southern Cross, Western Australia
Kula Gold Limited reported the completion of the maiden Mineral Resource Estimate for the Boomerang Kaolin Deposit near Marvel Locha/Southern Cross, Western Australia. The independent JORC 2012 compliant resource estimate reports a total resource of 93.3million tonnes of Kaolinized Granite, which is made up of indicated resource of 15.2mt and an inferred resource of 78.1mt. The orebody is open laterally in all directions. The Boomerang Kaolin Deposit was first discovered in July 2021 testing a Boomerang shaped feature in the magnetics. The Company then implemented a comprehensive drill program, within 12 months Kula has converted a discovery drillhole to a maiden resource of scale. This has been completed on a capex of $1.2 million. The Board congratulates the team on their dedication in achieving this milestone in record time, in particular: The Kula exploration team led by Adam Anderson and Mel Hickman; Independent consultants HGMC, Sedgman, Bureau Veritas, and GdB Database for their work in their components for the JORC Resource Estimation by HGMC; and the drillers, contractors, suppliers, farmers and hotels, especially in the Southern Cross and Marvel Loch area for their invaluable support and assistance. Commercialisation studies on the Boomerang Kaolinite Project have identified and advanced Metakaolin production for the Green Construction Industry. A new wholly owned subsidiary Boomerang Kaolin Pty Ltd. has been incorporated. The use of Metakaolin as a replacement for approximately 15% of cement in concrete production has many benefits. For every residential house built using 100t of concrete, there is a reduction of 8t in carbon dioxide emissions. In addition, will see improvements to many concrete properties, such as increased "early" and "cured" strength, increased flexural strength, increased concrete density, reduced porosity, less permeability and greater durability, all for nominal additional cost. Study work to date suggests that the Boomerang Kaolin mineralisation supports the development of a shallow open-pit long life mine, combined with industry-standard processing technology. The deposit remains open laterally in all directions and logistics are exceptional, as indicated below, being a tar road through the tenement within 4km of the deposit, and the Marvel Loch townsite 5km, and rail siding at Southern Cross 43km. The Boomerang project team continue to work on the commercialisation process, metallurgical studies, and with consultants and regulators to progress the agreements and approvals required for any future development. Further details will be reported as material advancements are achieved. The Boomerang Kaolinite Mineral Resource is based on 84 RC drill-holes and 2 diamond core holes. The Kaolinite mineralization zone was defined as a 3D wireframe based on drill-hole logging and analytical assay results such as Al2O3 which further helped define the characteristics of the kaolinite zones. Mineral Resource classification was based on drilling density. HGMC notes that the entire Kaolinite zone is extensive and further in-fill drilling will very likely confirm an expanded resource base. The continuity of the mineralization characteristics in conjunction with the relative uniformity of Al2O3 content and associated elements point to the reliability of the estimation of resources for Boomerang. Mineralised resources are reported for the entire Kaolinite zone as well as the -45 µm fraction which is Geology and Mineralisation Interpretation: The Boomerang Kaolin Project is located approximately 6km North-East of the mining centre of Marvel Loch in the southern part of the Ghooli Dome. The deposit area is underlain by the variably weathered Yilgarn Craton granites and amphibolite. The simplified geological succession in the prospect area consists of: Up to 1m of transported sand, silt and gravel, Up to 8m of silcrete; Up to 59m of kaolin clay; Up to 15m of weathered pegmatite and/or amphibolite, then fresh pegmatite and/or amphibolite. The continuity of the kaolinite mineralization in conjunction with the relative uniformity of Al2O3 content allowed for the reliable volume estimation for the Boomerang deposit. Drilling techniques Resource drilling at Boomerang has been predominantly RC type using a Schramm 450 drilling rig using a 5¼ inch diameter drill-bit on a face sampling hammer. In addition, two diamond core holes were also drilled primarily to acquire material for laboratory test-work and bulk density measurements. The RC drillholes were designed to follow up initial kaolin results. Drillhole spacing was adjusted during the program, to obtain closer spacing in the areas where a wider kaolinized intercept was observed, stepping out to 100-150m x 200m spacing, and to approximately 300m x 400m spacing to the south. In consideration of the nature of kaolin development, the drill spacing is deemed adequate for the purposes of assessing kaolinite mineral resource volume by testing the lateral and depth extent of the kaolin alteration zone. The RC drill collar locations were determined using an RTK pick-up by an independent surveyor. The diamond drill collar locations were captured with handheld GPS at the time of drilling. The grid system used is UTM GDA 94 Zone 50.