Further Significant Intercepts Confirm Potential for Resources Upgrade
Further infill drilling results continue to confirm potential for an increase in JORC Mineral Resources.
Recent assay results from infill drilling at Boniavat include:
6 metres @ 5.9g/t Au from 88 metres
40 metres @ 1.4g/t Au from 49 metres
20 metres @ 1.8g/t Au from 13 metres
Infill drilling is continuing with the objective of completing a resource upgrade by Mid April 2011.
At a new exploration target, Talpos Creek, rock chip sampling of outcrop and float have returned anomalous gold assays up to 26g/t Au. Talpos Creek is one of eight regional targets systematically being assessed for gold mineralisation.
Kula Gold Limited (ASX:KGD) has today announced further significant intersections of gold mineralisation at its wholly owned Woodlark Island Gold Project in Papua New Guinea.
Infill drilling at Boniavat was initiated in mid January, with previous step out drilling indicating a zone of mineralisation extending approximately 900 metres in strike length.
The company’s resource consultants concluded that a 50 RC hole infill programme would be sufficient to arrive at an Indicated Resource for the Woodlark King Zone within Boniavat.
Previous widespread drilling in 2010 had confirmed a zone of north-west trending mineralisation, 250 metres in strike extent, flanking the pre-World War II shallow open pit at Boniavat.
All recent Boniavat drilling intersections are included in Table 1 of the ASX announcement.
The bulk of the infill drilling results originated from the southern portion and eastern flank of the Woodlark King mineralised structure. This supports the assertion that coherent mineralisation will potentially extend beyond the 350 metre long mineralised zone currently infill drilled to date.
Preliminary reconnaissance exploration at the Talpos Prospect, 3.5 kilometres south east of the proposed mill near Busai, has returned encouraging assays from float up to 26.9 g/t Au and grab samples of hydrothermal breccia to 5g/t Au. Talpos is one of the eight regional targets currently being assessed in addition to resource drilling operations underway at Boniavat.
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