New Style of Gold Mineralisation at Woodlark
Highlights
- Confirmed supergene style gold mineralisation in sediments adjacent to proposed Busai pit.
- High grade gold assay results in this material - 19 metres at 9 g/t Au from 20 metres depth including 1 metre at 127g/t Au from 20 to 21 metres.
- Potential for new drilling targets
Kula Gold Limited (ASX: KGD) has today announced excellent assays from three diamond holes drilled into sediments immediately adjacent to the Busai resource on its Woodlark Island Gold Project in Papua New Guinea. The assay results confirmed a new style of gold mineralisation in these sediments at Busai.
Reconnaissance RC drilling was designed to test volcanic-hosted epithermal mineralisation on the north western strike of the Busai resource. The drilling programme intersected a sequence of flat lying sediments (Kiriwina Sequence) overlying the volcanic basement. Subsequent analysis of the sediments demonstrated widespread gold assays in a marine/terrestrial interface which coincided with a REDOX boundary overlain by black silts with a high organic content and shallow marine sediments. Further RC drilling is planned to determine the distribution of the gold bearing stratigraphy.
Kula Gold Managing Director, Lee Spencer said, “These additional encouraging gold results from just a three hole drilling programme further demonstrates the excellent resource potential of Woodlark Island. These assay results, in an area of extensive young sedimentary cover and located adjacent to our proposed Busai pit, show strong potential to be a significant new exploration target.”
Three vertical diamond holes were drilled into the Kiriwina sequence at approximately 150 metre intervals towards the north west of Busai to test the sedimentary stratigraphy, refer Table 1 in the ASX announcement for assay results and Figure 1 for hole locations.
Significant assays from the same marine/terrestrial sequence in the 2010 reconnaissance RC drilling are shown in Table 2 of the ASX announcement and the distribution of RC drill holes showing significant assays are shown in Figure 2.
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