Miner identifies new target

 KULA Gold has identified new targets at its flagship Woodlark Island project, Milne Bay following completion of a Helimag survey.

The company said it would extend the survey for an additional 1500 line kilometres over several new target areas following the initial 2263 line kilometre Helimag survey.

Helimag data processing is taking place, the results of which will be finalised in a month. The focus is on the central part of the island which contains the current resource base.

Kula said previous resource drilling demonstrated a close affinity between argillic alteration, structure and gold mineralisation.

A decision was made to infill these high potential target areas at 50m line spacing to improve anomaly resolution and target definition for follow up drilling.

Kula Gold chief executive officer Stuart Pether said: “The Helimag programme has confirmed the company’s view that the project’s current resource base could be expanded with further focused exploration beneath the thin overlying cover sediments.”

Kula has mobilised a diamond drill from Alotau on the mainland to undertake drilling on targets generated from the Helimag survey, which was carried out by Perth-based firm GPX Surveys. – PNG Industry News