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Aurumin Ltd. ( (AU:AUN) ) has issued an update.
Kula Gold Limited, in joint venture with Aurumin Ltd., has announced a maiden JORC 2012 compliant resource estimate for the Mt Palmer Gold Mine tailings, reporting an inferred resource of 98,534 tonnes at 0.63g/t gold. The project, located near Marvel Loch in Western Australia, has undergone recent drilling and metallurgical testwork, indicating potential for early monetization through nearby processing facilities. Aurumin is currently diluting its 20% interest in the joint venture, and Kula is evaluating processing options for the tailings resource, with further testwork expected to expand the resource in the near future.
More about Aurumin Ltd.
Kula Gold Limited (ASX: KGD) is a Western Australian mineral exploration company specializing in the discovery of new mineral deposits in WA. The company focuses on large land positions and structural geological settings capable of hosting significant gold or equivalent-sized deposits. Kula Gold has a history of major resource discoveries, including the Woodlark Island Gold project in PNG and the Boomerang Kaolin Deposit in Western Australia.
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Technical Sentiment Signal: Buy
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