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KULA GOLD LIMITED

ASX: KGD

The data on Australian Shares.com is intended as a guide only and is compiled from information in the public domain. Data on this website should not be used to make an investment or trading decision.

Description

Kula Gold is the 100 per cent owner of an advanced stage gold project with significant additional exploration potential on Woodlark Island, located approximately 250 kilometres from the Papua New Guinean mainland.

Kula Gold’s long-term vision is to become a significant mid-tier gold producer from multiple mines in the Asia Pacific region.

Kula Gold commenced trading on the Australian Securities Exchange on 16 November 2010.

Woodlark Island Gold Project

Kula Gold is developing the Woodlark Island Gold Project in Papua New Guinea, with near-term production prospects and significant potential exploration upside.

Woodlark Island is positioned within a region of proven large scale gold mines, such as Misima and Porgera (Barrick Gold Corporation), Lihir Island (Lihir Gold Limited, recently acquired by Newcrest Mining Limited) and Hidden Valley (Harmony Gold Mining Co. Ltd and Newcrest Mining Limited), and was itself the site of historic gold mining from the late nineteenth century until the early 1960s.

Kula Gold’s wholly owned subsidiary, Woodlark Mining Limited (WML), holds exploration tenements covering over 450km2 in an area that management sees as largely underexplored for gold mineralisation.

Woodlark Island already has key infrastructure in place, including a network of roads and tracks that were constructed by logging operators, an airstrip that was built in World War II, the 75 man exploration camp established in close proximity to the bulk of the current gold resource, as well as a deep water harbour capable of accommodating coastal shipping.

Woodlark Island is part of a Tertiary-aged volcanic island arc complex, part of the Woodlark Oceanic Rise, one of a succession of composite east-west trending island arcs in the eastern region of PNG. The island is generally a low, swampy raised coral platform but with a central core of Tertiary basement rocks exposed as a low, northerly trending range with some isolated hills in the central part of the island.

Mine For

gold

Location of operation(s)

Papua New Guinea

Address

Se 2, Level 15, 1 York St
SYDNEY, NSW, Australia

Phone

(61 2) 9262 5651

Email

Website


Last Updated

18/5/2011

 

The data on Australian Shares.com is intended as a guide only and is provided purely as an indication of what information can be found through official announcements. Data on this website should not be used to make an investment or trading decision. All information should be carefully cross-checked against official sources for accuracy. The publisher (Intaanetto Pty Ltd) will not be held liable for any loss arising from the use of this website.