Key facts about Kula Gold's funding announcement

Kula Gold (ASX:KGD) has announced that its Mustang Gold Prospect will receive funding support from the Western Australia Government's Exploration Incentive Scheme (EIS). The scheme will cover 50% of the drilling and mobilization costs, up to $180,000. Drilling is set to begin on December 1, 2024, at the promising Mustang site within the Kirup Project.

Overview of Kula Gold's exploration plans

Kula Gold (ASX:KGD) has secured financial backing from the Western Australia Government's EIS for its Mustang Gold Prospect, part of the Kirup Project. This support will fund half of the drilling and mobilization costs, with the program targeting promising geological formations similar to major gold mines. The Mustang site shows potential with previous assays indicating up to 3.5g/t gold. The project, strategically located near established mining areas, forms a key component of Kula's broader exploration strategy in Western Australia. The company remains committed to further exploration activities and aims to report additional findings as they progress.

Executive insights on the Mustang Prospect funding

The Mustang Gold Prospect's funding from the Western Australia Government's EIS is a significant endorsement of our exploration strategy. It supports our focus on identifying large-scale mineral deposits and adds value to our Mt Palmer Gold Project. The upcoming drilling program aims to explore geological models comparable to existing significant gold mines, which could unlock substantial potential.