Kula Gold Limited has released an update on its Stage 2 reverse circulation drilling program at the Mt Palmer Gold Mine in the Southern Cross Goldfields of Western Australia. The results reported include several high-grade gold intercepts measured in individual one-meter splits. Notable results include an 18-meter interval grading 4.4 grams per tonne gold, with a standout sub-interval of 2 meters reaching over 31 grams per tonne, and a seven-meter section averaging 7.7 grams per tonne gold that contains a three-meter zone of 17.2 grams per tonne. Other drill holes delivered intervals ranging from approximately 1.4 to 3.5 grams per tonne, contributing to an encouraging overall picture of gold mineralisation. The drill program, conducted on an 80% owned prospect in a joint venture arrangement, has generated early indicators of potential for low-cost open pit extraction given the shallow nature of the intersections. The technical release provides extensive data details, including one-meter and composite three-meter assay results, with a consistent 0.5 g/t cut-off applied across the programme. Advanced assay techniques using a 500-gram photon method have been adopted to ensure larger sample sizes and improved consistency in capturing coarse gold values. Historical data is referenced alongside modern exploration practices, emphasizing the legacy of the Mt Palmer site, which produced over 150,000 ounces of gold between 1934 and 1944. Although some drill holes did not return significant results, additional holes remain under analysis, reinforcing the ongoing nature of the exploration campaign. Market reaction to these discoveries is mixed. On the bullish side, the high-grade intercepts and innovative assay methods suggest strong potential for sizeable, low-cost resource development, which could support a significant exploration upside. However, the bearish perspective highlights that the project remains at an early stage, with true widths yet to be confirmed and several drill holes not delivering significant grades, adding a measure of risk and uncertainty to near-term resource estimates.