Krakatoa Reports Significant Progress Across its Product Portfolio For the Quarter Ended June 2020

  • Jul 29, 2020 AEST
  • Team Kalkine

Krakatoa Resources Limited (ASX:KTA) received results from gold and multielement assay from the aircore drilling program that interpreted to have further heightened the prospective nature of the Bell Valley area.

Subsequent to the successful outcomes from the high-resolution drone survey at Bell Valley, KTA was quick to complete a high-resolution aeromagnetic survey across the entire Belgravia Project.

Two separate north-trending reef systems in Quartz Ridge and Box Ridge at Turon Project were identified through a detailed review of historical work during the quarter.

KTA also lodged an application with the NSW Resources Regulator to conduct a diamond drill program at the Turon Project, seeking approval for up to 1,770m of diamond drilling at several exciting shallow gold targets.

During the quarter, KTA raised $2,400,000 through the issue of 30,000,000 ordinary shares at $0.08 per share and its cash and cash equivalent stood at the end of quarter $686,000.


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