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Highlights
Krakatoa Resources to commence diamond drilling at Zopkhito Antimony-Gold Project
Drilling completed at Mt Clere with analysis underway in Perth
Capital raised to fund Zopkhito drilling and corporate activities
Krakatoa Resources Ltd (ASX:KTA), listed on the All Ordinaries, is preparing to initiate its first drilling campaign at the Zopkhito Antimony-Gold Project in Georgia. The company has secured the necessary funding and finalised key preparations at the site. Drilling contracts have been signed, and platform construction is nearing completion.
The upcoming diamond drilling program, targeting quartz-antimony veins and adjacent geological features, is expected to commence during the current quarter. A combination of surface and in-adit drilling methods will be used, supported by drone magnetic and sub-audio magnetics surveys for target refinement.
Targeting Resource Conversion and Economic Assessment
Zopkhito hosts a foreign resource estimate that includes both antimony and gold. Krakatoa aims to transition this into a JORC-compliant resource within the current field season. The company also plans to conduct a preliminary economic assessment for the licence area, with initial drilling focusing on high-grade vein zones and potential extensions beyond the defined resource.
The campaign is designed to span multiple drill platforms and deliver comprehensive geological insights. Trialling in-adit portable core drilling is a strategic addition to the program to access otherwise challenging vein structures.
Drilling Completed at Mt Clere Stone Tank Prospect
In parallel with activities in Georgia, Krakatoa completed diamond drilling at the Stone Tank Prospect within its Mt Clere Project in Western Australia. The drilling focused on gravity anomalies identified at the Jagger and Richards targets. These anomalies are interpreted to indicate shallow subsurface systems possibly linked to critical mineralisation.
Core samples from the Mt Clere program are being processed in Perth, where logging, cutting, and laboratory assays are underway. Results from the program will assist in assessing the nature and scale of the geological structures at depth.
Funding Secured Through Two-Part Capital Raising
To support its exploration activities, Krakatoa has completed a two-phase placement. The capital raise will be directed towards funding the Zopkhito drill campaign, conducting geophysical surveys, supporting in-adit sampling, and covering corporate costs. A portion of the proceeds will also be allocated to further analytical work related to the Mt Clere project.
As of the end of the quarter, Krakatoa reported holding cash reserves and a drilling credit with its contractor, positioning it to sustain its operations through the next exploration phase.
Exploration Outlook Focused on Flagship Projects
No exploration activity was undertaken at Krakatoa’s Rand, Turon, Belgravia, or King Tamba projects during the quarter. The company’s current strategy centres on advancing its flagship Zopkhito project while evaluating the newly acquired data from Mt Clere.
Frequently Asked Questions
- What is Krakatoa Resources currently focusing on in Georgia?
Krakatoa is preparing to begin its maiden diamond drilling campaign at the Zopkhito Antimony-Gold Project, targeting high-grade vein systems. - Where has Krakatoa completed recent drilling in Australia?
The company drilled two holes at the Stone Tank Prospect in Mt Clere, Western Australia, aiming to evaluate gravity anomalies linked to critical minerals. - How is Krakatoa funding its current exploration activities?
Krakatoa has completed a two-part capital raise to support drilling, geophysical surveys, and operational requirements related to Zopkhito and Mt Clere.
