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Krakatoa Resources (ASX:KTA) kicks off AC drilling at Sugarloaf

Summary

  • Krakatoa Resources Limited has initiated AC drilling over the highly prospective target at the Belgravia Project.
  • A 3-D magnetic inversion modelling and interpretation of all the exploration data has been undertaken over the highly prospective targets.
  • KTA has also commenced a large soil geochemical sampling program and extends the 2020 soil program.

Aggressive explorer Krakatoa Resources Limited (ASX:KTA) has been engaged in successful exploration activities across project portfolio.

KTA has received encouraging results from the recently concluded exploration activities at its projects. The Company remains committed for further exploration and unlocking significant value through its exploration activities at these highly prospective land assets.

GOOD READ: Krakatoa Resources discovers extensive gold anomalies at Rand  

AC drilling commenced at Sugarloaf

Lately, KTA has initiated Air-core (AC) drilling at the much-anticipated Sugarloaf Cu-Au target at Belgravia Cu-Au Porphyry Project located in Lachlan Fold in NSW. This target is placed 7 kms South-East of the Copper Hill Deposit that comprises 890,000oz gold and 310,000t copper.

Proposed location of AC drill holes (Source: KTA Announcement 16/06/2021)

The Sugarloaf prospect is located in the copper-gold province of the Lachlan Fold Belt within an Ordovician volcanic belt which is a host to Copper Hill, Browns Creek, Cadia and the Boda discovery.

The Sugarloaf prospect has been interpreted to be a prospective intrusion underlying the geophysical anomaly’s centre with prospective skarn mineralisation favourably formed along the faulted northwest contact.

The target is also believed to be prospective for mesothermal vein gold deposits on splays to multiple substantial faults and epithermal gold-silver and contact-metasomatic gold-base metals deposits.

PREVIOUS UPDATE: Krakatoa Resources cranks up exploration at Rand and Mt Clere in May  

Significance of the program

This maiden program comprises of approximately 40 holes and 700 soil sampling sites. Also, the Company has used data generated from the DGPR survey, soil geochemistry and magnetic inversion to define these targets.

After a period of extensive discussions, KTA has recently secured land access for its maiden AC drilling program at the Sugarloaf target area.

KTA intends to test the near-surface expression of the following through shallow drilling:

Source: KTA Announcement 16/06/2021

RAND PROJECT UPDATE: Krakatoa Resources (ASX:KTA) announces high-grade gold results at Rand Project

A 3-D magnetic inversion modelling has been concluded and KTA has executed interpretation of all the exploration data which forms part of the progressive systematic exploration program over these highly prospective targets.

KTA will not undertake the standard geophysical method of induced polarisation as a high voltage powerline over the sugarloaf anomalies is in close proximity.

DID YOU READ: Krakatoa Resources (ASX:KTA) kicks off exploration at Mt Clere REE Project  

KTA has initiated a large soil geochemical sampling program and has already collected more than half of the samples and is an extension of the 2020 soil program.

Source: KTA Announcement 16/06/2021

Once the present soil programs and AC drilling are completed and reviewed, KTA will define target zones for further drilling. The Company looks forward to wrapping this program as soon as possible, pending accessibility to the land.

GOOD READ: Krakatoa Resources (ASX:KTA) wraps up maiden drill program at Rand

The KTA stock closed at AU$0.054 on 16 June 2021.

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