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

Summary

  • Krakatoa has initiated extensive reconnaissance, mapping, and geochemical survey over the Mt Clere project.
  • The highly prospective Mt Clere project indicates a significant opportunity for KTA through REE deposits.
  • KTA has undertaken the Stage 1 reconnaissance mapping and the commencement of Stage 2 stream and rock geochemical sampling are progressing.

Aggressive explorer Krakatoa Resources Limited (ASX:KTA) has yet again kicked off another exploration program at its fully owned Mt Clere REE Project, within the Narrayer Terrane.

The latest work commenced by KTA is an extensive reconnaissance, mapping, and geochemical survey.

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

Exploration activities kick off at Mt Clere

KTA’s Mt Clere Project is a highly prospective opportunity for the Company as it hosts significant Rare Earth Element (REE) geochemical anomalies. These anomalies were first defined by BHP Minerals and afterwards verified by Astro Mining in the 1990s.

Breakaway located in the upper catchment of E52/3731 (Source: KTA Announcement 04/05/2021)

A low-impact exploration and reconnaissance commenced by KTA spans over the extensive 1,080km2 landholding, which is presently held under freshly granted licences.

Recently, the CEO of KTA, Mark Major, along with consultant geologists, undertook a seven-day field program during which the Company marked the onset of an extensive geochemical survey. The survey comprised collecting stream sediment and rock samples over areas where permission has been granted.

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Currently, the sampling work is continuing and is anticipated to conclude within the week.

Upcoming plan of action

KTA looks forward to implementing a staged approach to exploration activities over the massive landholding. The Company has already concluded the Stage 1 reconnaissance mapping and the commencement of Stage 2 stream, and rock geochemical sampling is presently underway over zones where approvals have been acquired for low-impact exploration.

Krakatoa exploration personal showing localised outcrop and surface topography (Source: KTA Announcement 04/05/2021)

KTA intends to expand the Stage 2 program further upon the completion of heritage/regulatory approvals or the granting of additional applications.

The exploration program shall comprise preliminary field reconnaissance, geological and geochemical mapping, sampling of geological outcrops, as well as stream sampling.

IMPORTANT DISCUSSION: Krakatoa Resources expands area of interest at Sugarloaf Prospect post promising soil results  

The KTA stock was trading at AUD0.062 with an AUD16.73 million market capitalisation.

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