Krakatoa Resources has identified a score of high priority targets using high-tech survey equipment at the highly prospective Mt Clere project, located in the North-Western margins of the Yilgarn Craton of Western Australia.
The news comes for the company, sitting on a 2300-square kilometre of rare earth, nickel-copper-cobalt and platinum group element potential, as supply concerns grow among European automakers focused on developing the next generation of electric vehicles.
The company said the data records some of the best responses representing potential basement conductors seen in several decades.
“We now have world-class late time conductive targets at a key structural intersection, close to the craton margins,” chief executive Mark Major said.
“All the hallmarks for company defining discoveries, we look forward to proving up the priority targets with ground exploration activities followed by drilling as soon possible.”
The next steps will be ground-based moving loop electromagnetic and geochemical surveys to define conductor plates and surface geochemical outcrops for drill target selection, beginning soon.
Work has commenced obtaining all statutory approvals to avoid delays in drill testing over several higher-ranked targets cluster areas.
KTA’s Australian Stock Exchange-listed price is trading at 5.3c (9:57 am UTC+8 hours)