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Krakatoa prioritise high calibre targets

7 June 2022 12:24
ASX: KTA

Krakatoa Resources has prioritised 15 key sulphide targets from a moving loop ground electromagnetic survey over its Mt Clere project in Western Australia’s Yilgarn Craton, which is highly prospective for platinum group elements, nickel and copper.

The explorer now holds many walk-up targets with exceptional conductivity levels for the inaugural campaign.

Mt Clere is noted for its electromagnetic similarity to Chalice Mining’s iconic Julimar deposit’s estimated 10 million ounces of precious metals on a 900 thousand-ton metal trove.

The company said there was recognition of enormous potential after flying its airborne survey, and it had now confirmed the true high calibre nature of the targets.

“This area is an emerging region that is attracting a lot of attention now,” chief executive Mark Major said.

“Multiple targets have the potential to host significant massive sulphide mineralisation, and we could be on the cusp of something significant.”

Krakatoa is meanwhile planning an inaugural drilling campaign to test the targets with permitting and heritage surveys already commenced.

KTA’s Australian Stock Exchange-listed share price was trading at 7.5c today (10.46 am UTC+ 8 hours).

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