FREE DAILY STOCK MARKET NEWS

FREE DAILY STOCK MARKET NEWS

Krakatoa open up critical drilling

5 July 2022
ASX: KTA
Jack Baker

Krakatoa Resources have finished up drilling and can begin forging a maiden resource from a diverse platter of critical minerals at its Dalgaranga project 70 kilometres from Mt Magnet in Western Australia.

The campaign has uncovered open zones, further supporting expansive pegmatites enriched in rubidium, tantalum, caesium, niobium and lithium.

Sample chip trays showing zones of pegmatite intersections

 

Thick, open pegmatites bearing rubidium are a prized confirmation for the company, with the mineral in high demand for its varied technological uses.

Additionally, the company said global demand for other identified rare earth continued to rise.

“The company recognised the project’s potential, and the current drilling has highlighted this with extensions of the main pegmatite being identified and remaining open,” chief executive Mark Major said.

“This compliments the thick shallow pegmatite already intersected in the reconnaissance holes to the south — the drilling has been very successful, and we now await the assay results with some excitement.”

All samples have been sent for analysis, and work is ongoing to model the pegmatites in detail for maiden resource estimation.

KTA’s Australian Stock Exchange-listed share price was trading at 5.3c today (12.49 pm UTC+ 8 hours).

COMPANY OVERVIEW

Krakatoa Resources Limited (KTA) are committed to the acquisition and value addition of mineral and energy projects with a focus on high value metals. Krakatoa’s mission is to emerge into a prominent electrical energy, precious metal and critical elements producer. The board is committed to significantly increasing shareholder value by aggressively, acquiring and developing projects containing gold, copper and critical elements essential for technology and defence applications.

COMPANY INFORMATION

ASX: KTA

Website

https://www.ktaresources.com/
https://www2.asx.com.au/markets/company/kta

FREE DAILY STOCK MARKET NEWS

Join our mailing list to receive the latest stock market news.

You have Successfully Subscribed!