- Krakatoa Resources (KTA) has commenced a 10-hole reverse circulation drilling round at its Rand Gold Project in New South Wales
- The explorer is targeting magnetic linements below historical mines at the Bulgandry Goldfield area, which are mostly untouched despite recorded head grades of up to 265g/t gold
- This particular round of activity comes after Krakatoa completed 2760 metres of aircore drilling over the magnetic “bullseye” targets
- The efforts form part of KTA’s maiden drill programme at the project, which is situated in the Lachlan Fold Belt and covers an area of 580 square kilometres
- Krakatoa Resources shares are up 7.03 per cent following the announcement, trading at 6.1 cents
Krakatoa Resources (KTA) has commenced a 10-hole reverse circulation drilling round at its Rand Gold Project in New South Wales.
The explorer is currently in the midst of its maiden drill programme at the project, which is situated in the Lachlan Fold Belt and covers an area of 580 square kilometres.
Today, Krakatoa announced it had commenced a 1500-metre reverse circulation drill effort over the Bulgandry Goldfield area targeting magnetic linements below the historical mines.
According to the explorer, most of these linements have never been drilled despite recorded head grades of up to 265g/t gold.
The latest round of activity comes after Krakatoa completed 2760 metres of aircore drilling over the magnetic “bullseye” targets defined by recent aeromagnetic and induced polarization surveys.
The company says samples from the AC drills, with the exception of the last seven holes, have been sent to ALS Global with the last batch of samples due for delivery this week.
Results are expected to arrive within six to eight weeks due to backlogs.
Krakatoa Resources shares are up 7.03 per cent following the announcement, trading at 6.1 cents at 3:47 pm AEST.