- Krakatoa Resources (KTA) announces a maiden exploration target for the Tower prospect in WA
- The exploration target stands at 87 to 519 million tonnes grading between 580 and 1120 parts per million (ppm) total rare earth oxides (TREO)
- Krakatoa says the exploration target highlights the potential of the Tower prospect which is just one of many prospective ionic clay REE deposits within the Mt Clere project
- Testwork is currently underway on previous drill core samples and will be followed by infill and resource definition drilling around the Tower prospect area
- Krakatoa shares are trading 1.22 per cent in the green at 8.3 cents at 11:25 am AEST
Krakatoa Resources (KTA) has announced a maiden exploration target at the Tower prospect.
The Tower prospect is reportedly one of many prospective ionic clay rare earth element (REE) prospects at the company’s wholly-owned Mt Clere project in the Yilgarn Craton of Western Australia.
Tower’s initial exploration target stands at 87 to 519 million tonnes grading 580 to 1120 parts per million (ppm) total rare earth oxides (TREO).
Krakatoa estimated the exploration target using modelling of 39 aircore holes drilled around the Tower prospect in December last year.
This drilling aimed to investigate and test the potential for “well-developed” clay-rich regolith profiles that could be prospective for ion adsorption clay (IAC) REE mineralisation.
Positively for the company, analytical results displayed widespread REEs with “abundant” quantities of magnetic and critical REEs.
Assays include 15 metres at 792 ppm TREO from four metres, 24 metres at 526 ppm TREO from four metres, nine metres at 778 ppm TREO from 24 metres, and four metres at 1156 ppm TREO from 12 metres.
CEO Mark Major said the discovery of clay-hosted REEs has been enhanced with the initial exploration target which is a “very exciting milestone.”
“This could well be one of the largest clay-hosted REE deposits within the southern hemisphere. We have only explored one of the many clay-hosted REE areas identified within the extensive land package at Mt Clere,” Mr Major said.
Krakatoa is now undertaking initial diagnostic leach tests on various samples from previous drilling ahead of a new drilling program to infill and extend the traverses within the Tower prospect.
The company may also complete expanded drilling to potentially deliver a maiden JORC mineral resource estimate.
Krakatoa was trading 1.22 per cent in the green at 8.3 cents at 11:25 am AEST.