- Krakatoa Resources (KTA) discovers fresh rock chip samples with high-grade lithium at its King Tamba project in Western Australia
- The best result sits at 1.7 per cent lithium oxide and resides less than 200 metres from where a sample of more than four per cent was previously discovered
- The company is expanding its soil sampling activity all over King Tamba
- The company has also discovered a potential niobium target
- Krakatoa shares last traded at 3.1 cents
Krakatoa Resources (KTA) has discovered fresh rock chip samples with high-grade lithium at its King Tamba project in Western Australia.
This marks the second lithium discovery from the company this month.
While today’s results are based on rock chip samples, it’s the latest win for a company wasting no time in mapping all of its acreage for the most lucrative battery metal, lithium oxide.
The company reported one flagship sample at 1.7 per cent lithium oxide only 125 metres southeast of the company’s Wilsons prospect, where high-grade rock chips have also been found – including one at 4.3 per cent lithium oxide.
Additionally, the company also discovered new pegmatite targets on-site with assays pending. Krakatoa has labelled its new target the ‘MGM Prospect.’
A potential niobium deposit has also been found near an existing open pit which is also prospective for tantalum, often considered a pathfinder element and supporting evidence of potential further lithium mineralisation.
In the background, the company is readying the drill rigs to explore these new targets.
Additionally, the company is now expanding its soil sampling program to cover the entire King Tamba project area after promising first-stage results in a limited area.
“More encouraging results continues to highlight the prospectivity of the new Wilsons and Loaders high-grade lithium rock chip discoveries with a potential third discovery at MGM,” KTA CEO Mark Major said.
“Having mineralised pegmatite systems repeated within “a stone’s throw” of each other is a favourable key aspect when considering a suitable tonnage development opportunity.”
Krakatoa shares last traded at 3.1 cents.