- Rock chip samples from Krakatoa Resources’ (KTA) Rand Gold Project have returned high-grade results
- Assay results confirm the potential for economic grades of gold up to 80.6g/t and minor silver up to 56.3g/t
- The prospect covered a small part of the extensive Bulgandry Goldfields, which is home to many historical mines that produced gold at high grades of up to 265g/t
- Krakatoa is halfway through a regional scale auger geochemical survey covering all of the known Bulgandry goldfields and underlying magnetic lineaments to define the full extent of the system
- Krakatoa Resources is up 8.06 per cent, trading at 6.7 cents per share
Rock chip samples from Krakatoa Resources’ (KTA) Rand Gold Project, located in southern NSW, have returned high-grade results.
The company today revealed that results from all 19 samples taken in January last year have shown weathered quartz veins with textures ranging from massive to laminated with ranging porosity.
The assay results confirm the potential for economic grades of gold up to 80.6 g/t and minor silver up to 56.3 g/t, as well as a variety of highly elevated base metals.
The samples were taken during a reconnaissance field program, that was part of a landowner consultation visit, from silage face outcrop, subcrop exposure, surface outcrop and historical mine dump areas.
The Rand Gold Project covers 580 square kilometres and is located within an underexplored part of the mineral enriched Lachlan Fold Belt .
The company says the prospect covered only a small part of the extensive Bulgandry Goldfields, which is home to many historical mines that have produced gold at high grades of up to 265g/t.
“These results not only demonstrate the potential calibre of the gold system but have confirmed the geochemical signature of an intrusive related gold system at Bulgandry,” commented Krakatoa’s Chief Executive Officer, Mark Major.
Krakatoa is halfway through a regional scale auger geochemical survey covering all of the known Bulgandry goldfields and underlying magnetic lineaments potentially linked with the mineralisation system.
Marks says the company’s focus is now to “define the full extent of the system through the auger survey, complete reconnaissance drilling under the unexplored areas of historical working and to continue with our systematic exploration strategy”.
Krakatoa Resources is up 8.06 per cent, trading at 6.7 cents per share at 2:50 pm AEDT.