Krakatoa Resources (ASX:KTA) discovers high-grade lithium at King Tamba, WA

• Krakatoa Resources (KTA) returns multiple rock-chip results at more than two per cent lithium oxide from its King Tamba project in Western Australia
• Peak assays include 4.3 per cent lithium oxide, 1.7 per cent rubidium oxide and 0.5 per cent cesium oxide
• A mapping program and geochemical sampling were carried out in April, collecting a total of 61 rock chips and 251 soil samples
• Planning has started for an imminent RC drilling program
• Shares are up 113 per cent to trade at 4.9 cents at 10:52 am AEST

Krakatoa Resources (KTA) has returned multiple rock-chip results at greater than two per cent lithium oxide from its King Tamba project in Western Australia.

Peak assays included 4.3 per cent lithium oxide, 1.7 per cent rubidium oxide and 0.5 per cent cesium oxide.

“The results are very encouraging, with a high-tenor multielement soil anomaly present across multiple sample lines and even more impressive it is supported with a series of six samples from an outcropping pegmatite target area returning lithium oxide values in excess of 1 per cent, with a peak result of 4.3 per cent lithium oxide from sample KS04381 at the newly defined Wilsons Prospect,” KTA CEO Mark Major said.

The company carried out a mapping program and geochemical sampling at the project in April, collecting a total of 61 rock-chip and 251 soil samples, which contained elevated lithium concentrate anomalisms.

This comes after delivering an “impressive” maiden mineral resource estimate in March which included five million tonnes at 0.14 per cent rubidium and lithium, containing 7300 tonnes of each mineral.

The resource estimate was larger than the company expected with mineralisation in the area lying close to surface and remaining open in all directions.

Krakatoa has begun preparations for drill testing the lithium potential of King Tamba below surface.

KTA shares shot up 113 per cent to trade at 4.9 cents at 10:52 am AEST.