- Krakatoa Resources (KTA) discovers ionic rare earth elements (REE) at the Rand Project in New South Wales
- In early 2021, the company drilled 43 aircore holes at the Rand Bullseye Magnetic targets to test multiple features and chargeability anomalies concealed by cover
- A total of 16 existing laboratory pulp samples were then selected for REE analysis with grades peaking at 1424 parts per million total rare earth oxides
- Further, Krakatoa has submitted strategic new regional landholding applications to expand the Rand Project by 2241 square kilometres
- Krakatoa is up a healthy 16 per cent on the market with shares trading at 5.8 cents
Krakatoa Resources (KTA) has discovered ionic rare earth elements (REE) at the Rand Project in New South Wales.
The Rand Project lies 60 kilometres north-northwest of Albury in an underexplored part of the Lachlan Fold Belt.
In early 2021, Krakatoa drilled 43 aircore holes, for 2762 metres, at the Rand Bullseye Magnetic targets to test multiple magnetic features and chargeable anomalies concealed by cover.
A total of 16 existing laboratory pulp samples were then selected for rare earth element analysis with the work revealing abundant qualities of gold, cerium, lanthanum, neodymium, praseodymium and yttrium.
Significant results include four metres at 1424 parts per million (ppm) total rare earth oxides (TREO) from 35 metres, seven metres at 1285ppm TREO from 42 metres and eight metres at 1230ppm TREO from nine metres.
A total of 19 samples then underwent digestion using a weak acid solution to test for weakly bound, highly soluble REEs.
Recoveries averaged 86 per cent from using the weak acid solution and ranged from 18 to 77 per cent within metasediments.
CEO Mark Major is excited by the results.
“We are excited with the recent rare earth element reconnaissance assay results. The review on the initial assay results identified anomalous REEs within the multielement program on many of the aircore samples,” Mr Major commented.
“We can now report we have identified significant levels of rare earth elements within the regolith profile of the bullseyes area; both within the metasediments and over the intrusives.”
Further, Krakatoa has submitted strategic new regional landholding applications, expanding the Rand Project by a further 2241 square kilometres.
The company will then undertake further aircore drilling over the newly granted land in the first quarter of 2022.
Krakatoa was up a healthy 16 per cent on the market, with shares trading at 5.8 cents at 1:11 pm AEDT.