- Krakatoa Resources (KTA) further expands its Dalgaranga critical metals project in Western Australia
- The gold and copper explorer was granted additional exploration licences in June and was recently first drawn in a ballot over numerous graticular blocks
- Both exploration licence areas significantly expand the exploration potential around Dalgaranga
- Krakatoa will undertake soil and rock geochemical surveys over the southern pegmatite swarm and other high priority targets
- Krakatoa is up 4.69 per cent and is trading at 6.7 cents per share at 12:13 pm AEDT
Krakatoa Resources (KTA) has further expanded its Dalgaranga critical metals project in Western Australia.
The gold and copper explorer was granted additional exploration licences in June and was recently first drawn in a ballot over numerous graticular blocks.
Both areas significantly expand the exploration potential around Dalgaranga.
The project is highly prospective for tantalum, lithium, niobium, tungsten, tin and rubidium.
Prices of speciality metals have risen over the past few years. This demand has come from the rapid evolution of the advancements in technologies of vehicles, telecommunications and renewable energy.
Krakatoa will undertake soil and rock geochemical surveys over the southern pegmatite swarm and other high priority targets.
CEO Mark Major said the Dalgaranga project had been strengthened due to the rising demand, prediction of further demand and price increases of critical and strategic metals.
“The company recognised the project’s potential back in 2016 when it acquired the initial Dalgaranga asset which is known to have significant remnant material outside the historical shallow pit and discovered the presence of other critical metals,” he said. “Since then, we have been securing additional ground which is all prospective.”
“We now have a perfect storm. The rubidium market is currently selling at around $1.4 million per tonne; tin, lithium and niobium have all increased significantly in price over the past five years and tantalum is still holding strong. Mix this with the Dalgaranga pegmatites having some of the highest, if not highest rubidium grade material in Australia, and shareholders are set to be substantially rewarded,” Mr Major concluded.
Krakatoa was up 4.69 per cent, trading at 6.7 cents per share at 12:13 pm AEDT.