- Krakatoa Resources (KTA) has received a new exploration license, extending the size of the Mt Clere Project in Western Australia
- The new land extends Mt Clere to 1789 square kilometres and covers extensive, enriched monazite sands identified by BHP almost 30 years ago
- Krakatoa Resources is currently negotiating the final details for its heritage agreements with respective Native Title parties
- Once this is approved, the company is expecting to commence field activities in the near-term
- Krakatoa is up 10.3 per cent and is trading for 9.6 cents per share
Krakatoa Resources (KTA) has extended its size and scope at the Mt Clere Project in Western Australia.
The company has received a new exploration licence which is prospective for rare earth elements, heavy mineral sands and intrusion hosted nickel, copper, platinum group elements (PGE).
The new land extends Mt Clere to 1789 square kilometres and covers extensive, enriched monazite sands identified by BHP almost 30 years ago.
“Krakatoa initially applied for Mt Clere based on the tenure containing significant Rare Earth Element (REE) geochemical anomalies originally delineated by BHP Minerals and subsequently confirmed by Astro Mining in the 1990s,” the company told the market.
The project is on the Narryer Terrane, where Chalice Gold Mines (CHN) recently discovered Julimar.
“All tenements, including those, originally pegged for their rare earth’s potential, to also be explored for magmatic nickel-copper-PGE discoveries like the recent Julimar discovery by Chalice Gold Mines,” the company announced.
Krakatoa is currently negotiating the final details for its heritage agreements with respective Native Title parties. Once this is approved, the company is expecting to commence field activities in the near-term.
Earlier this week, Krakatoa completed testing on two deep ground penetrating radar (DGPR) targets at its Turon Project in New South Wales.
Results from these holes are expected in early November and, once these are received, the company will determine the next steps at the project.
Krakatoa is up 10.3 per cent and is trading for 9.6 cents per share at 2:54 pm AEDT.