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- Krakatoa Resources (KTA) posts maiden soils assays from the Rang Gold Project in NSW
- The company identifies more than 20 pathfinder multi-element anomalies, both in and around the site’s historical gold workings
- The results reach as high as 29.6 parts per million gold
- CEO Mark Major says the results outline “what appears to be a significant series of large intrusive-related gold systems”
- Krakatoa shares are trading up 7.02 per cent at 6.1 cents per share at 10.45 am AEST
Krakatoa Resources (KTA) has unveiled the maiden results from its recent soil assay effort at the Rang Gold Project in NSW.
Following the work, the company identified more than 20 pathfinder multi-element anomalies, bolstering its view that the site may contain new, blind intrusive-related gold systems.
The first of its kind in the area, the program covered approximately 32 kilometres squared. Around 800 samples were collected from almost as many sites before being processed for their part-per-million gold values.
The map below outlines the results, which reached as high as 29.6 parts per million gold.
Notably, one of the new gold anomalies outlined in the results extends three kilometres across the Goodwood, Lone Hand and Coonerty & Murphy’s historical gold mines and a second surrounds the past-producing Show Day, Junkyard and Welcome Find mines.
A further four new gold anomalies were identified outside the historical workings and several multi-element anomalies were also noted across the site.
With the results in hand, CEO Mark Major believes the findings outline “what appears to be a significant series of large intrusive-related gold systems.”
“Elevated levels of gold and pathfinder elements have defined several new robust gold and multi-element anomalies, some of which are coincident with our magnetic lineaments and supported by our recent rock-chip sampling,” he said.
“All the known historic workings showed coherent anomalism, the majority of which have had not been subjected to modern exploration before now.”
Looking forward, the company will follow up the survey with in-fill and extensional geochemical surveys to build a more detailed pictures of the project’s new underlying structures.
Krakatoa shares were trading up 7.02 per cent at 6.1 cents per share at 10.45 am AEST.
