- Krakatoa Resources (KTA) has received more high-grade gold results from rock chip samples taken from the Rand Gold Project in New South Wales
- In February, the company undertook a field work program to test unexplored historical workings
- Pleasingly, the program returned economic gold grades of up to 21.7g/t with three samples returning over 10g/t
- Additionally, most samples returned elevated pathfinder elements, some of which have similar characteristics to intrusive-related gold systems
- Krakatoa is now waiting on assay results from a recently completed 43-hole aircore drilling program
- Company shares ended the day in the grey trading at 6 cents
Krakatoa Resources (KTA) has received more high-grade gold results from rock chip samples collected from the Rand Gold Project in New South Wales.
The Rand Project is located 60 kilometres north-northwest of Albury and covers 580 square kilometres in an under-explored region of the Lachlan Fold Belt.
In February, the company conducted a reconnaissance field work program at the Gold Hill property to test previously unexplored historical workings.
Pleasingly, the sampling program returned economic gold grades of up to 21.7g/t with three samples returning over 10g/t.
Aside from gold, most samples returned strongly elevated pathfinder elements, some of which are highly anomalous with similar characteristics to intrusive-related gold systems (IRGS).
“The results from this second batch of rock-chip samples have demonstrated the widespread nature of high-grade gold across the unexplored Bulgandry Goldfields. They further demonstrate the potential of the system and have further confirmed the geochemical signature of an IRGS,” CEO Mark Major said.
Krakatoa also completed a 43-hole, 2760-metre aircore drilling program over the Bullseye magnetic targets within the Rand Project. Assay results are pending.
Now, the company is undertaking a 1500-metre reverse circulation drilling program which is targeting historical mines that haven’t been drill tested.
Company shares ended the day in the grey trading at 6 cents.