- Krakatoa Resources has commenced exploration activities at its Bell Valley target in its Belgravia Project
- Bell Valley represents one of six initial targets on the Belgravia project
- Field-based exploration activities at the Bell Valley will assist the preparation for a maiden drill program
- On market close, Krakatoa is up 2.22 per cent and is trading at 4.6¢ per share
Krakatoa Resources has commenced exploration activities at its Bell Valley target in its Belgravia Project.
Bell Valley represents one of six initial targets on the Belgravia project. Krakatoa completed due diligence and it highlighted significant exploration prospectively.
The Belgravia Project is located in the Lachlan Fold Belt in New South Wales, near the regional centre of Orange. The East Lachlan region constitutes the largest porphyry province in Australia.
The project lies near Newcrest Mining’s Cadia Valley Mine and Alkane Resources’ Northern Molong Porphyry Project and is near road, rail, power, gas and water infrastructure.
The company has moved swiftly to secure land access to the targeted area. Key land access agreements have been signed, which means Krakatoa can start exploration activities on the Bell Valley target.
Field-based exploration activities at the Bell Valley will assist the preparation for a maiden drill program.
During due diligence within the Bell Valley target, the company identified the Bella Prospect, a “doughnut” shaped magnetic pattern.
Bella has a diameter of approximately 500 metres, is near the Copper Hills Deposit.
“During field due diligence, large-scale and pervasive alteration was identified at Bell Valley,” the company told the market.
“The widespread chlorite-epidote ± carbonate alteration is consistent with intersecting the outer propylitic assemblage of a mineralising system,” the company said.
Rangott Mineral Exploration and Ian Cooper, experienced porphyry geologist and mining engineer, will lead the exploration activities.
On market close, Krakatoa is up 2.22 per cent and is trading at 4.6¢ per share.