- Shares in small-cap explorer Traka Resources (TKL) are soaring today after the company unveiled some promising high-grade gold assays from the Mt Caitlin Project in WA
- Drilling at the site’s old Maori Queen and Sirdar mines has uncovered “the presence of open-ended high-grade gold mineralisation”
- Notable intercepts from the small campaign include one metre at 28.2g/t gold at Maori Queen and nine metres at 9g/t gold at Sidar
- Traka Resources is 58.8 per cent up and trading at 2.7 cents per share
Shares in small-cap explorer Traka Resources (TKL) are soaring today after the company unveiled some promising gold assays from the Mt Caitlin Project in WA.
The company recommenced drilling earlier this year at the site’s old Maori Queen and Sirdar mines and has today reported “the presence of open-ended high-grade gold mineralisation.”
Notable intercepts from the small campaign include one metre at 28.2g/t gold at Maori Queen and nine metres at 9g/t gold at Sidar.
Mineralisation at the Maori Queen mine began just 20 metres from the surface and remains in line with the mine’s previous main lode, which was previously excavated over 100 metres of strike length.
The company has reported seven separate intervals, across three holes, from the Maori Queen mine, all over one metre and above 1g/t gold.
Over at Sidar, two drillholes hit near-surface mineralisation, which is consistent with stock-work veining and other intrusive structures.
The company plans to extend the two drillholes at Sidar further down to target lower mineralisation but considers the initial findings an “excellent confirmation of mineralisation coming to near-surface position.”
Outside the historical mines, exploration is also targeting new geophysical anomalies, which were highlighted back in October by induced polarisation and aeromagnetic surveys. Results from these targets have yet to be released.
Traka Resources is 58.8 per cent up and trading at 2.7 cents per share at 1.09 pm AEDT.