Krakatoa Resources executive chairman Colin Locke talked with Proactive about the company's latest funding and exploration activities at the Zopkhito Antimony-Gold Project in Georgia.
Locke confirmed the successful raise of just over $1.3 million, aimed entirely at supporting the upcoming maiden diamond drilling campaign set to commence in July. “We attracted some very good quality sticky money into this raise,” Locke said, adding that the placement was invitation-only and included both new and existing shareholders.
According to Locke, the campaign will involve two rigs, with efforts underway to secure a third. He described the Zopkhito asset as holding a primary antimony resource grading 11%, derived from sampling only 16 of more than 60 adits. This drilling is set to confirm and expand on that historical data.
Locke also provided an operational update, stating that the access track has been mostly cleared and bridges repaired, confirming the project is on track for the July drilling kickoff.
In addition, Krakatoa is planning a second drill campaign at the Stone Tank target within its Mt Clere project, funded through a $220,000 state government grant. This target was identified among a shortlist of five standout gravity anomalies across Western Australia.
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