Krakatoa Resources Ltd (ASX:KTA) has started its first drilling campaign at the Zopkhito Sb-Au Project in Georgia, marking a pivotal step in advancing the asset. The 7,000–10,000 metre diamond program is designed to test areas where significant mineralised antimony and gold veins have been documented during earlier underground development. These workings formed the basis of a foreign resource estimate that identified 225,000 tonnes at 11.6% Sb and 7.1 million tonnes at 3.7 g/t Au.
The current program will provide modern geological and assay data, enabling Krakatoa to validate and potentially expand the historical results into a JORC 2012-compliant mineral resource. This transition is expected to build investor confidence by underpinning the project with internationally recognised reporting standards.
Chief executive officer Mark Major described the drilling program as a milestone for the company.
“This is a significant event for the project, being its first-ever drill campaign and a major step for the company as we look to modernise the resource estimation to a JORC classification system,” Major said.
He confirmed that one rig is currently operating on site, with a second rig expected to mobilise shortly.
“It has been a great effort for the team to get to this stage and we look forward to advancing the progress of our exploration efforts over the course of the next few weeks.”
The program is expected to define both the scale and grade potential of Zopkhito’s mineral system, providing the company with the information required to assess development options.
Georgia’s strategic location
Georgia is a nation strategically located between Europe and Asia. With a population of 3.7 million, Georgia has demonstrated strong economic performance, averaging 5.2% annual GDP growth from 2012 to 2023 and recording 7.5% growth in 2023 despite global headwinds.
The country consistently ranks highly in global competitiveness, including number two for starting a business and number one for budget transparency. Its extensive network of free trade agreements, including with the European Union, China, Turkey and the Commonwealth of Independent States, provides duty-free access to markets representing around 2.8 billion people.
Georgia’s pro-business environment and streamlined customs policies enhance its status as a regional trade hub and attractive jurisdiction for mining investment, reinforcing the strategic value of Krakatoa’s exploration activities with the Zopkhito Project.