Krakatoa Resources Ltd (ASX:KTA) has begun operations with a second drill rig at the Zopkhito antimony-gold (Sb-Au) Project in Georgia, Eastern Europe. The company holds an exclusive option to acquire up to 80% of the granted mining licence covering the project.
The expanded drilling program, now targeting 7,000–10,000 metres, is designed to test zones between historical adits where Soviet-era and more recent sampling identified high-grade mineralisation. Drilling will assess the continuity of mineralisation beyond the adits, define the extent of gold alteration systems, and evaluate quartz–antimony vein development.
“Having a second drill rig commencing on-site so soon after the first one commenced last week is a very positive step in building momentum across our maiden drilling program at Zopkhito. Operating in tandem, the two drill rigs will be invaluable in advancing our efforts to modernise the historical foreign resource to a JORC-compliant Mineral Resource," Krakatoa CEO Mark Major said.
"Our strategy is to systematically test the mineralised zone between the adits, where both Soviet-era and more recent sampling have highlighted high-grade antimony and gold mineralisation. By targeting these areas, we aim to not only validate the historical work but also expand our understanding of the broader gold alteration system and quartz–antimony vein development.
"Over the coming months, this program will be critical in shaping our understanding of this world-class project and laying the foundations for future work."
Target generation
Target generation has been guided by modelling historic adit assay results, including Soviet-era data and samples collected during 2013–2014. Using Leapfrog software, these results were integrated with Soviet resource block sections to refine drill hole placement. Several priority targets have been identified, with drill traces detailed in Figures 1 to 3 below:
Plan view of drill planning layout with proposed drill platform layouts and the current active platforms 2 and 3. Active platforms show proposed drill hole trace projections.
Top: Front of view (looking north west) of the 4 main veins (transparent purple) showing the areas with high recorded antimony (bubbles of red to yellow- larger the bubble higher the grade) and proposed drill hole traces showing the targets zones for the maiden drilling campaign. Bottom: Same as above with topography overlay.
Top: Looking towards the South through the deposits showing the adit areas with high recorded antimony (bubbles of red to yellow - larger the bubble higher the grade) and proposed drill hole traces showing the proposed targets zones for the maiden drilling campaign. Middle: same as Top with Vein 2 and Vein 6 shown closer up; Bottom: with Soviet block model image (superimposed) of Vein 2 and the proposed drill hole traces and targets zones.
Key program objectives include progressing the conversion of Zopkhito’s foreign resource estimate into a JORC-compliant Mineral Resource. The project currently hosts a foreign estimate of:
- 225,000 tonnes at 11.6% Sb for 26,000 tonnes contained antimony, and
- 7.1 million tonnes at 3.7 grams per tonne gold for 815,119 ounces contained gold.
"At a time of record gold and antimony prices, Zopkhito offers a strategically significant resource opportunity in Europe. The global supply of antimony is in structural deficit amid strong demand growth from the renewable energy and defence sectors," Major said.
"I’m deeply grateful to our team for their continued efforts on the ground, and we look forward to delivering steady progress and updates as Zopkhito continues to take shape.”