Krakatoa Resources Ltd (ASX:KTA) has signed a binding tenement option and sale agreement to divest exploration licence EL8153 (the Belgravia Project) in the Lachlan Fold Belt, NSW, to Agriculture Equity Investments Pty Ltd, an unrelated party, for total consideration of $350,000 (ex GST). The funds will allow KTA to sharpen its focus on advancing its Zopkhito Antimony-Gold Project in Georgia.
The divestment forms part of the company’s strategy to streamline its portfolio and concentrate on advancing its European antimony-gold asset within the growing critical minerals supply chain.
The deal grants Agriculture Equity Investments an exclusive option through December 31, 2025, to acquire 100% of EL8153, including rights and technical data, via a non-refundable $100,000 option fee and a further $250,000 payable on exercise of the option.
Completion remains subject to satisfactory due diligence and other customary closing conditions.
“This transaction is aligned with Krakatoa’s strategy to streamline its project portfolio and direct its resources towards JORC conversion and expansion of the historic foreign estimate of 225,000 tonnes at 11.6% Sb and 7.1 million tonnes at 3.7 g/t Au1 at the Zopkhito Antimony-Gold Project in Georgia, Eastern Europe,” executive chair Colin Locke said.
Program Objectives and Current Focus at Zopkhito
KTA’s current exploration program combines historical datasets with new geological mapping and assay data, integrated through advanced 3D modelling software. Key objectives include:
- Validating historical high-grade results within and between adits.
- Expanding drilling coverage to define the geometry and extent of the quartz–stibnite vein systems and associated gold zones.
- Generating sufficient data to support a maiden JORC-compliant Mineral Resource estimate.
- Establishing a platform for future resource growth across the broader Zopkhito licence area.
Zopkhito represents a significant opportunity for Krakatoa to support Europe’s transition toward secure and diversified critical mineral supply chains.
Dual diamond drill rigs are currently active across priority targets, with underground sampling and drilling advancing in tandem.
Just last week, Krakatoa began an underground drone and LiDAR campaign to access previously unreachable workings and move the project toward a maiden JORC-compliant resource.
The company has begun high-resolution, pre-entry surveying with an Elios-3 drone and gas monitoring inside accessible historical adits to safely map underground workings and pinpoint sampling targets along high-grade antimony veins and gold-rich alteration halos.
Read more: Krakatoa Resources deploys drone LiDAR to expand exploration at Zopkhito project
A steady stream of operational updates and assay results is anticipated through late 2025 as Krakatoa progresses toward its initial JORC Resource milestone.
Strategic Importance of Zopkhito
Antimony is designated as a critical mineral by both the European Union and the United States due to its essential role in energy storage, advanced materials, and defence applications. With around 90% of global supply currently controlled by China, demand for reliable, Western-aligned sources is intensifying.
Located within Europe’s critical minerals corridor, Zopkhito is one of the few emerging antimony–gold projects offering direct exposure to European markets. The project also benefits from Georgia’s supportive mining framework, well-developed infrastructure, and free-trade agreements with the EU and other key trading partners.