Krakatoa Resources Ltd (ASX:KTA) earlier this week reported that 12 of 15 drill holes completed at its Zopkhito project in Georgia have intersected visible antimony mineralisation.
The company said the remaining three holes were not completed due to drilling difficulties. It also reported that underground sampling has shown similar results, with seven out of nine completed edits containing visible mineralisation. A photo released from one of the core samples was estimated to be 40% mineralised.
Krakatoa Resources told investors it expects this core to be high grade.
The company said two batches of surface drilling samples have been submitted to a laboratory in Turkey for assay. It plans to send a further batch of underground core samples shortly. Results from these samples are expected this quarter or by Q1 2026.
Krakatoa Resources also holds a foreign gold resource at Zopkhito totalling 7.10 million tonnes at a grade of 3.70%, or 825,000 ounces. It highlighted that only 16 of more than 60 edits were sampled to generate this resource, leaving scope for significant expansion.
The company said that surface drilling has been suspended for the winter due to hazardous conditions, but underground coring continues. It added that underground drilling allows direct targeting of mineralisation and offers the flexibility to produce JORC-compliant results.
Proactive:
Krakatoa Resources has intercepted visible antimony at the Zopkhito project in Georgia. For more on this, I'm joined by the company's Executive Chairman, Colin Locke. Colin, it's good to see you again. It’s been a fair while since we last caught up. How are you?
Colin Locke:
Yes, fine, thank you. Great to see you too.
Proactive:
It’s good to have you back on board. Colin, there's some fantastic news. The market has responded well to today’s announcement — 12 out of 15 completed holes intersected visible antimony. Your share price is up 8% on the news. What else can you tell us about those results?
Colin Locke:
Yes, this is obviously good news for our investors. It's the first time we've indicated visible mineralisation. You’re right — 12 out of 15 holes contained visible mineralisation. The other three weren’t completed due to drilling issues. So, everything we’ve drilled is mineralised.
Let’s also not forget that seven out of nine underground channel samples — the edits — show really good visible mineralisation. We showed a photo today of one core, and it’s estimated to be about 40% mineralised. It’s likely to be high grade.
Proactive:
All of this sounds fantastic for investors. All the assay results so far have gone to market. To top it all off, there’s reportedly some gold at Zopkhito too. What can you confirm there?
Colin Locke:
Yes, well, we haven’t issued any assays yet. We've sent two batches of surface drill samples to the lab in Turkey. The first batch of underground core samples will be sent shortly.
As for gold, we have a foreign resource of 7.10 million tonnes grading 3.70% — a fairly high grade — which represents 825,000 ounces. Investors should remember that the Soviets barely touched the gold. They focused on the antimony.
So, this gold resource has the potential to go into the millions of ounces. Let’s not forget that only 16 out of over 60 edits were sampled to define that resource. There’s massive scope to increase both the antimony and gold resources.
Proactive:
Now back to the antimony. Surface drilling is now on hold due to the start of the snow season across eastern Europe. But you’ve kept investors interested with today’s announcement, and there’s still plenty happening on-site. What should investors expect next?
Colin Locke:
We’ll be announcing lab results this quarter, with any luck. Yes, we had to shut down surface drilling — it was getting dangerous with snow and risk of landslides. But we’re delighted to be coring underground in the tunnels.
This allows us to keep working through the snow. That’s the beauty of it. Investors saw today’s core sample from that work — it was magnificent.
The beauty of underground coring is you go straight into the mineralisation. You can angle it in all directions to get a really good, JORC-compliant result.
Proactive:
So, assays from Turkey are pending, possibly out in the next month or Q1 2026. There’s also a growing focus on the gold potential at Zopkhito. Plenty for investors to watch in the coming weeks. Colin Locke, Executive Chairman of Krakatoa, thank you for your time.
Colin Locke:
Thank you. Great pleasure.