Krakatoa Resources Ltd (ASX:KTA) is preparing to kick off a drilling program targeting high-priority and prospective late-time sulphide conductors within the Southern Cluster area of the Mt Clere Project in the Yilgarn Craton, Western Australia.
The program will be supported by a $180,000 drilling grant from the WA Government under the Exploration Incentive Scheme (EIS).
Notably, these sulphide targets were identified through a combination of airborne and ground EM surveys and geochemical and geological data.
Moving forward, heritage clearance is complete and drill services have been secured for drilling to commence this quarter.
“Prospective targets”
Krakatoa CEO, Mark Major said: “The successful application for the EIS grant shows the level of prospective targets the company has identified with our systematic exploration over the course of the last 18 months.
“We would like to thank the WA Government and acknowledge the DMIRS for their continued investment and support into greenfield exploration throughout the state.
“We have been planning to drill these targets since June and are now on the cusp of undertaking the initial maiden drilling.
"Our team has recently completed the heritage survey work and has now secured a suitable drill rig to start before the end of this quarter.”
Next steps
Krakatoa recently completed a successful heritage survey over the southern cluster targets and is now progressing with the site preparation works.
All permitting has been complete and a drill rig has been secured for the anticipated drilling program set to kick off this quarter.
About Mt Clere
The Mt Clere Project is at the north-western margins of the Yilgarn Craton of WA, where the company holds 2,310 square kilometres of highly prospective exploration licences.
These licences are prospective for rare earth elements, heavy mineral sands hosted zircon-ilmenite-rutile leucoxene and gold and intrusion-hosted nickel-copper-cobalt-PGEs.
Krakatoa has recently discovered the presence of Ion adsorption clays enriched in REE within extensive laterite areas and is also investigating the monazite sands in vast alluvial terraces and the possibility of carbonatite dyke swarms.
The company has also identified multiple and discrete late-time EM conductors via VTEM and ground MLEM surveys
These conductors are thought to be basement rocks enriched with massive sulphide mineralisation and will be drill tested in 2022.