Krakatoa Resources Ltd (ASX:KTA) has hit widespread rare earth elements (REEs) during infill and extensional drilling at its Mt Clere project in WA’s Yilgarn Craton.
The explorer confirmed clay-hosted REEs over a 5-kilometre extent at Mt Clere’s Tower prospect, while mineralisation at Tower West runs for 3 kilometres and remains open.
Resource drilling across the property has showcased the mineralisation’s consistency across thickness, grade distribution and depth. Some of the best hits include:
- 53 metres at 722 parts per million (ppm) total rare earth oxides (TREO) from surface, including 29 metres at 1,117ppm from 24 metres;
- 48 metres at 653ppm from 6 metres;
- 47 metres at 821ppm from surface, including 27 metres at 1,205ppm from 20 metres;
- 43 metres at 551ppm from 4 metres; and
- 42 metres at 769ppm from 10 metres, including 32 metres at 908ppm from 12 metres.
A maiden mineral resource is in the works for the Tower prospect, while auger drilling has kicked off below the mineralised plateau in a bid to extend the REE mineralisation.
“A fantastic result”
Krakatoa CEO Mark Major said drilling had confirmed a substantial clay-hosted REE discovery at Mt Clere’s Tower region.
“The continued thick clay regolith host has reaffirmed the exploration model and substantiated the extensive prospective area,” he explained.
“It is a fantastic result and represents a major step forward for shareholders as we are now advanced to define our maiden JORC mineral resource estimate (MRE).
“There is still a lot of upside as we still have a lot of area untested around the Tower region, as well as in the vast 2,300 square kilometre tenement package.
“We will look at these areas during 2023, but right now we are looking forward to developing the MRE and completing the initial metallurgical review.”
Digging deeper
Krakatoa recently drilled 100 aircore holes over Mt Clere’s Tower prospect, with 12 of those targeting mineralisation at Tower West.
All things considered, resource drilling indicates that key magnet rare earth oxides (such as neodymium, praseodymium, dysprosium and terbium) exist at up to 2,058ppm and average 254ppm for TREO intersections measuring more than 500ppm.
Other strong intersections include:
- 39 metres at 582ppm TREO from surface;
- 38 metres at 642ppm from surface;
- 33 metres at 948ppm from 6 metres, including 10 metres at 2,116ppm from 28 metres;
- 31 metres at 1,036ppm from 24 metres;
- 26 metres at 1,180ppm from 18 metres;
- 29 metres at 1,117ppm from 24 metres;
- 23 metres at 949ppm from 10 metres;
- 22 metres at 1,096ppm from 20 metres;
- 22 metres at 1,466ppm from 20 metres, including 12 metres at 2,348ppm from 22 metres; and
- 14 metres at 1,924pmm from 16 metres.
With the latest assays in hand, work turns to the pioneer MRE for the Tower prospect.
While work to date has been confined findings in the aircore region, it’s hoped the current auger program will justify further drilling and add to the project’s REE tonnage.
Meanwhile, initial metallurgical leach tests continue at Australia's Nuclear Science and Technology Organisation as the company looks to optimise its extraction workflows.
Krakatoa signed up with a promise to update shareholders with a pipeline of news as the project develops.