- Krakatoa Resources (KTA) has launched a drill program at its wholly owned Rand Gold Project in southern New South Wales
- Roughly 2500 metres of aircore drilling will focus on the “bullseye” targets defined in recent aeromagnetic and induced polarisation surveys
- Another 1500 metres of reverse circulation drilling will follow, targeting historical workings at the Bulgandry Goldfields
- The program is expected to reach completion in mid-April
- Krakatoa Resources is up 3.17 per cent to 6.5 cents per share
Krakatoa Resources (KTA) has launched a drill program at its wholly owned Rand Gold Project in southern New South Wales.
Located roughly 60 kilometres north-northwest of Albury, the 580-square-kilometre project was granted to Krakatoa late last year and is prospective for shear-hosted and intrusion-related gold systems.
Approximately 2500 metres of aircore drilling across 40 planned holes has already started, focusing on the magnetic “bullseye” targets that were identified during recent aeromagnetic and induced polarisation surveys.
Roughly 1500 metres of reverse circulation drilling will take place thereafter, targeting the historical workings of the Bulgandry Goldfields. This includes the Goodwood and Lone Hand Reef mine areas where no previous drilling has been completed, despite earlier production grades up to 265 grams per tonne of gold.
“The KTA NSW field team are now focused on the AC and RC drilling which has commenced and is expected to be complete by mid-April,” said Mark Major, CEO of Krakatoa Resources.
“The AC survey will cover the recently discovered geophysical bullseye targets where historical drilling revealed promising gold mineralisation,” he added.
Krakatoa Resources is up 3.17 per cent to 6.5 cents per share at 2:26 pm AEDT.