- Krakatoa Resources (KTA) has been granted the Turon Project in New South Wales following a licence application
- The company first applied for this project in November 2019 when it expressed interest
- The project contains two north-trending systems with high grade rock chips
- Gold grading up to 1530 grammes per tonne was identified
- The company has now begun historical data compilation and securing land access to undertake field activities
- Krakatoa has ended the day 2.70 per cent in the green with shares trading for 3.8 cents apiece
Krakatoa Resources (KTA) has been granted the Turon Project in the East Lachlan Fold Belt in NSW following a licence application.
The company first applied for this project in November 2019, when it expressed its interest.
The Turon Project covers an area of 120 square kilometres and is situated approximately 50 kilometres east of Krakatoa's Belgravia Project where the company has begun its maiden drill program.
The Project is located 60 kilometres northeast of Newcrest Mining's Cadia Valley Operations, and 30 kilometres north of Bathurst in the Central Tableland region in NSW.
Turon lies within the eastern Hill End Trough, where a number of mineral deposit styles are present.
Styles include gold and base metal vein systems, base metal sulphide mineralisation, and silver-lead-zinc mineralisation.
Krakatoa will initially focus on the Quartz Ridge and Turondale prospect areas where a system of quartz can be traced over 1.4 to 2.4 kilometres respectively.
A number of gold results from rock chips have been historically returned with high results of 1530g/t gold and 150g/t gold from Dead Horse Reef, and 60.60g/t gold from Britannia Mine.
Krakatoa has begun its historical data compilation, including reinterpretation of a substantial aeromagnetic survey flown in 2012 and securing land to undertake field activities.
Krakatoa has ended the day 2.70 per cent in the green with shares trading for 3.8 cents apiece.