- Krakatoa Resources (KTA) identifies anomalous rare earth elements at its Mt Clere Project in Western Australia
- Earlier this year, the company conducted a geochemical sampling survey which has returned total rare earth oxide values of up to 10,380 parts per million
- The survey also uncovered anomalous nickel, copper, cobalt, lead and chromium which shows nickel-copper-platinum group element potential
- Krakatoa is now progressing field mapping, sampling, electromagnetic surveys, heritage clearance surveys and drill testing
- Company shares are up 2.08 per cent to trade at 4.9 cents
Krakatoa Resources (KTA) has received results from a geochemical sampling survey undertaken at the Mt Clere Project in Western Australia.
The two-phased program was conducted over April and May this year with results from the first phase released in early July.
Positively, the latest results have confirmed the presence of highly anomalous rare earth elements (REE) across E52/3731.
Total rare earth oxide (TREO) samples returned values of 5456 parts per million (ppm) TREO, 7887ppm TREO, 8126ppm TREO, and 10,380ppm TREO.
Krakatoa also identified several anomalous areas of nickel, copper, cobalt, lead and chromium within the tenement which it believes demonstrates the potential for nickel-copper-platinum group element (PGE) deposits.
CEO, Mark Major, commented on the results.
“In just four months we have identified significant geochemical anomalies and verified that the area is enriched with REE and nickel-PGE-copper potential,” he said.
“Our exploration efforts will now focus on further delineation of these targets through a mix of systematic soil and rock geochemistry, airborne geophysical surveys, and reconnaissance drilling.”
The company has since progressed the next stage of exploration which involves field mapping, soil, rock and geochemical sampling, electromagnetic surveys, heritage clearance surveys and drill testing.
Company shares were up 2.08 per cent to trade at 4.9 cents at 3:33 pm AEST.