Krakatoa Resources (ASX:KTA) - Exploration Manager, Erik Conaghan
Exploration Manager, Erik Conaghan
Source: Krakatoa Resources
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Krakatoa Resources (KTA) posts maiden soils assays from the Rang Gold Project in NSW
  • The company identifies more than 20 pathfinder multi-element anomalies, both in and around the site’s historical gold workings
  • The results reach as high as 29.6 parts per million gold
  • CEO Mark Major says the results outline “what appears to be a significant series of large intrusive-related gold systems”
  • Krakatoa shares are trading up 7.02 per cent at 6.1 cents per share at 10.45 am AEST

Krakatoa Resources (KTA) has unveiled the maiden results from its recent soil assay effort at the Rang Gold Project in NSW.

Following the work, the company identified more than 20 pathfinder multi-element anomalies, bolstering its view that the site may contain new, blind intrusive-related gold systems.

The first of its kind in the area, the program covered approximately 32 kilometres squared. Around 800 samples were collected from almost as many sites before being processed for their part-per-million gold values.

The map below outlines the results, which reached as high as 29.6 parts per million gold.

Source: Krakatoa Resources

Notably, one of the new gold anomalies outlined in the results extends three kilometres across the Goodwood, Lone Hand and Coonerty & Murphy’s historical gold mines and a second surrounds the past-producing Show Day, Junkyard and Welcome Find mines.

A further four new gold anomalies were identified outside the historical workings and several multi-element anomalies were also noted across the site.

With the results in hand, CEO Mark Major believes the findings outline “what appears to be a significant series of large intrusive-related gold systems.”

“Elevated levels of gold and pathfinder elements have defined several new robust gold and multi-element anomalies, some of which are coincident with our magnetic lineaments and supported by our recent rock-chip sampling,” he said.

“All the known historic workings showed coherent anomalism, the majority of which have had not been subjected to modern exploration before now.”

Looking forward, the company will follow up the survey with in-fill and extensional geochemical surveys to build a more detailed pictures of the project’s new underlying structures.

Krakatoa shares were trading up 7.02 per cent at 6.1 cents per share at 10.45 am AEST.

KTA by the numbers
More From The Market Herald

" Rafaella Resources’ (ASX:RFR) Santa Comba shows improved recoveries

Rafaella Resources (ASX:RFR) has revealed positive metallurgical testwork results from the Spanish Santa Comba project which…

" Anax Metals (ASX:ANX) appoints Gekko Systems for Whim Creek plant

Anax Metals (ASX:ANX) has appointed Gekko Systems to assist with the design process of a polymetallic…
Challenger Exploration (ASX:CEL) - Managing Director, Kris Knauer

" Challenger Exploration (ASX:CEL) drilling extends mineralisation at Hualilan

Challenger Exploration (ASX:CEL) drilling extends mineralisation at its Hualilan gold project in Argentina and opens the…
Tempest Minerals (ASX:TEM) - Non Executive Chairman, Brian Moller

" Tempest Minerals (ASX:TEM) intersects sulphides at Euro project

Tempest Minerals (ASX:TEM) completes diamond drilling at two of its three target areas at its Euro…