- Krakatoa Resources (KTA) receives encouraging results from the maiden aircore drilling program at the Rand Bullseye targets in Western Australia
- Aircore drilling was undertaken to test a variety of targets, including conductive and chargeable anomalies identified via gradient array surveys
- Of the 43 holes drilled, grades peaked at 1170 parts per billion gold and 1635 parts per million arsenic
- Krakatoa will now undertake follow-up reverse circulation and diamond drilling to test the anomalies and intrusives
- Shares in Krakatoa are up 2.13 per cent and are trading at 4.8 cents at 2:08 pm AEST
Krakatoa Resources (KTA) has received encouraging results from the maiden aircore drilling program at the Rand Bullseye targets.
The Rand Bullseye targets are part of the Rand Gold Project which lies 60 kilometres north-northwest of Albury in southern NSW.
Aircore drilling was undertaken to test a variety of targets, including conductive and chargeable anomalies identified via gradient array surveys.
Drilling also tested above a number of bedrock anomalies identified in a dipole-dipole induced polarisation survey.
All up, 43 holes, for 2716.7 metres, were drilled over three areas between March and April 2021.
Best results include 11.2 metres at 146 parts per billion (ppb) gold and 502 parts per million (ppm) arsenic from 48 metres including one metre at 1170 ppb gold and 1635 ppm arsenic from 54 metres.
Krakatoa will now undertake follow-up reverse circulation (RC) and diamond drilling to test the IP anomalies and intrusives.
Work is expected to be completed in late 2021 to early 2022.
“Drilling has encountered anomalous gold at shallow depths within the intrusives immediately above coherent IP anomalies, that now represent deeper, robust drilling targets,” CEO Mark Major said.
“We will move to test these with RC (and/or diamond) drilling as soon as practical.”
Shares in Krakatoa were up 2.13 per cent and were trading at 4.8 cents at 2:08 pm AEST.