Krakatoa Resources (ASX:KTA) - Exploration Manager, Erik Conaghan
Exploration Manager, Erik Conaghan
Source: Krakatoa Resources
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  • Krakatoa Resources (KTA) has seen encouraging reuslts from its mapping survey at Mt Clere Project in Western Australia
  • The company collected 40 rock chip samples from three tenements
  • Rock chip samples returned encouraging results for an initial pass
  • Krakatoa is now planning an intense six month exploration program over Mt Clere, which will commence immediately
  • On the market, Krakatoa Resources is up 5.77 per cent and trading at 5.5 cents per share at 1:00 pm AEST

Krakatoa Resources (KTA) has seen encouraging reuslts from its mapping survey at the Mt Clere Project in Western Australia.

The company collected 40 rock chip samples from three tenements – E09/2357, E52/3730 and E52/3731.

Of these 40 samples, 28 were sent to a laboratory for assessment.

Results reveal coincident elevated nickel (up to 714 parts per million), platinum (up to 20.1 parts per billion), palladium (up to 12.6 parts per billion) and chromite (5,220 parts per million).

Additionally, encouraging rare earth elements of up to 664 parts per million of total rare earth elements were found in ultramafic to intermediate intrusive rocks, as well as several invasive quartz veins.

Rock chip samples were collected from areas of interest identified from historical reports, existing geophysics and adhoc rock outcrops encountered along station tracks.

Krakatoa is now planning an intense six month exploration program over Mt Clere, which will commence immediately.

This program includes field mapping, airbone surveys, stream sediment sampling and more.

CEO Mark Major said the results were highly encouraging as an initial pass.

“The volume of samples is negligible when you consider the size of the areas under exploration. Once we have all our stream sediment geochemistry data, we can focus our exploration efforts,” Mr Major said.

“The next six months will be an exciting time for the company and its shareholders as we progress exploration at Mt Clere.”

On the market, Krakatoa Resources was up 5.77 per cent and trading at 5.5 cents per share at 1:00 pm AEST.

KTA by the numbers
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