- Krakatoa Resources (KTA) has identified two deep ground penetrating radar (DGPR) targets from a survey of the historical Britannia Mine
- The Britannia Mine is found within the company’s Turon Project which is located in the Lachlan Fold Belt of New South Wales
- The survey was conducted by Loza Radar Australia and included eight lines for nearly 2.5 kilometres
- The first is a shallow target that coincides with Britannia’s historical gold sequence
- The second is a stronger and deeper target, which is fully open and yet to be explored
- Company shares remain in the grey to trade for 3.4 cents each
Krakatoa Resources (KTA) has reported further deep ground penetrating radar (DGPR) results for its survey of the historical Britannia Mine.
The Britannia Mine is found within the company’s wholly-owned Turon Project. The Turon Project is located in the Lachlan Fold Belt of Bathurst, New South Wales.
Historically, the Britannia Mine produced about 10,000 ounces of gold from a small development area prior to 1904.
The DGPR survey outlined two priority targets at the mine that are believed to coincide with structurally-controlled quartz veining.
The first is a shallow target that directly corresponds with the historical mine sequence. The second is a deeper, offset target which remains fully open and untested.
“The DGPR survey results provide a focus and advance the Britannia target to drill-ready status,” Executive Chair Colin Locke said.
“The company is thrilled with the outcome, especially after recently identifying a remnant pod of high-grade mineralisation that may be amenable to further testing and early exploitation,” he added.
The survey was conducted by Loza Radar Australia and comprised eight lines for 2448 metres on a line spacing of about 70 metres.
The survey also identified several near-vertical or steeply-dipping structures that have significantly broad anomalous zones related to alteration of the host beds in the country-rock.
Krakatoa is encouraged by these findings and anticipates further success. It will conduct a drilling program as soon as necessary.
Company shares remain in the grey to trade for 3.4 cents each just before market close.