Image Sourced Shutter Stock
Market Herald logo

Subscribe

Be the first with the news that moves the market

Traka Resources has released its quarterly activities report and has updates on its five multi-resource projects. The company announced new reverse circulation drilling planned at its 51 per cent owned Gorge Creek QLD project, targeting zinc, copper, cobalt and lead.

Drilling will take place over 4,000m on 10 targets, pending completion of heritage surveys, track clearing, drill logistics and wet weather clearing. Traka have been analysing the site for over five months and drilling will take place in late May, reaching depths of 350m. Expenditure on the project will also reach $1 million.

Traka are also carrying out ongoing analysis on newly identified lithium targets at its joint venture Mt Cattlin WA project. The company owns 20 per cent interest. Project partners, Galaxy, have identified several anomalies of lithium, caesium and tantalum.

Traka are still completing plans of exploration at the wholly owned Musgrave project in WA. Negotiations are being carried out to gain access to the Mt Morphett mine.

The company expects to find high-quality copper and nickel. Wide-spaced reconnaissance has been carried out at the WA Powder Puff project targeting cobalt and the company awaits assay results. Traka owns 100 per cent in the land.

Geochemical gold and base metal sampling has been completed at the Mt Shore Lake Grace project in WA. Further results are awaited but Traka reported consistent high-grade gold.

Please see announcement for further details

TKL by the numbers
More From The Market Herald

" Kelsian Group (ASX:KLS) sells East London bus operation for £20m

Tourism and bus company Kelsian Group (ASX:KLS) agrees to sell its East London bus operations to…
The Market Herald Video

" Titomic (ASX:TTT) sells first Titomic D523 system in Asia Pacific

Titomic (ASX:TTT) has sold its first Titomic D523 system through the company's Australian branch to D&C…

" COVID-19 outbreaks force Brickworks (ASX:BKW) to wind back operations

Brickworks (ASX:BKW) has wound back operations at several facilities in New South Wales and Queensland in…

" Bapcor (ASX:BAP) looks to raise $210M and carry out its 5-year strategy in spite of COVID-19

Bapcor (ASX:BAP) is looking to raise up to $210 million to reduce its net debt and…