Krakatoa Resources Ltd (ASX:KTA) has completed a 27-hole, 1318-metre air core (AC) drill program at the Rand Project, centred about 60 kilometres northwest of Albury in southern New South Wales.
The drilling, which targeted the highly prospective rare earth elements (REE) enriched Ryan and Jindera Granites, defined thick saprolitic clays over vertical depths of 60+ metres.
Krakatoa CEO Mark Major said: “After inclement weather forced the postponement of drilling for several months, we are pleased to report the successful completion of the air core drill program at Rand, which focused on highly prospective REE targets across the Ryan and Jindera Granites.
“Prior work by the NSW Geological Survey and Geoscience Australia highlighted these granites as I-Type and possibly A-Type granites which are importantly, prospective for REE mineralisation.
“Furthermore, the Ryan Granite is an alkaline metasomatically altered granite, enriched in REE-silicates.
"The fact that this inaugural drill program defined thick, clay-dominated saprolites developed over the granites is extremely encouraging, and we eagerly await the assay results”.
Completed AC drillholes over bedrock geology. Tenure outlines (black), roads (grey) and localities are shown for reference. (Durj = Jindera Granite, Dury = Ryan Granite, Duu_r = unassigned rhyolite dyke).
The AC program was drilled on roadside easements in February 2023.
Eight holes were collared within EL9000 “Rand” and the remainder on EL9366 “Urana”.
Twelve holes tested the Ryan Granite (Dury) along 7.5 kilometres of strike, a further 12 holes tested the northern Jindera Granite (Durj) as wide-spaced east-west fences and RAC020 tested an unassigned Devonian rhyolite dyke (Duu_r).
Wallis Drilling completed the drill program using a Toyota Landcruiser-mounter Mantis AC rig.
Rand Project showing tenements, current area of drilling and Siluro-Devonian granites (as determined by NSW geological survey).
Most holes were terminated at the top of saprock, unless terminated sooner due to bad drilling conditions.
The holes intersected various iron-oxide bearing zones, in addition to clean clays.
Examples of the regolith drilled are presented below.
AC chips showing red hematitic clays, yellow-orange goethitic material and white clays.
Almost 400 composited samples are currently being prepped by ALS Global for a lithium borate, multielement suite analysis.
Assay results are expected in about 8 weeks.
If the results are encouraging, Krakatoa will move to quickly start follow-up drilling, as 90 holes have been permitted, of which only 27 were drilled in this initial program.
Lithium resource at King Tamba
Krakatoa recently delivered a “major milestone”, in the form of a maiden mineral resource estimate (MRE) in the order of 5 million tonnes at 0.14% rubidium (Rb2O) and 0.05% lithium (Li2O) at its 100%-owned King Tamba Project, 80 kilometres northwest from Mt Magnet, WA.
The company is excited by the potential at King Tamba, which it says “contains a basket of unique critical metals” including rubidium, lithium, tantalum, niobium and tin.
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