Krakatoa Resources Ltd (ASX:KTA) is set to kick off a basement sulphide drilling program targeting nickel, copper, cobalt and platinum group elements (PGE) at its Mt Clere Project within the north-western margins of the Yilgarn Craton in Western Australia.
Final preparations for the program are near complete, with drill rigs being mobilised to the site and the company expecting the six-eight hole, 3,000-metre reverse circulation (RC) drill program to begin next week.
The upcoming program will initially target the highly prospective Milly Milly and North Bullbadger conductors, where readings of up to 10,000 plus Siemens were recorded through previously completed airborne and ground EM surveys.
Drill program
Krakatoa CEO Mark Major said: “We are very excited to commence our sulphide drill program at Mt Clere and get the drill rigs spinning, with an initial focus on the highly exciting Milly Milly and North Bullbadger targets.
“With recent PGE hits by Desert Metals nearby, the drilling of our late-time EM conductors for basement sulphide targets, especially those over 4,000 Siemens along edges of magnetic features, adds to the anticipation.
“We have recorded readings of over 10,000 Siemens at Milly Milly and over 8,000 Siemens at North Bullbadger.
“These types of targets share some similar traits to other discoveries such as Gonneville (Julimar) EM Conductor, discovered by Chalice Resources, and the Nova Bollinger EM conductor discovered by Sirius Resources.
“We have already experienced great success at Mt Clere through the discovery of our Tower Rare Earths Project and are now focused on achieving similar success through this upcoming drill program.”
Mt Clere Project
Krakatoa holds 2,310 square kilometres of exploration licences prospective for rare earth elements, heavy mineral sands hosted zircon-ilmenite rutile-leucoxene and gold and intrusion hosted nickel-copper-cobalt-PGEs at the Mt Clere Project.
The company has recently discovered the presence of ion adsorption clays enriched in REE within extensive laterite areas; is also investigating the monazite sands in vast alluvial terraces; and the possibility of carbonatite dyke swarms.
Furthermore, Krakatoa has identified multiple and discrete late-time EM conductors via VTEM and ground MLEM surveys.
These conductors are thought to be basement rocks enriched with massive sulphide mineralisation and will be drill tested in 2022.