Krakatoa Resources Limited (ASX: KTA) has received promising results from a reconnaissance stream sediment geochemical sampling survey undertaken on tenement E09/2357 in Western Australia.
The survey of the 330 sq. km licence is part of the systematic and extensive tenement wide exploration programme initiated in April over its highly prospective Mt Clere Project, located in the north-western margins of the Yilgarn Craton, in the Gascoyne Region.
The company now commands 2,310 sq. km of highly prospective geology at the Mt Clere Project with 1,080 sq. km currently under granted licenses and being systematically explored. Approximately 1,230 sq. km is under application.
Mt Clere hosts significant Rare Earth Element (REE) geochemical anomalies originally delineated by several previous explorers.
Previoulsy reported significant REE findings (located in KTA’s exploration licenses E52/3730 and E52/3731) included widespread monazite sands concentrated within drainage networks as well as ion adsorption clay REE targets in “extensive laterite areas”.
CEO, Mark Major, said significantly, the project covers regions of structural complexity within the Narryer Terrane in the Yilgarn Craton said to represent reworked remnants of greenstone sequences that are prospective for intrusion-hosted Ni-Cu-(Co)-(PGE’s).
The results of the stream survey are extremely encouraging. This is the first real multi-elemental stream survey undertaken over the vast license area and the results have exceeded our expectations,” Mr Major said.
“The presence of anomalous REE’s and Ni-Cu-PGE pathfinder elements is exciting and shows the vast potential of this area. We have identified various localized catchment areas which have exhibited significant drainage anomalism, including numerous samples with over 6,000ppm TREO and abundant highly anomalous Ni-Pb-Cu-Cr-Zn chemical signatures.
“We are very thrilled about the E09/2537 tenement results and are now eagerly awaiting the northern tenements stream surveys and reconnaissance rock sampling.
“These samples are in the laboratory undergoing analysis. Krakatoa is engaging a team of geologists and consultants to follow up these anomalies and provide geophysical support. This will initially entail intense field sampling, mapping and AEM surveys with the aim to be drilling before the end of the year.”
The exploration programme has been was split into two phases with the initial phase undertaken on exploration license E09/2537, and the second phase over exploration licenses E52/3730 and E52/3731. The results presented in the report are for the initial phase over E09/2537 where 75 stream sediment geochemical samples have been taken.
Krakatoa is currently awaiting the laboratory results from stream sediment programmes over E52/3730 and E52/3731 and rock samples including a small number of samples from the southeast E09/2357.
Stream samples were collected from trap sites located in second-order and third-order intermittent water courses. The samples were sieved to <1mm in the field. Where samples were too wet to sieve in the field, bulk samples (greater than 5kg) were collected then allowed to air dry before being and sieved back in Perth. Samples were transported to ALS Perth to undergo 60 element analyses using four acid digestion method ME-MS61L and MS-61L-REE.
Three large priority area of interest (AOI) have been identified as having highly anomalous stream sample analysis contained within a certain catchment position. There are numerous discrete sample locations with anomalous geochemical assays on third-order tributaries which are not yet assigned to an AOI due to their position in the catchment.