Krakatoa Resources Limited (ASX: KTA) has commenced field-based exploration activities at the Bell Valley target within its Belgravia Project in NSW.
Executive Chairman Colin Locke said Bell Valley is prospective for porphyry Cu-Au and represents one of six initial targets on the Belgravia Project, which lies within the Lachlan Fold Belt constitutes the largest porphyry province in Australia.
Mr Locke said experienced porphyry geologist and mining engineer Ian Cooper and Rangott Mineral Exploration Pty Ltd will lead the exploration activities.
The company has moved swiftly to secure land access to the targeted area.
Key land access agreements have been signed, enabling the Company to commence exploration activities on the Bell Valley target,” Mr Locke said.
The Bell Valley target contains the eastern half of the Copper Hill Igneous Complex (CHIC), which locally hosts the Copper Hill deposit with a total resource of 87Mt @ 0.32g/t Au & 0.36% Cu comprising indicated resources of 47mt @ 0.39g/t Au & 0.4% Cu and inferred resources of 39mt @ 0.24g/t Au & 0.32% Cu, using a 0.2% copper cut-off grade1.
Mr Locke said that during due diligence, the Company identified the Bella Prospect, a “doughnut” shaped magnetic pattern considered characteristic of porphyry intrusion, present within the Bell Valley target. Bella, which has a diameter of approximately 500m, sits near the edge of the CHIC, in a juxtaposition to the Copper Hills Deposit.
Bella also coincides with an interpreted NW-trending structure thought to control the emplacement of the porphyry bodies. Similar oriented structures control emplacement of the porphyry-related mineralised systems at Cadia.