Krakatoa Resources Limited (ASX: KTA) has confirmed Rare Earth Elements (REEs) over five km at the Tower prospect within its 100% owned Mt Clere project located in the north-western margins of the Yilgarn Craton, Western Australia.
The 100 hole air core programme resulted in 12 holes being drilled at Tower West (for 412m) and 88 holes at the Tower main area (for 2,801m).
Results from the recent infill and extensional drilling programme at the Tower complement results from the discovery holes announced in April and May.
The extent of the mineralisation is now over five km at the Tower prospect, the extent drilled to the south, while the Tower West Prospect has expanded to three km extent of mineralisation.
Significant intersections from the resource drill holes highlights the consistency of thickness, grade distribution, and depth, include:
* 53m @ 722ppm TREO from surface, including 29m @ 1117ppm TREO from 24m (22MAC085)
* 48m @ 653ppm TREO from 6m (22MAC091)
* 47m @ 821ppm TREO from surface, including 27m @ 1205ppm TREO from 20m
(22MAC094)
* 43m @ 551ppm TREO from 4m (22MAC075)
* 42m @ 769ppm TREO from 10m, including 32m @ 908ppm TREO from 12m (22MAC007)
* 39m @ 582ppm TREO from surface (22MAC070)
*38m @ 642ppm TREO from surface (22MAC077)
*33m @ 948ppm TREO from 6m, including 10m @ 2116ppm TREO from 28m (22MAC097)
The core area of the Tower prospect is now covered by approximately 200m-spaced drill holes, which gives great confidence in the continuity of potentially economic mineralisation, considering the thick and flat- lying nature of the deposit. Several holes encountered the saprock closer to surface (eight-15m) and typically did not carry any significant REE mineralisation. These areas are thought to represent basement highs. Two holes failed to be drilled due to drilling conditions.
While the drilling at the Tower was systematically spaced, locations for the Tower West scout drilling at this stage were based primarily on accessibility. The holes here confirmed similar saprolitic clays as those at the Tower with the target horizon thickening to the south.
“The drilling has now confirmed that we have a substantial clay hosted REE discovery at the Tower region of Mt Clere project,” CEO, Mark Major, said.
“The continued thick clay regolith host has reaffirmed the exploration model and substantiated the extensive prospective area. It is a fantastic result and represents a major step forward for shareholders as we are now advanced to define our maiden JORC mineral resources estimate (MRE).
“There is still a lot of upside as we still have a lot of area untested around the Tower region as well as in the vast 2,300 square kilometre tenement package. We will look at these areas during 2023, right now we are looking forward to developing the MRE and completing the initial metallurgical review.”
Next Steps
The company has validated these latest assay results and has commenced work on a maiden Mineral Resource Estimate for the Tower REE deposit, so far confined to the air core drilled area.
REE mineralisation on the Tower plateau is predominantly hosted within the lower saprolite unit of the regolith profile. The company is preparing for the imminent commencement of reconnaissance auger drilling on the downslope terraces to the southwest of the plateau to determine if mineralisation extends into this area.
The lateritic cap and upper saprolite have largely been eroded from these terraces and the company believes the REE-hosting horizon is present in this area beneath less unmineralised cover.
Positive indications from the auger programme will justify future aircore drilling with the potential to add considerable volume to the known extent of REE mineralisation.
Initial metallurgical diagnostic leach tests at ANSTO are still ongoing to optimise possible extraction workflows.
For further information please visit: https://www.ktaresources.com/
