Krakatoa Resources Limited (ASX: KTA) has been successful in an application for the Western Australian State Government Exploration Incentive Scheme (EIS) grant of up to A$180,000.
The grant will support the drilling of several significant late time conductors targets within the Southern Cluster area of the Mt Clere project located in the north-western margins of the Yilgarn Craton, Western Australia.
The grant was offered following a competitive application process under Round 26 of the Government Exploration Incentive Scheme. Only 38 EIS grants were offered in this round.
The company recently completed a successful heritage survey over the southern cluster targets and are now progressing with the site preparation works. All permitting has been complete, and a drill rig has been secured for anticipated commencement this quarter.
“The successful application for the EIS grant shows the level of prospective targets the company has identified with our systematic exploration over the course of the last 18 months,” CEO, Mark Major, said.
“We would like to thank the WA government and acknowledge the DMIRS for their continued investment and support into greenfield exploration throughout the state. We have been planning to drill these targets since June and are now on the cusp of undertaking the initial maiden drilling.
“Our team have recently completed the heritage survey work and have now secured a suitable drill rig to start before the end of this quarter.”
For further information please visit: https://www.ktaresources.com/
