Announcement Date: 2022-11-21
Announcement Type: Deposit Estimation
Announcement Code: JORC
Company name: Krakatoa Resources Ltd.
Project name: Mt Clere
Location: Australia
Commodities: Rare Earth
Highlight: Initial Resource Estimate for Tower Deposit
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: Krakatoa Resources Limited (ASX: KTA) (“Krakatoa” or the “Company”) is pleased to announce a major milestone through delivery of a maiden Mineral Resource estimate at the Tower Project, the first prospect drilled of many perspective clay hosted REE targets at the Company’s flagship Mt Clere Project, located in the north-western margins of the Yilgarn Craton, Western Australia. The impressive maiden Mineral Resource estimate of 101MT @ 840ppm TREO, which has been defined in only 7 months following the discovery at Tower, which is highlighted by thick zones of near-surface mineralisation. 40% of the Mineral Resource estimate has been classified in an Indicated category. Significantly, the existing resource has the potential to substantially grow in size and scale as the Mineral Resource estimate only incorporates 20% of the identified Exploration Target drilled to date. Krakatoa has estimated an Exploration Target for the Tower area of 57 – 481MT at 530-1050ppm TREO. Following completion of the maiden Mineral Resource estimate, Krakatoa will now commence key development workstreams at the Tower Project and initiate discussions with potential end-users, offtake partners and industry groups for potential funding, development, and downstream opportunities.
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