Krakatoa Resources Limited (ASX: KTA) has further defined a number of targets from interpreted results of the moving loop electromagnetic ground (MLEM) survey undertaken over 15 of the high priority airborne VTEM AEM targets located at its 100% owned Mt Clere project located in the north-western margins of the Yilgarn Craton, Western Australia.
The initial MLEM survey focussed on the southern AEM cluster targets, being Milly-Milly, Bullbadger, North Bullbadger, Dingo and Calvin.
The recent Ni-Cu-PGE Julimar discovery, located near Perth in the similarly aged Southwest Terrane of the Archean Yilgarn Craton, was initially identified as an EM feature analogous to those seen at Mt Clere.
The Western Margin of the Archean Yilgarn Craton is highly prospective for Platinum Group Elements (PGE), Nickel (Ni) and Copper (Cu) sulphide mineralisation associated with intrusive mafic and ultramafic rocks.
The Narryer terrane where Krakatoa holds a dominant land holding forms the northwest margin of the same Archean Yilgarn Craton.
“The company is extremely pleased with the results of the MLEM target generation,” CEO, Mark Major, said.
“We recognised we had some great targets after flying the VTEM survey and now we have confirmed the true nature of these high calibre targets. This area is an emerging region and one which is attracting a lot of attention now.
“Multiple targets have the potential to host significant massive sulphide mineralisation and we could be on the cusp of something significant for our shareholders.
“We have only looked at a third of the targets so far. We are now planning our inaugural drilling programme to test these targets and have commenced the processes for obtaining all the regulatory permitting and requirements for the heritage survey. We are looking to complete these activities as soon as possible.”
Data was collected from the ground survey over the southern priority anomalies during April 2022. The priority anomalies were identified from the airborne electromagnetic (“AEM”) survey.
In total 18 traverses of data were collected over 15 target areas, for approximately 45 line km of data collection.
All data was collected using a Moving In-loop configuration with a series of wider initial pass traverses being followed up with tighter infill traverses where required. All traverses recorded significant mid to late time anomalies (basement sources) except for the B3 target. Plate modelling of the MLEM data indicate the anomalies are sourced by basement conductors with conductance’s that range from hundreds of Siemens to over 10,000.
Exceptional anomalies were recorded at Milly-Milly (MM-1) and North Bullbadger (NBB-8). The sources of the MLEM anomalies model in the high thousands of Siemens (typically greater than 8,000) with responses recorded well into the last channel of the 0.25 Hz data.
The company is currently undertaking the regulatory permitting and heritage clearance requirements. Once complete the company will rapidly advance to drilling which is expected to be a combination of reverse circulation and diamond methods.
Additional conductors and PGE-Ni-Cu targets, identified from the initial interpretation of the AEM data early 2022, will be followed up with a second phase of MLEM surveys and ground truthing programs this year. We look forward to updating shareholders with a pipeline of news flow as the project develops.
For further information please visit: https://www.ktaresources.com/