Krakatoa revs up the drill bit to test high-grade lithium potential at King Tamba
Special Report: Phase 2 drilling has kicked off at Krakatoa’s King Tamba project in WA’s Mid West region after the company hit a connected pegmatite running underneath three key prospects carrying high-grade lithium at surface.
Krakatoa Resources (ASX:KTA) was once seen a rubidium play following the identification of a 5Mt resource grading 0.14% rubidium at King Tamba, but further exploration work has since proven the project’s lithium credits are worth chasing.
A 16-hole for 1,806m reverse circulation (RC) campaign in November discovered pegmatites up to 39m thick below the 4.3% lithium rock chip at the targeted Wilsons prospect, which has a mineralised area of 1.3km by 500m.
Of these 16 holes, 13 intersected pegmatites. This included a significant pegmatite with thickness up to 39m from a depth of 70m, underlying the full extent of the target area.
Investors responded positively to the news, with KTA’s shares surging some 31% in early morning trade.
The results have led to the expansion of drilling with a 6,000m RC program for 45-50 holes to test the full extent of high-grade lithium in soil anomalies within a 500m by 1.3km halo.
KTA says the drilling campaign will be carried out over the course of December 2023 and January 2024 with a small break during the festive season.
Samples will be taken and submitted to a laboratory in Perth.
“This drilling campaign may just be the tip of the iceberg,” KTA executive chair Colin Locke tells Stockhead.
“King Tamba contains a 3km mineralised corridor with very high elevated soil samples of lithium, caesium, tantalum, rubidium and niobium.
“We’re excited to finally be drilling underneath this massive soil anomaly.”
This article was developed in collaboration with Krakatoa Resources, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.