Krakatoa Resources (ASX:KTA) has flagged the presence of a ‘significant’ zone of high tantalum, niobium, and rubidium following a reverse circulation (RC) drilling program at the King Tamba Mine in Western Australia.
The $5.19 million market capitalisation company says the zone remains open to the west. Krakatoa is ‘encouraged’ by this intersection, which it says may warrant further investigation.
The company also encountered several discrete zones of lithium-caesium-tantalum (LCT) mineralisation demonstrating enriched lithium, caesium, tantalum, with minor rubidium.
One zone in particular sits near the Wilsons ‘high-grade’ rock area.
Drilling comprised 45 holes designed to cover the footprint of the lithium soil anomaly using a 200m drill line spacing and 50m hole spacing. The program was centred under a ‘substantial’ 500m by 1.3km lithium-rich soil anomaly.
King Tamba has an existing JORC 2012 inferred mineral resource of 5 million tonnes @ 0.14% rubidium with 0.05% lithium credits. The company may seek to update and expand the resource model using the new data from 2023/24 drilling.
As of December 2023, the company had $2.31 million cash and cash equivalents at hand, according to its latest quarterly report.
Write to Adam Drought at Mining.com.au
Images: Krakatoa Resources
