Krakatoa Resources (ASX:KTA) is preparing its Zopkhito Antimony-Gold Project for a 7,000m to 10,000m maiden diamond drilling program, scheduled to commence later this month.
The company intends to extend the current resource estimate with upcoming geophysical surveys before commencing with drilling.
The project currently hosts an estimate of 225,000 tonnes @ 11.6% antimony for contained 26,000 tonnes of antimony and 7.1 million tonnes @ 3.7 grams per tonne for 815,119 ounces of gold.
CEO Mark Major says the company has completed and signed contracts for drilling, while completing refurbishment of its 30-man camp.
“After 10 years of limited use and no maintenance the camp reestablishment has been rather quick,” Major says.
“We have two drilling companies; one a local drilling company will provide a small underground style drill rig which will be used to drill holes on small footprint drill pads and shallower angles to conventional diamond core drill rigs.”
The first drilling company is expected to arrive at the site shortly.
“The second drill rig is a man portable rig specifically designed to operate in harder to access areas, such as steep slopes requiring a very small narrow drill footprint,” Major adds.
The second drill rig is expected later this month, with access tracks and drill pads currently being prepared for its arrival.
Upcoming exploration work at the project aligns with Krakatoa’s greater plans to undertake a preliminary economic assessment of the mining lease.
Meanwhile, the company maintains the exclusive right to acquire 80% interest in the mining lease that spans the project from JSC Caucasas Minerals, as previously reported by Mining.com.au.
The mining lease spans 1,779 hectares of the Racha region, hosting rail infrastructure to the two western ports in Georgia.
Krakatoa Resources is a precious and critical metals producer committed to expanding its portfolio of assets.
Write to Maddison Elliott at Mining.com.au
Images: Krakatoa Resources
