Krakatoa Resources Uncovers Niobium and Rare Earth Potential at Mt Clere; Shares See Positive Re-Rating

Krakatoa Resources Ltd’s (ASX: KTA) shares have jumped over 50% on very high volume to $0.017 in trade today, following the identification a new target at the Mt Clere tenement.

Mt Clere is located in the north-western margins of the Yilgarn Craton in Western Australia.

Mapping, stream sediment and soil sampling by the company has resulted in the identification of a significant new niobium and rare earth element anomalous catchment area.

This may host hidden alkaline intrusive systems such as carbonatite, obscured by the extensive sand and laterite cover.

Unwrapping the potential

Mark Major, chief executive officer, commented:

“We believe we have narrowed down the focus area for finding potential carbonatite intrusives, given the favourable carbonatite pathfinder geochemistry results combined with the supporting geophysical signatures.

“The extensive regional gravity high is favourably located over an area of discrete magnetic features within a major structural corridor close to the major craton margin.

“We are now working to prove up the extended area with additional soil geochemistry and possible detailed geophysical surveys in the current field season.”

Next up for Krakatoa

The exploration team are currently undertaking additional infill soil sampling within the 15 kilometre regional gravity high.

Following this additional reconnaissance work will be undertaken to focus on the niobium and rare earth element carbonatites and/or associated alkaline systems within the extensive target area.

This includes the target between the Hobbs and Red Valley prospects.

Once complete and if positive, the company will look to undertake additional geophysical surveys to help assist with defining areas of potential carbonatite development for drill testing.

Krakatoa held around $1.6 million in cash at the end of March 2024.

 

 

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