Krakatoa hits 1.2 g/t gold and 10.5% copper during reconnaissance work at Turon
Four samples returned over 1% copper
KTA will now look to define extremities of the intrusive and copper-gold mineralisation at Jews Creek
Special Report: Ongoing reconnaissance work on new prospects at Krakatoa’s Turon project has returned impressive copper-gold grades at a time of booming demand for both metals.
Lithium and nickel prices may have tanked this year but the rally for precious metals including copper and gold is far from over.
Copper prices have jumped more than 15% over the past two months with mine disruptions threatening refined copper production at Chinese smelters, while gold hit a record high of $US2,352.78 an ounce on Wednesday.
Analysts are betting prices could surge even higher, which means good things for junior explorers.
Higher commodity prices tend to translate to higher margins, which in turn translate into greater profitability, something that every company – resources or not – would kill to have.
Copper a stand out
One ASX explorer delivering promising copper-gold results at the perfect time is Krakatoa Resources (ASX:KTA).
Reconnaissance fieldwork was carried out on the Mount Rosette gold and Jews Creek prospects in the southern portion of Turon, pulling up rock chip assays of 1.24g/t gold and 10.45% copper, along with anomalous molybdenum and tin.
Around 17 rock chip samples were collected and analysed by ALS Global for gold as well as 48 other elements.
Four samples returned over 1% copper, averaging 4.83% copper to a maximum of 10.45%.
KTA rock chip sample locations. Pic: Krakatoa Resources
The area features extensive zones of historical alluvial gold workings including the Dry Creek and Dam Creek mineral occurrences.
Although the main target style on EL8942 is orogenic/lode gold, there are also several intrusive-related targets yet to be examined.
More investigations to be done
“Our NSW projects continue to deliver promising results,” KTA CEO Mark Major says.
“The Jews Creek prospect within the Turon tenement, widely considered prospective for lode gold only, has delivered encouraging, intrusive-related copper-gold results at a time when the demand for copper is booming and gold is threatening to break out to an all-time high.
“We look forward to future investigations.”
KTA is looking to define the extremities of the intrusive and copper-gold mineralisation at Jews Creek through further mapping and sampling.
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.
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