- Krakatoa Resources (KTA) says a review completed by Mt Isa Mines further supports the prospectivity of the Belgravia Project
- The Larras Lake Igneous Complex and the Copper Hill Igneous Complex were both tested
- Field sampling of the Larras Lake Igneous Complex is set to begin immediately
- Krakatoa’s share price is up a steady 5.13 per cent with shares currently trading for 4.1 cents apiece
Krakatoa Resources (KTA) has advised that a review completed by Mt Isa Mines further supports the prospectivity of the Belgravia Project.
The Larras Lake Igneous Complex (LLIC) and the Copper Hill Igneous Complex (CHIC) were both tested.
The LLIC lies immediately north of CHIC, within the Molong Volcanic Belt (MVB), and is also known to be gold mineralised.
The geology of the MVB consists of north-trending ordovician mafic volcanics, related intrusions and associated sediments.
The LLIC and CHIC, which form part of Krakatoa’s Bell Valley Target, were recently flown by unmanned aerial vehicle (UAV) as part of the completed magnetic survey.
In 1995, Mt Isa Mines identified weak potassic and propylitic alteration associated with a monzodiorite infusion through a 223 vertical hole rotary air blast (RAB) program at Larras Lake.
Drilling comprised of mostly shallow holes sampled in three-metre composites, with a maximum depth of 33 metres.
The holes were terminated at blade refusal and the deepest holes are coincident with higher copper and gold results. They are also supportive of an alteration through being associated with the mineralising event.
This drill program followed preliminary field investigations including bulk cyanide leach (BCL) stream sediment and rock chip sampling.
Rock chip sampling contained highly anomalous gold and copper grades south of the Larras Lake homestead.
Imaged max value geochemistry for copper and gold support a strong northwesterly – southeasterly trend which is most evident in the distribution of copper within the drilled area.
A typical metal donation with a gold and copper enriched core exists which is partly enclosed by a lead-zinc enriched outer zone.
The inter-core trends southeast towards the Belgravia Project, capturing the undrilled Bella Prospect.
Consistent with previous reports, Krakatoa believes that the metal tenor and distribution support Mt Isa Mines as potentially drilling the periphery of a larger mineralised system that lies at depth and in a direction consistent with the Belgravia Project.
Krakatoa’s share price is up a steady 5.13 per cent this morning with shares currently trading for 4.1 cents apiece at 11:55 am AEDT.
