Image source: Shutterstock

Highlights

  • Krakatoa shares rose 40% to 1.4 cents following exploration update.

  • 7,000–10,000m surface diamond drilling planned at Zopkhito Sb-Au Project in Georgia.

  • Company targets JORC resource conversion and expansion of known high-grade mineralisation.

Shares of Krakatoa Resources Limited (ASX:KTA) soared by 40% to trade at 1.4 cents per share on Tuesday morning after the company released a comprehensive update on its upcoming work program and drilling activities at the Zopkhito Antimony-Gold (Sb-Au) Project, located in Georgia, Eastern Europe.

Krakatoa holds an exclusive option to acquire up to 80% interest in the granted mining license covering the Zopkhito Project, as initially announced in December 2024. The company is preparing for a significant field season aimed at resource conversion and exploration expansion.

Drilling Plans and JORC Conversion

The company has finalised plans for a 7,000–10,000 metre diamond drilling program, which will be central to converting the existing foreign mineral resource to JORC standards. The program is designed to test known high-grade antimony and gold-bearing veins, while also investigating the potential extension of the mineralised system beyond its current limits.

Krakatoa plans to use two diamond drill rigs—a man-portable rig for surface operations on small platforms and a second, more versatile drill for underground access capable of operating at various azimuths and dips. The current drill plan includes 100 drill holes distributed across 13 platforms, totaling up to 14,000 metres, although the company anticipates completing around 7,000 metres during this field season. This would test roughly 30–40% of the foreign resource area, with average drillhole depths of 140 metres, ranging from 35 to 390 metres.

The drill spacing has been optimised to 55–60 metres to allow for classification under JORC Inferred Resource standards.

In-Adit Drilling and Sampling

In addition to surface drilling, Krakatoa plans to conduct in-adit core drilling using handheld and portable coring systems. This technique aims to extract 5-metre samples from the rock within historical exploration adits. The goal is to intersect both the main quartz-antimony vein and the gold-rich alteration halo within the footwall and hanging wall structures.

Adit access inspections and surveys are scheduled to begin shortly, to determine the full scope and feasibility of this part of the drilling campaign.

Geophysical Surveys

To support its drilling efforts, the company will undertake a high-resolution drone magnetic survey over the project area. This is expected to enhance the effectiveness of drill targeting by identifying subsurface geological structures. Krakatoa is also evaluating the use of Sub-Audio Magnetics (SAM) surveys, which can detect resistive geological features in conductive terrains.

These geophysical activities will commence after the re-establishment of camp facilities and road access to the site.