Key Highlights

  • Krakatoa Resources (ASX:KTA) reported further high-grade antimony and gold assays from its 2026 drilling program at the Zopkhito project in Georgia.
  • Peak individual sample results reached 16.25 g/t gold and 8.27% antimony.
  • Mineralisation has been identified in areas not previously included in the historical resource, according to the company.
  • Surface diamond drilling and underground coring continue, with further assays pending, and the program is designed to convert a foreign resource estimate into a JORC 2012 Mineral Resource.

Krakatoa Resources Limited (ASX:KTA) reported on 9 November 2026 further antimony and gold assays from its 2026 drilling program at the Zopkhito Antimony-Gold Project, located in the Caucasus region of Georgia. The latest results come from underground core and surface diamond holes, and the company says they confirm multiple zones of significant mineralisation. The project’s main objective is to turn the existing foreign resource estimate into a JORC-compliant resource.

Where the Mineralisation Was Found

Underground core drilling intersected high-grade gold and antimony in Vein 19, while surface diamond drilling showed additional gold mineralisation in Veins 6 and 33. Krakatoa says some of the mineralisation lies in areas that were not included in the historical resource, which the company considers encouraging for the scope of the system.

Peak individual sample results of 16.25 g/t gold and 8.27% antimony were returned. These are single-sample values, and they describe the highest points within the drilling rather than the average grade of any defined zone.

Path to a JORC Resource

The 2026 program is designed to convert the existing foreign resource estimate into a JORC 2012 Mineral Resource Estimate. Krakatoa has said that consistency between the new assays and historical intercepts supports that aim, but a compliant estimate will require a body of data that the company has not yet published.

Representative ore samples have been sent to Germany for sensor-based processing tests, while a bulk sample is being prepared for metallurgical testwork at an Australian laboratory. These tests will inform how the ore might be processed, though no results are included yet.

The distinction between a foreign resource estimate and a JORC 2012 Mineral Resource is central to this project. A JORC-compliant estimate requires data, sampling and quality controls that meet the code, and the company has said the 2026 program is intended to provide that basis. When the pending assays and bulk-sample metallurgy are reported, the new intercepts can be compared with the historical data the company cites. That comparison will show whether the areas outside the historical resource are continuous with the known veins.

Uncertainties Facing the Project

Assays from surface diamond drilling and underground coring remain pending, so the full picture of the mineralisation is not yet available. Individual high-grade samples can overstate the grade of a broader zone, and the historical data behind the existing foreign estimate may not meet current JORC standards.

Operating in Georgia introduces jurisdictional and logistical factors that are not addressed in detail. Metallurgical performance, processing costs and the timing of permits are all open questions at this stage of the project.

Final Word

Krakatoa’s latest assays add to a body of high-grade antimony and gold results, and the mineralisation outside the historical resource is the most notable new point. Whether these results can be converted into a compliant resource, and whether the ore can be processed economically, will be tested by the pending assays and metallurgical work. Those outcomes will determine the next phase of the project.

The company’s stated goal is a JORC-compliant resource, so the next material step is the reporting of pending assays and metallurgical results, which will indicate whether the system can support a resource estimate of the kind the company has set out.