How far is Krakatoa Resources (ASX:KTA) from a maiden JORC resource at Zopkhito in Georgia?

Sonal Goyal

03 November 2026 11:10 PM AEDT

How far is Krakatoa Resources (ASX:KTA) from a maiden JORC resource at Zopkhito in Georgia?

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Key highlights

• Krakatoa Resources is working towards a maiden JORC-compliant mineral resource at its Zopkhito Antimony-Gold Project in Georgia.

• Surface and underground drilling continued through the September quarter, as set out in the company's report lodged on 30 October.

• This update covers new zones, the historical estimate, and the funding and risks in reaching a resource.

Krakatoa Resources (ASX:KTA) is working towards a maiden JORC-compliant mineral resource at its Zopkhito Antimony-Gold Project in Georgia. Its September quarter report, lodged with the ASX on 30 October, said surface and underground drilling continued throughout the quarter, and the first two batches of assays confirmed high-grade antimony and gold across several veins.

Standout surface results included 5.61 metres at 3.31 g/t gold and 4.28% antimony from 74.33 metres in DD26ZOP006, including 3.89 metres at 6.12% antimony. Hole DD26ZOP001 returned 1.8 metres at 11.09 g/t gold and 3.56% antimony from 52.6 metres, while DD26ZOP002 returned 2.83 metres at 3.26 g/t gold and 5.72% antimony. Individual samples graded up to 17.1 g/t gold and 15.3% antimony.

New zones

Drilling also identified a previously unrecorded gold-bearing zone interpreted as a mineralised fault, with DD26ZOP004 returning 1.29 metres at 7.11 g/t gold. Underground drilling at Vein 50, which sits outside the historical foreign estimate, returned 4.38 metres at 3.54 g/t gold from 2.99 metres, including 0.5 metres at 13.75 g/t gold and 2.85% antimony.

The intervals are relatively narrow, as is typical of vein-hosted deposits. Narrow high-grade veins can be valuable, but Mining them usually requires selective underground methods, which affects costs and dilution.

The historical estimate

Zopkhito has a historical foreign estimate of 225,000 tonnes at 11.6% antimony for 26,000 tonnes of contained antimony, and 7.26 million tonnes at 3.7 g/t gold for 815,119 ounces. Krakatoa has stressed that this estimate was not reported under the 2012 JORC Code, and further work is needed before it could be classified as a JORC resource.

That caveat is central to the headline question. The company's drilling is intended to verify and update historical data under modern standards. Until a competent person signs off on a JORC estimate, the historical figures cannot be relied on.

Accelerating the work

Krakatoa expanded surface drilling to round-the-clock operations during the quarter, and a second surface rig began after quarter-end. Drilling has moved into the western zone, where at least eight holes are planned to test several stacked near-vertical veins that are part of the historical model but had not been drilled by Krakatoa.

The 2026 programme focuses on five of the 17 known mineralised veins at Zopkhito. The aim is to combine historical data with new drilling to refine the geological model and assess the broader scale of the quartz-stibnite and gold system.

How far away?

Krakatoa has not given a firm date for the maiden estimate in the material reviewed. A second rig and continuous drilling suggest the company is pushing to shorten the timeline, but assay turnaround and the need for enough drill density will determine when an estimate is possible.

Why antimony matters

Antimony is used in flame retardants, batteries and defence applications. China has restricted exports, and Supply concerns have pushed several Western explorers to advance antimony projects. That backdrop has supported interest in the metal, although prices can be volatile.

Funding and risks

Operating in Georgia also brings jurisdictional considerations, including permitting and logistics. Combining antimony and gold in one deposit can help Economics if both can be recovered, but it also means the processing route must handle two products. Metallurgical work will therefore be as important as drilling in determining Zopkhito's value. Test work will also show whether the antimony can be sold in a form that buyers accept and at commercially acceptable payment terms.

What to watch

Key items are western zone results, assays from the second rig and any guidance on the timing of a JORC estimate.

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