Krakatoa Resources unveils strong copper-gold assays from new prospects at Turon project

Ongoing reconnaissance work at new prospects within the Turon copper-gold project in New South Wales has returned promising assays for owner Krakatoa Resources (ASX: KTA).

The company said it had received “highly-encouraging” grades from 17 rock chip samples collected around the Mount Rosette gold and Jews Creek copper prospects in the southern portion of the project area.

Best results included 1.24 grams per tonne gold and 10.45% copper with anomalous molybdenum and tin.

Four of the samples returned over 1% copper, with an average of 4.83% to a maximum of 10.45%.

The sample area features extensive sections of historical alluvial gold workings including the Dry Creek and Dam Creek occurrences, as well as several intrusive-related targets which are yet to be examined.

Historic workings

At the Jews Creek South target, Krakatoa located a series of historic hard-rock workings across an area of approximately 100 square metres.

The workings comprise several shallow prospecting pits and a significant mullock dump adjacent to a back-filled shaft.

Four mullock samples were taken of gossanous, veined and silicified igneous and metasedimentary rocks with abundant secondary copper minerals (including malachite, azurite, chrysocolla and potentially chalcocite).

One of the samples returned values of 1.24g/t gold, 39.1g/t silver, 10.45% copper, 331 parts per million lanthanum, 45.3ppm molybdenum, 4,850ppm lead, 19.6ppm tin and 1,330ppm zinc.

Base and pathfinder metals were strongly anomalous with maximum individual values of 39.1ppm silver, 306ppm arsenic, 86.8ppm cobalt, 45.3ppm molybdenum, 4,850ppm lead, 17.3ppm tin, 3.93ppm tellurium and 1,330ppm zinc.

The values are believed to be indicative of an intrusive-related system.

Strong results

Krakatoa chief executive officer Mark Major said the projects had delivered strong results for the company.

“Jews Creek is widely considered prospective for lode gold only but 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,” he said.

“These are promising results and we look forward to future investigations.”