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Market:ASX
Sector:General Mining
EPIC:TKL
Latest Price: 0.13  (0.00%)
52-week High:0.31
52-week Low:0.13
Market Cap:8.92M
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Traka Resources

Traka Resources (ASX: TKL) is a mineral exploration company based in Perth, Western Australia, with principal exploration interests in the Ravensthorpe and Musgraves regions of Western Australia.

Traka Resources reports Anglo American to drill at Musgrave JV Project

Friday, July 02, 2010
Traka Resources reports Anglo American to drill at Musgrave JV Project

Perth-based Traka Resources (ASX: TKL) has reported that Anglo American (Australia) Pty Ltd expects to commence a RC drilling program of about 5,000 metres next week to test the Navigator Prospect first and then three other targets highlighted by previous auger geochemical and geophysical surveys.

The Navigator Prospect is a substantial 8 kilometre long copper, nickel and Platinum Group Element (PGE) auger geochemical anomaly within mafic and ultramafic rocks of the Giles Complex, located within the Musgrave JV Project, Western Australia.

A number of Induced Polarisation (IP) and weak Electromagnetic (EM) targets have been highlighted within the geochemical anomaly. These coincident IP and EM targets will be drilled in this program.

Traka said two other targets have been prioritized for follow- up. One is a combined EM and copper, nickel and PGE prospect and the other is a bedrock EM target under regolith cover. Both of these targets are located outside of the Navigator Prospect.

A fourth drill target, the Roquefort Prospect, is a strong silver (Ag), gold (Au) and tellurium (Te) auger geochemical anomaly extending over 1.1 kilometres.

In addition, a ground EM program is expected to commence next week on the Jameson Prospect, the subject of the company’s 90% owned joint venture with Polaris Metals NL.

Details of the significant geochemical results returned recently from this Prospect were released to the market by Traka on 30 June.

This prospect is a strong copper, platinum, nickel auger geochemical anomaly adjacent to an outcropping line of titaniferous magnetite rock with high platinum, palladium, gold and vanadium values.

The survey will test a 2 kilometre zone which is coincident with a cluster of airborne EM targets next to the titaniferous rock horizon.

Patrick Verbeek, managing director, said the full extent of the Jameson Prospect has not as yet been fully defined. However, given the coincidence of geochemical, geophysical and geological features, an acceleration of the exploration program is justified.

In December 2008 Traka announced that it entered into an Option Agreement with Anglo American over 5 granted Exploration Licences and 7 Exploration Licence applications covering approximately 6500 square kilometres in the Musgrave Region.

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