Krakatoa Resources Ltd recently highlighted its European growth strategy, with CEO Mark Major preparing to present the company’s Zopkhito project at the upcoming 1 to 1 Mining Conference in London.
Highlights
- Krakatoa Resources Ltd is expanding its presence in Europe, focusing on the Zopkhito project in Georgia.
- The project features high-grade antimony and gold with historic foreign resource estimates.
- Major emphasised the strategic importance of Georgia due to its untapped metallurgical belt and foreign investment potential.
- Field preparations are underway, including restoring access tracks and refurbishing a 30-man camp unused since 2018.
- The company’s main priority this season is converting Zopkhito’s foreign resource into a JORC-compliant resource.
- Additional exploration is planned at “Y”, targeting geophysical anomalies with high niobium potential, supported by a government grant.
- Krakatoa aims to secure European financing for these initiatives, leveraging market familiarity with the region.
Key driver for the future
The Zopkhito Sb-Au Project in Georgia, which was acquired in December and contains high-grade mineralisation with extensive historical work, including foreign resource estimates. Major told Proactive the asset is expected to be a key driver for Krakatoa’s future, with plans to convert the resource to JORC standards during the current field season.
“The new project… is no doubt going to be very important to the European markets going forward,” Major said.
Preparations are well underway for a 7,000 to 10,000-metre diamond drilling program now that seasonal conditions have improved.
In addition to the diamond drilling, Krakatoa will undertake several geophysical surveys designed to detect extensions of the current resource.
Georgia's geological potential
The company told investors that Georgia's geological potential and low levels of foreign investment were key factors in its decision to enter the region.
It noted the Zopkhito site had not been accessed since 2018 and teams are now re-establishing tracks and refurbishing the 30-man camp.
Krakatoa said it expects European investors to play a central role in financing its next stage of development.