What's Happening?
Krakatoa Resources has intensified its drilling operations at the Zopkhito Antimony-Gold Project in Georgia. The company is conducting a second phase of drilling, which includes approximately 3,000 meters across 15 holes, to explore both near-surface extensions and deeper feeder structures. This follows a successful first phase that identified multiple zones of mineralization. CEO Mark Major expressed confidence in the project's potential, highlighting Zopkhito as a significant opportunity outside China and Russia. The site, located 250km west of Tbilisi, has a history of operations from 1950 to 1990 and is part of the Lesser Caucasus belt known for hosting critical metal deposits.
Why It's Important?
The expansion of drilling activities at Zopkhito underscores the growing interest in antimony and gold resources, which are critical for various industries, including electronics and jewelry. Krakatoa's efforts could lead to increased resource availability, potentially impacting global supply chains. The project's success may also attract further investment in Georgia's mining sector, boosting local economies and employment. As antimony is a strategic mineral, its development outside major producers like China and Russia could diversify supply sources, reducing dependency and enhancing geopolitical stability.
What's Next?
Krakatoa plans to continue its exploration efforts, supported by recent capital raisings and government interest in strategic resource development. The company is preparing for underground channel sampling to better understand the mineralized lodes' geometry and grade continuity. These activities aim to fast-track the definition of a maiden JORC-compliant resource, which could pave the way for future mining operations and partnerships.
