Krakatoa Resources Ltd (ASX: KTA) announced major clay hosted ionic rare earth discovery at Mt Clere
Krakatoa Resources Ltd (ASX: KTA) has announced the discovery of widespread clay hosted ionic type REE in the regolith. The discovery was made at the highly prospective Mt Clere project, located in the north-western margin of the Yilgarn Craton, Gascoyne Region of WA. The Company has received the first batch of results from the reconnaissance drilling geochemical analysis taken at the Tower prospect. The results are showing high levels of regolith hosted REE’s, including significant enrichment in the magnetic elements, concentrated in the clay saprolite profiles.
Following the announcement, shares in Industrial Krakatoa Resources Ltd soared 49.15% to $0.088/share.
When a mining company announces a new resource discovery it’s exciting times for shareholders.
A lot of capital goes into exploration and when a new deposit is found there’s usually a share price boost.
Discovery is the reward stage for investors, particularly of junior mining stocks, searching for undiscovered deposits of natural resources.
When discussing new resource discoveries it’s beneficial to know the difference between greenfield and brown exploration.
Greenfield exploration is looking for mineral deposits in areas that have not been explored.
In brownfield exploration deposits are being sought near or next to an already existing mine.
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