Krakatoa Resources Limited updated the market on its recently completed exploration programs on its priority NSW Projects. In December 2021, KTA completed a significant infill and extensional auger soil geochemical survey over the Bulgandry Goldfield. The Phase 2 survey followed-up the earlier work completed in February 2021 resulting in 1,630 samples taken within the last 12 months. Phase 2 comprised 833 samples taken across an area of over 35 km2 spanning 7.8 kms E-W by 4.5 kms N-S. It was designed to better resolve the numerous gold and multi-element anomalies defined by the Phase 1 survey. North-south oriented infill lines were spaced at 100 metres with 50 metre sample centres. Extension lines were either at a 100 or 200 metre spacing, with 50 metre samples centres. Raw (unsieved), bulk 300-500 gram samples were taken nominally within the B horizon from in situ soils. The sample batch
has been freighted to Labwest in Perth where they will undergo ultrafine analysis ("UFF-PE") for Au and a full multi-element suite. Assay results are expected in February-March 2022. In December 2021, selected air-core percussion chip samples from 4 of the 2021 Bullseye Magnetic Targets drilling holes were freighted to ALS Global's Hydrometallurgical Centre of Excellence in Perth to undergo initial metallurgical testing. These samples are undergoing a series of leach testing using ammonium sulphate and weak acids to determine the levels and which REE's within the clay hosted basket display ionic characteristics under these conditions.