Krakatoa Resources secures major project

Krakatoa Resources (ASX:KTA) has announced its acquisition of an 80% interest in the Zopkhito project, a major antimony and gold deposit in Georgia's Racha region. The project holds substantial foreign estimates of mineral resources, though these are not yet JORC Code 2012 compliant.

Krakatoa's strategic move in Georgian mining

Krakatoa Resources is set to transform its portfolio with the acquisition of an 80% interest in the Zopkhito project in Georgia. The project boasts substantial antimony and gold deposits, although these are yet to be classified under JORC Code 2012. Krakatoa aims to verify these resources through further exploration, including surface mapping and drilling. The company's strategy aligns with leveraging high-potential mineral assets and capitalizing on Georgia's strategic location. The acquisition is supported by a $1.28 million placement, highlighting investor confidence in the project's potential.

Executive insights on Zopkhito acquisition

The Zopkhito project represents a significant opportunity for Krakatoa Resources. With its substantial antimony and gold deposits, we are excited to further explore and develop this asset. The project's strategic location and potential make it an excellent fit for our growth ambitions.