Krakatoa Resources Ltd (ASX:KTA) chairman Colin Locke tells Proactive the company has received firm commitments to raise $1.6 million through a share placement to advance an expanded drilling campaign at the wholly-owned King Tamba Project in Western Australia. Locke says now’s the time to take an aggressive approach in the search for lithium after an initial 1,800-metre reverse circulation drilling program intersected thick, continuous pegmatites, including a flat-lying blind pegmatite up to 39 metres thick underneath a 4.3% Li2O rock chip at the Wilsons prospect.
“We thank investors for their continued support and welcome new shareholders to our registry,” Locke said. “Our drilling partners, Topdrill, have demonstrated their confidence in the project by drilling for equity.”
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