TRAKA RESOURCES (ASX:TKL)This $11.2m market cap minnow hit up to 57.4g/t gold at the Plantagenet’ prospect, part of the Mt Cattlin gold-copper project in WA.Last year, five RC drill-holes were punched into Plantagenet to test underneath some shallow (sub 5m) historical mine workings.
Early results are impressive:4m @ 15.07g/t gold, 1.28g/t silver and 0.10% copper from 61m including 1m @ 57.40g/t gold, 0.41g/t silver and 0.02% copper4m @ 18.52g/t gold, 1.4g/t silver and 0.05% copper from 14m, including 2m @ 34.35g/t gold, 1.95g/t silver and 0.03% copper.“The mineralisation intersected at depth is wider and more extensive than indicated from surface workings and therefore resembles the results previously returned from drilling at Ellendale,” TKL says.
Recent drilling at the nearby ‘Ellendale’ prospect hit thick, shallow zones of mineralisation, like 19m @ 1.25g/t Au, 0.38g/t Ag and 0.05% Cu from 18m.Christmas with the Plantagenets“The positive drill results received at Plantagenet, combined with those previously reported for the Ellendale prospect before Christmas, provides significant scope to delineate a mineralised trend over 1-kilometre in length with Plantagenet located at one end and the Revival Prospect at the other,”
TKL says.~ 50% of the assay results from the 5,000m RC and diamond drill program completed last month remain outstanding and are expected to be progressively received through January 2022.TKL is up 50% over the past month. It had about $1.7m in the bank at the end of September.
TKL Price at posting:
1.5¢ Sentiment: Buy Disclosure: Held
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