Traka rises on Mt Cattlin potential

MICRO-CAP explorer Traka Resources has risen this morning on drilling results that paint a picture of the potential at its Mt Cattlin gold-copper project in Western Australia.
Traka rises on Mt Cattlin potential Traka rises on Mt Cattlin potential Traka rises on Mt Cattlin potential Traka rises on Mt Cattlin potential Traka rises on Mt Cattlin potential

Drilling at Mt Cattlin

Reverse circulation drilling at the Plantagenet prospect intersected mineralisation at the southern end of a 1km-plus soil geochemical and structural trend.

Results included 4m at 5.1 grams per tonne gold, 0.39gpt silver and 0.03% copper from 37m, including 1m at 11.5gpt gold, 1.28gpt silver and 0.1% copper; 4m at 15.07gpt gold, 1.28gpt silver and 0.1% copper from 61m, including 1m at 57.4gpt gold, 0.41gpt silver and 0.02% copper; and 4m at 18.52gpt gold, 1.4gpt silver and 0.05% copper from 14m, including 2m at 34.35gpt gold, 1.95gpt silver and 0.03% copper.

Traka said the results, combined with those reported for the Ellendale prospect last month, provided significant scope for the company to delineate a mineralised trend over 1km length with Plantagenet at one end and the Revival prospect at the other.

Ellendale returned wide intersections including 19m at 1.25gpt gold, 0.38gpt silver and 0.05% copper from 18m last month.

Drilling at the Grafter prospect also returned a peak hit of 1m at 4.34gpt gold, 0.07gpt silver and 0.01% copper from 19m.

About half the assays from the 5000m program are still pending.

"This is a very exciting way to start the New Year, with our exploration at the Mt Cattlin project now really starting to move up a gear," Traka managing director Patrick Verbeek said.

"Building on the positive results reported from the Ellendale prospect from just before Christmas, we now have some great new results from two key prospect areas.

"The standout assays come from Plantaganet, located at one end of a 1km-long geochemical and structural anomaly which we now know hosts significant high-grade mineralisation.

"The bonanza grade gold zones occur within much broader and highly anomalous copper zones, indicating the potential of this trend to host spectacular gold-copper mineralisation."

Verbeek said results for the Revival prospect were eagerly awaited and the remaining results would allow the company to plan a bigger exploration effort in 2022.

Traka shares rose as high as 1.7c this morning and last traded 15% higher at 1.5c, pushing the company's market capitalisation through $11 million.