Krakatoa (ASX:KTA) has confirmed the presence of pegmatites onsite the Dalgaranga WA critical metals project further out than previously thought.
Resource drilling intersected thick pegmatite sections beyond the historical exploration footprint of the workings on the acreage.
The project is located some 70km from the exploration-prolific Mt Magnet area, with Krakatoa targeting critical minerals.
Critical minerals include those needed for batteries, and also decarbonisation technologies, as well as electrification initiatives (think: wind turbines, transmission lines.)
Krakatoa uncovered rubidium, tantalum, caesium, niobium and lithium when it sunk two RC drill holes at Dalgaranga across May and June.
While pegmatites are well known to host lithium deposits, Krakatoa is actually after rubidium.
Back in May, company management noted rubidium carbonate prices were then over US$6,000/kg.
Lithium prices, likewise, are still up over 400% year-on-year.
Krakatoa notes today it also encountered a 16m thick pegmatite section down a drillhole sunk southward beyond any existing drilling.
How far south is what will likely interest investors today: it has discovered new pegmatites over half a kilometre away, at 650m.
This is surprising, given that the Dalgaranga pegmatite complex has been subject to alluvial mining since the 1960s, producing tantalum and tungsten.
Previous geological data for the region suggests pegmatites are present to at least 100m depth.
If Krakatoa can crack the right spot, Dalgaranga may be set to become a flagship WA asset.
Get the latest news and media direct to your inbox