Drill rig on platform at Zopkhito.
Krakatoa Resources Ltd (ASX:KTA) has started its 2026 field season at the Zopkhito Antimony-Gold Project in Georgia, with surface diamond drilling now underway as the company works toward a maiden JORC-compliant mineral resource estimate.
The second season of drilling at Zopkhito will focus on areas, or panels, where mineralised antimony and gold veins have been identified within historical adit development.
The work forms part of a broader 2026 program designed to convert and expand the project’s current foreign resource estimate into a JORC-standard mineral resource estimate, while also advancing early development studies. It comes after a heavier-than-average winter snowfall.
The Zopkhito Project is in the Racha region of Georgia and covers 1,779 hectares. It is held under an existing mining licence valid until March 2042, with Krakatoa holding an exclusive option to acquire up to an 80% interest.
Zopkhito hosts a foreign resource estimate of 225,000 tonnes at 11.6% antimony for 26,000 tonnes of contained antimony, along with 7.1 million tonnes at 3.7 g/t gold for 815,119 ounces of gold.
“Following a higher than average snowfall over winter, we are pleased that the 2026 field season at Zopkhito has now commenced,” Krakatoa CEO Mark Major said. “This year’s drilling program is designed to support the delivery of a maiden JORC-compliant Mineral Resource Estimate and advance early mine development studies. The 2025 drilling program validated the high-grade nature of the antimony and gold mineralisation, as well as the extension potential at Zopkhito. With the recognition of antimony’s strategic importance increasing globally, we believe Zopkhito has the potential to become a rare and significant European source of this critical mineral. We have an exciting and busy year ahead as we continue to demonstrate the potential of this project.
Program to support JORC resource
The 2026 campaign will include resource definition drilling, metallurgical optimisation and preliminary mining studies.
The program is designed to support delivery of a maiden JORC-compliant mineral resource estimate and advance early mine development work.
The company’s 2025 drilling confirmed high-grade mineralisation beyond the adits and identified an extended gold alteration system in addition to high-grade quartz-antimony vein development.
Georgia setting supports development pathway
Krakatoa said Georgia’s position as a trade gateway between Europe and Asia was relevant to Zopkhito’s development outlook.
The country has a population of 3.7 million and recorded GDP of US$30.5 billion in 2023, with average annual real GDP growth of 5.2% from 2012 to 2023.
Georgia also provides duty-free access to a market of about 2.8 billion people through free trade agreements and preferential trade regimes, including arrangements with the EU, China, India, Israel, Turkey, CIS countries, EFTA nations and Hong Kong.
Georgia’s ranking compared to other contries by World Bank.
The country’s simple customs policy, under which about 80% of imported goods are exempt from tariffs, support KTA’s role as a regional trade hub.
Underground work to follow
Underground drilling and bulk adit sampling are expected to begin in the coming weeks.
Krakatoa is also planning additional metallurgical optimisation test work and preliminary mining studies as part of its broader development strategy for Zopkhito.
Environmental baseline studies and permitting activities are continuing in parallel to support future project advancement.