Traka Resources Ltd ("Traka") is a mineral exploration company based in Perth, Western Australia. The company listed on the Australian Stock Exchange in November 2003. The principals and management of Traka have had extensive experience in the minerals exploration industry and are credited with considerable success in the discovery of mineral resources.
Traka initially explored an extensive tenement holding overlying the Ravensthorpe Greenstone Belt. Following a number of years of exploration the Ravensthorpe Project was farmed-out. A number of different joint ventures and some reduction in the tenement holding has occurred over the years but in late 2012, the greater part of the project was farmed-out to Silver Lake Resources Ltd ("SL"). SL have extensive and advanced base metal and gold interests in the Ravensthorpe region. An alignment of the Company’s interest with them was therefore considered the best manner to advance the Company’s interests in this region.
In view of the farm-out to third party interests, work commenced in late 2007 to acquire a new exploration project which the Company could focus on in its own right. The Musgrave region of Western Australia was chosen because of the widely recognized prospectivity it had for nickel and copper mineralisation but also for the fact that very little exploration had ever been undertaken. The first mover advantage into an area with the potential for the discovery of world class deposits, capitilised on the exploration strengths of the Company and offered a balance to the risk and reward profile that goes with exploration in general.
Since 2007 Traka has gone on to establish the dominant position in the Musgrave region and has been instrumental in forging the most comprehensive exploration program ever undertaken there. This position has been achieved through the Company’s own endeavours as well as through a number of joint ventures with capable and well funded third parties. The Musgrave Project has now progressed to an exciting stage where detailed target generation and drilling has become a large part of the exploration program.