leadf
logo-loader
viewKarora Resources Inc.

Karora Resources reveals early success in expanding mineral resource base at Beta Hunt mining complex

The firm has discovered a new gold footwall zone and high-grade nickel intercepts at its Beta Hunt operation in Western Australia

Karora Resources Inc. -
Gold intersections from the northern end of the Western Flanks resource on the project include values of 6 grams per ton gold over 5.3 metres

Karora Resources Inc (TSE:KRR) said it has discovered a new gold footwall zone and high grade nickel intercepts at its Beta Hunt operation in Western Australia.

Gold intersections from the northern end of the Western Flanks resource on the project include values of 6 grams per ton (g/t) gold over 5.3 metres and 7 g/t gold over 8.6 metres, with additional intersections of 2.4 g/t over 23.3 metres and 4.6 g/t over 9.4 metres.

The results indicate the discovery of a new, parallel footwall zone of mineralization that extends over 160 metres of strike and 50 metres high atop of the existing resource, the company said. The zone also has potential for extension a further 50 metres up-dip and along strike to the north.

READ: Karora Resources now a 'top tier' junior producer as it posts strong 2Q operating and financial results

Drilling also intersected “massive” nickel sulphides on the Western Flanks North zone, with results including 7.2% nickel over 1.2 metres, 5.3% over 0.5 metres and 5.2% over 0.8 metres. The results highlight the potential for high-grade nickel sulphide shoots to occur within the zone of nickel mineralization above the gold mineral resource, the firm told shareholders.

Karora now has two drills operating full time on both gold and nickel targets, according to CEO Paul Andre Huet.

“Our drilling in the Western Flanks shear zone, which is one of two gold production zones at Beta Hunt, has returned very strong results to the north, upgrading the existing resource and expanding the known mineralization with the discovery of a new footwall zone. Encouragingly, both of our production zones, Western Flanks and A Zone, remain open to the north and at depth,” Huet said in a statement.

“Our restarted drilling has also returned some very strong nickel drilling results which sit just above the gold zone at the basalt/ultramafic contact. These strong nickel intercepts could expand our potential nickel resource base and build the case for continued robust nickel by-product credits to our gold AISC costs at Beta Hunt.”

The firm increased its planned underground drilling program by 4,100 metres to test the Western Flanks zone to the north, with the aim of adding up to another 280 metres of strike and 80 metres of depth to the zone, Huet added.

Higginsville update

In addition, a preliminary review of data from a regional gravity survey over Karora's nearby Higginsville Gold Operation (HGO) identified multiple gold targets.

“It is evident from the gravity survey and ongoing exploration target definition that the Higginsville area has one of the most exciting unexplored land packages within the region,” Huet said.

Toronto-based Karora is continuing an aggressive drill program at HGO with two drills currently turning and plans to add additional drilling capacity in the near future.

Contact Angela at angela@proactiveinvestors.com

Follow her on Twitter @AHarmantas

Quick facts: Karora Resources Inc.

Price: 3.58 CAD

TSX:KRR
Market: TSX
Market Cap: $520.26 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Karora Resources Inc. named herein, including the promotion by the Company of Karora Resources Inc. in any Content on the Site, the Company...

FOR OUR FULL DISCLAIMER CLICK HERE

RNC Minerals undergoing a 40,000 meter drilling campaign on gold project

RNC Minerals (CVE: RNX) CEO Mark Selby spoke with Proactive Investors at the Prospectors & Developers Association of Canada in Toronto. The company has a 100% interest in the Beta Hunt gold mine located in Western Australia. RNC is currently completing a 40,000 metre drill program, the...

on 6/3/19

3 min read