Karora Resources (TSX: KRR)
Announced additional significant results from gold exploration drilling targeting the Fletcher Zone at the Beta Hunt Mine.
A nine-hole drill program aimed to test and infill the southern extension of the Fletcher Shear Zone over 500 metres of strike north of the Alpha Island Fault commenced in June 2023 and is nearing completion.
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Gold in drill core from Beta Hunt mine, Western Australia
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| Karora Resources | TSX: KRR |
| Stage | Production + Development + Exploration |
| Metals | Gold + Nickel |
| Market cap | C$748 million @ C$4.28 |
| Location | Kalgoorlie, Western Australia |
Karora Resources Reports New Fletcher South Infill Drill Program Results Building Confidence In Continuity Of Mineralization
TORONTO,Aug. 7, 2023/CNW/ – Karora Resources Inc. (TSX: KRR) (OTCQX: KRRGF) (“Karora” or the “Corporation”) is pleased to announce additional significant results from gold exploration drilling targeting the Fletcher Zone at the Beta Hunt Mine.
A nine-hole drill program aimed to test and infill the southern extension of the Fletcher Shear Zone (FSZ) over 500 metres of strike north of the Alpha Island Fault (AIF) commenced in June 2023 and is nearing completion.
Assays from four of the nine holes received to date intersected strong mineralization in the targeted positions reinforcing a high level of confidence in the continuity of the Fletcher mineralization.
These latest results continue to build upon previously reported results which indicate the FSZ to be the third major gold system in the Hunt Block after the Western Flanks and A Zone.
Fletcher Highlights1
- WF405SOD-51AE:2.8 g/t over 52.0 metres and11.8 g/t over 2.9 metres
- WF405SOD-01AE: 3.3 g/t over 9.0 metres and 2.5 g/t over 10.5 metres
- BF1730-22AE:3.1 g/t over 13.0 metres, 3.8 g/t over 9.0 metresand2.5 g/t over 17.0 metres
- WF405SOD-52AE:4.7 g/t over 11.0 metres
- Interval lengths are downhole widths. Estimated true widths cannot be determined with available information.
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Paul Andre Huet, Chairman & CEO, commented:
“Today we reported more strong results from the Beta Hunt drilling program in our Fletcher South Zone. Our results returned strong gold mineralization over very long intercepts, including 2.8 g/t over 52 metres.
“We also identified new parallel mineralized lodes in the footwall of the FSZ, including results of 4.7 g/t over 11.0 metres and 3.8 g/t over 9.0 metres.
“To date we have completed eight of nine planned infill drill holes targeting a 500 metre strike length of the Fletcher South Zone just north of our strong results reported in April (6.5 g/t over 26.0 metres and 46.5 g/t over 7.0 metres in hole BL1730-04AE – see Karora news release,April 13, 2023).
“The results are very encouraging, demonstrating mineralization continues along the Fletcher Shear Zone, as targeted, as well as parallel mineralized lodes. This once again illustrates the significant potential for ongoing discoveries as we continue to deploy capital into our Beta Hunt drilling program.
“Assays from the five remaining holes are expected to be received during the third quarter and we await their results eagerly.
“As we have stated numerous times, Beta Hunt is a very large system which was underexplored historically due to cumbersome royalty burdens. As we continue to drill out our targets with those royalty burdens significantly reduced, we have been rewarded with many new shear zones and new Mineral Resource additions to our inventory each year.
“Beta Hunt’s next resource estimate will be released in the fourth quarter.”
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To read the full news release, please click HERE
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If you need clarification of any information contained in this note, or have any questions, I will be delighted to assist – Please email andrew@city-investors-circle.com
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Disclosure
At the time of writing the author holds shares in Karora Resources
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