TORONTO, July 19, 2022 /CNW/ – Karora Resources Inc. (TSX: KRR) (OTCQX: KRRGF) (“Karora” or the “Corporation”) is pleased to announce high-grade drill results¹ from the Larkin Zone as part of its ongoing underground diamond drill program at Beta Hunt, which includes the following intersections:

• 29.8 g/t over 7.8 metres (BL1890-03AR)
• 8.7 g/t over 4.0 metres (BL1890-13AR)
• 4.2 g/t over 6.9 metres (BL1890-01AR)

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Results from the drilling program support and extend the mineralization already defined by the current Larkin Mineral Resource and provide strong encouragement for potential high-grade mineralization to continue at depth, over 120 metes below the ultramafic / basalt contact.

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Paul Andre Huet, Chairman & CEO, commented:

“I am very pleased with the latest set of drill results at Beta Hunt which continue to demonstrate the tremendous high-grade potential of this underground mine.

 

“While our mined grades are consistent with our 2.6 g/t Mineral Reserve, we often encounter higher grade pockets such as those reported in today’s announcement, with one returning almost an ounce per tonne intercept – an exciting result in any gold mine.

 

“Success in our newest addition to Mineral Resources at Beta Hunt’s Larkin zone continues to reinforce both our robust near term growth plan and the long term ambitions at Beta Hunt.

 

“The new drilling was aimed at upgrading and extending the known Larkin Mineral Resource and was successful on both counts. It is particularly exciting that an intercept of 29.8 g/t over 7.8 metres, the best Larkin result to-date, was drilled 20 metres beyond the existing Mineral Resource and 120 metres below the ultramafic/basalt contact, indicating potential higher grade areas at depth in the zone.

 

“Over the past 24 months, we have reported results that not only support the extension and upgrade potential of the Western Flanks and A Zone existing Mineral Resources, but also the potential for additional gold Mineral Resources associated with mineralization intersected in drilling at Western Flanks North, A Zone North, Fletcher, Gamma and the newly discovered Sorrenson Zone.

 

“Our decision to significantly expand our drilling budget since 2020 has been well rewarded and we look forward to continued success across the very large areas remaining to be drilled. Coupled with our renewed nickel exploration success at Beta Hunt, the low cost mining potential of our flagship mine continues to develop.”

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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, bought in the market at the prevailing price on the days of purchase. 

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