Karora Resources Inc. (TSX: KRR)
Announced its Consolidated Gold Measured and Indicated Mineral Resource, net of depletions, has increased by 8% and the Consolidated Inferred Mineral Resources have increased by 43%. […]
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| Karora Resources | TSX: KRR |
| Stage | Production + Development + Exploration |
| Metals | Gold + Nickel |
| Market cap | C$1.1 Billion @ C$6.90 |
| Location | Kalgoorlie, Western Australia |
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Karora Resources – Mining at Higginsville.
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Karora Announces Updated Consolidated Gold Mineral Resource Highlighted By Maiden Gold Resource For The Larkin Zone At Beta Hunt; Consolidated Mineral Resource Now Totals 2.71 Million Measured And Indicated Ounces And 1.21 Million Inferred Ounces.
- Beta Hunt Gold Measured and Indicated Mineral Resources increased by 7% to 1.12 million ounces and Inferred Mineral Resource increased by 46% to 786,000 ounces
- Significant Beta Hunt additions include:
- Maiden Larkin Mineral Resource comprising Measured and Indicated 1.44 million tonnes @ 2.6g/t for 119,000 ounces and Inferred 2.17 million tonnes @ 2.3g/t for 162,000 ounces
- On a consolidated basis Karora’s Gold Measured and Indicated Mineral Resource inventory increased by 8% to 2.71 million ounces net of mining depletion
- On a consolidated basis, Karora’s Gold Inferred Mineral Resources increased by 43% to 1.21 million ounces
- The expanded Mineral Resource further supports Karora’s Growth Plan to increase production to a targeted 185,000 – 205,000 ounces per annum by 2024
Karora Resources management comments
“We are very pleased to announce robust increases, net of mining depletion, to our Consolidated Gold Mineral Resource in the M&I category to over 2.7 million ounces and over 1.2 million ounces in the Inferred category.
“In particular, the addition of the maiden Mineral Resource for the Larkin Zone at Beta is exciting as it demonstrates how quickly we were able to move from the initial discovery of the zone announced in September 2020 (see Karora news release dated September 10, 2020) to the development of our first Mineral Resource of 119,000 ounces in the M&I category and a further 162,000 ounces in the Inferred category.
“The Larkin Zone has been delineated to a strike length of over 1,000 metres and a depth of 150 metres and remains open along strike and at depth providing significant potential for further expansion as our drill program at Beta Hunt continues.
“Our ability to rapidly convert new discoveries at Beta Hunt bodes well for future Mineral Resource updates as we continue to drill at our other recent discoveries at the mine – the Fletcher Shear Zone and the Gamma Block.
“Our success in expanding the Beta Hunt Mineral Resource is a critical component of our growth plan to increase production to our guided range of 185,000-205,000 ounces annually by 2024.
“Approximately 80% of our mill feed will come from our flagship Beta Hunt mine once operations are fully expanded to the schedule outlined in our growth plan.”
Paul Andre Huet, Chairman & CEO, Karora Resources
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To read the full news release, please click HERE
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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 day of purchase.
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