TORONTO, Sept. 14, 2022 /CNW/ – Karora Resources Inc. (TSX: KRR) (OTCQX: KRRGF) (“Karora” or the “Corporation”) is pleased to announce a new nickel discovery and positive results from its ongoing nickel drill program.

In the Hunt Block above Western Flanks, infill drilling of the existing gold Mineral Resource intersected high grade nickel mineralization in two holes above the gold Mineral Resource.

This mineralization, interpreted as an offset to the 4C nickel trough mined by Reliance Mining (“Reliance”) in 2004/05, is only 25 metres from existing development actively used for mining of the Western Flanks gold deposit.

Positive results were also received from drilling which is focused on upgrading and extending the 30C and 25C (south of the 30C) Mineral Resources.

A target zone parallel to Western Flanks, Stage 1 of the 44C drill program intersected nickel sulphides on and proximal to the ultramafic/basalt contact indicating potential for a repeat of the 40C trough, north of the Alpha Island Fault in the Hunt Block.

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Paul Andre Huet, Chairman & CEO, commented:

“I am encouraged by the latest set of nickel drill results from both the 4C Offset nickel trough and the 44C target. The 4C Offset is located above the Western Flanks gold Mineral Resource and just 25 metres from the extensive existing Western Flanks mining infrastructure.

 

“This discovery is particularly exciting and significant because it represents a potential new high grade nickel zone that we can potentially mine in the near term. Additionally, the latest Beta Block drill results from the 30C and 25C nickel troughs reinforce the upside potential for Mineral Resource extensions and upgrades as outlined in the nickel PEA we announced last month for Beta Hunt.

 

“We expect ongoing drilling in the Hunt, Beta and Gamma Blocks to continue to demonstrate the significant potential Mineral Resource additions outside of the zones on which the PEA is based.

 

“Today’s results also highlight the potential to identify new channels of nickel mineralization amenable to mining in the short term to accelerate the shift away from our current practice of remnant mining in historic nickel stopes.

 

“Encountering nickel intercepts such as 5.1% over 3.3 metres and 4.6% over 1.3 metres certainly highlight the exciting potential that we are seeing as we execute our drill program.”

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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 days of purchase. 

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