Announcement Date: 2021-11-15
Announcement Type: Drilling Results
Announcement Code: JORC
Company name: Karora Resources Inc.
Project name: Beta Hunt Mine
Location: Australia
Commodities: Gold
Highlight: Drilling results incl. 4.0m @ 40.51g/t Au from 190.0m
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: TORONTO, Nov. 15, 2021 /CNW/ – Karora Resources Inc. (TSX: KRR) (OTCQX: KRRGF) (“Karora” or the “Corporation”) is pleased to announce new exploration drilling results from the Beta Hunt Mine. The new drilling results include the discovery of high grade gold mineralization approximately 50 metres below the interpreted extension of the 50C nickel trough in the Gamma Block (see Karora news releases dated April 6, 2021 and October 8, 2021 and Figure 1 below for an outline of block areas at Beta Hunt). Underground exploration drilling has returned an initial intersection of 40.5 g/t over 4.0 metres in diamond drill hole G50-22-007NE. The new discovery is associated with a basalt breccia. This association of gold mineralization with brecciation is not generally observed in current gold Mineral Resources at Beta Hunt. Exploration drilling to the west of the Larkin Zone has also intersected what appears to be a parallel zone of gold mineralization. The discovery hole of 90 metres grading 1.5 g/t is approximately 250 metres west of the Larkin Zone and returned individual grades as high as 50.9 g/t over 0.4 metres. Paul Huet, Chairman and CEO of Karora said, “I am excited by the new exploration drill results which continue to demonstrate the tremendous growth potential at the Beta Hunt Mine. Our first drill hole south of the 50C nickel discovery in the Gamma Block area intersected 40.5 g/t gold over 4.0 metres (hole G50-22-007NE) as part of the drill program targeting the southern extent of the nickel trough and highlights the further potential of this area to host significant gold mineralization.
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