Announcement Date: 2022-08-23
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. 13.0m @ 6.0g/t Au from 414m
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: TORONTO, Aug. 23, 2022 /CNW/ – Karora Resources Inc. (TSX: KRR) (OTCQX: KRRGF) (“Karora” or the “Corporation”) is pleased to announce continued exploration drilling success in targeting new gold mineralized shear zones in support of its growth plan strategy to deliver increased gold production in the targeted range of 185,000-205,000 ounces by 2024. Interpreted parallel shear zones to the Larkin Zone Mineral Resource, referred to as Mason and Cowcill, returned significant gold assays in the first two drill holes of a twenty-four-hole program1 as highlighted below. Results for the first two holes drilled this year to test for the Mason and Cowcill Zones were received. Mason and Cowcill are interpreted parallel gold mineralized shear zones to the Larkin Zone. The drill targets are supported by overlying nickel mineralization trends and historical gold intersections in the footwall to the nickel. A section of the Cowcill Zone has also been mined historically for gold. The potential of the Mason Zone was realized late last year where drill hole EL-EA2-004AE intersected the widest ever mineralized interval drilled by Karora at Beta Hunt – 1.5 g/t Au over 90 metres including 50.9 g/t Au over 0.4 metres – approximately 250 metres west of the Larkin Zone (Karora news release dated November 15, 2021). Significant results were received in both holes (Figure 1) and are listed below
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