TORONTO, Aug. 2, 2022
/CNW/ - Karora Resources Inc. (TSX: KRR) (OTCQX: KRRGF) ("Karora"
or the "Corporation") is pleased to announce drill results that
confirm the consistency of the Western Flanks Main shear
mineralization up to 150 metres below the current Mineral Resource.
The Western Flanks is Beta Hunt's largest zone and these results
provide confidence for the continued expansion of Karora's resource
base. In addition to extending the Main Shear mineralization,
drilling has also outlined significant footwall mineralization
which is not included in the current Mineral Resource.
Intersection highlights from both the Western Flanks Deeps and
infill ongoing underground diamond drill program are listed
below1.:
Western Flanks Deeps (outside of Mineral Resource)
- WW-SP2-003AE: 13.6 g/t over 5.3 metres,
including 0.6m @ 113 g/t
- WW-SP2-009AE: 2.1 g/t over 7.6 metres
- WW-SP2-002AE: 2.7 g/t over 6.7 metres
- WW-SP2-002AE: 4.0 g/t over 8.3 metres -
Footwall
Western Flanks Infill
- WW-SP2-006AR: 2.8 g/t over 17.7 metres
- WW386SP-06AR: 3.1 g/t over 11.7 metres
- WW386SP-01AR: 5.9 g/t over 5.1 metres
- WW-SP2-004AR: 6.1 g/t over 4.5 metres
1. Interval lengths
are estimated true widths.
|
Paul Andre Huet, Chairman &
CEO, commented: "I am pleased with the latest set of drill results
from Beta Hunt's Western Flanks zone which continue to demonstrate
the Mineral Resource growth potential of the mine.
Today's announced results successfully reinforced the two main
objectives of the Western Flanks drill program by extending the
gold mineralized zone by 150 metres at depth, as demonstrated with
an intercept of 13.6 g/t over 5.3 metres, and infill drilling
demonstrated the potential to upgrade the current Mineral Resource,
including a result of 5.9 g/t over 5.1 metres.
Western Flanks is currently the largest known shear system at
Beta Hunt and the continued growth of the zone is encouraging for
both near term mining potential and extension of the life of mine.
Beyond Western Flanks, the potential for additional gold Mineral
Resources in drilling at A Zone North, Fletcher, Gamma and the
newly discovered Sorrenson Zone underscores our goal of expanding
the multiple shear zones currently defined at the underground
operation."
Beta Hunt Drilling
Update
From May 1, 2022 to June 30, 2022, a total of 55 gold resource
definition and exploration holes were drilled at Beta Hunt for
12,685 metres. Gold drilling focused on extending and infilling at
Western Flanks and the Larkin Zone. Nickel drilling was limited to
the Beta Block targeting the 25C (south of the 30C) and testing of
the interpreted 44C trough west of the Western Flanks, with an
update to be provided once all results are received and
interpreted, expected later in 3Q 2022.
Drilling Results
Significant drilling results and their location over the period
May 1 to July 23, 2022 are shown in
Figure 1 and detailed in Table 1. Results for the Larkin Zone were
previously reported in the Karora news release date July 19, 2022.
Figure 1: Beta Hunt plan view highlighting recent gold
results received for period May – July
2022
Western Flanks Deeps: Drilling has been designed to
support the Karora growth plan by upgrading and extending the
current Mineral Resource. As part of the current program, drilling
tested the down-dip continuation of the gold mineralization below
the central portion of the deposit, up to 150 metres below the
existing resource. Significant results returned to date from this
drilling are highlighted below:
- WW-SP2-003AE: 13.6 g/t over 5.3 metres, including 113 g/t over
0.6 metres
- WW-SP2-009AE: 2.1 g/t over 7.6 metres
- WW-SP2-002AE: 2.7 g/t over 6.7 metres
- WW-SP2-002AE: 4.0 g/t over 8.3 metres (Footwall)
1. Interval lengths are
estimated true widths.
|
Results show strong mineralization in the targeted main shear
zone position up to 150 metres below the current resource and
confirm the strength of the Western Flanks gold system which
remains open at depth. The Main Shear Zone now extends over 350
metres down-dip. In addition to the Main Shear mineralization,
drilling has also highlighted new footwall mineralization not
previously included in any resource model.
Figure 2: Western Flanks Deeps X sections looking north.
Sections are 80m apart in plane of
Main Shear. Refer Figure 1 for location.
Western Flanks Resource Definition: Infill drilling was
dominated by results received for Western Flanks Central with some
results from the southern end of the deposit. Results generally
support and, in some cases, have upgraded the current Mineral
Resource. Significant results are listed below:
- WW-SP2-006AR: 2.8 g/t over 17.7 metres;
- WW386SP-06AR: 3.1 g/t over 11.7 metres
- WW386SP-01AR: 5.9 g/t over 5.1 metres;
- WW-SP2-004AR: 6.1 g/t over 4.5 metres
1. Interval lengths
are estimated true widths
|
The Exploration and Resource Definition results are expected to
expand the current Western Flanks Mineral Resource which represents
Karora's biggest, single Mineral Resource totaling 8.8Mt @ 2.7g/t
772kozs (Measured & Indicated) & 5.0Mt @ 2.7g/t, 437kozs
(Inferred). The results will be incorporated into the updated
Consolidated Mineral Resource due for release in Q4 2022.
A Zone North: Final results were returned from two holes
drilled as part of the surface diamond drilling program with a best
result of 8.1 g/t over 1.6 metres (estimated true width) in the
targeted A zone position. This result along with the results from
the rest of the surface drilling program will be incorporated into
the updated Consolidated Mineral Resource.
Gold drilling results from infill nickel drill holes targeting
the 25C and 30C in the Beta Block were also received. These holes
were highlighted by 12.6 g/t over 2.4 metres (estimated true width)
within the Larkin Zone. Larkin results were previously reported in
Karora news release, July 19,
2022.
Compliance Statement (JORC 2012
and NI 43-101)
The disclosure of scientific and technical information contained
in this news release has been reviewed and approved by Stephen
Devlin, FAusIMM, Group Geologist, Karora Resources Inc., a
Qualified Person for the purposes of NI 43-101.
At Beta Hunt all drill core sampling is conducted by Karora
personnel. Samples for gold analysis are shipped to SGS Mineral
Services of Kalgoorlie for preparation and assaying by 50 gram fire
assay analytical method. All gold diamond drilling samples
submitted for assay include at least one blank and one Certified
Reference Material ("CRM") per batch, plus one CRM or blank every
20 samples. In samples with observed visible gold mineralization, a
coarse blank is inserted after the visible gold mineralization to
serve as both a coarse flush to prevent contamination of subsequent
samples and a test for gold smearing from one sample to the next
which may have resulted from inadequate cleaning of the crusher and
pulveriser. The lab is also required to undertake a minimum of 1 in
20 wet screens on pulverised samples to ensure a minimum 90%
passing at -75µm. Samples for nickel analysis are shipped to SGS
Australia Mineral Services of Kalgoorlie for preparation. Pulps are
then shipped to Perth for
assaying. The analytical technique is ICP41Q, a four acid digest
ICP-AES package. Assays recorded above the upper detection limit
(25,000ppm Ni) are re-analyzed using the same technique with a
greater dilution (ICP43B). All samples submitted for nickel assay
include at least one Certified Reference Material (CRM) per batch,
with a minimum of one CRM per 20 samples. Where problems have been
identified in QAQC checks, Karora personnel and the SGS laboratory
staff have actively pursued and corrected the issues as standard
procedure.
About Karora Resources
Karora is focused on increasing gold production to a targeted
range of 185,000-205,000 ounces by 2024 at its integrated Beta Hunt
Gold Mine and Higginsville Gold Operations ("HGO") in Western Australia. The Higginsville treatment
facility is a low-cost 1.6 Mtpa processing plant, which is fed at
capacity from Karora's underground Beta Hunt mine and Higginsville
mines. Karora recently acquired the 1.0 Mtpa Lakewood Mill in
Western Australia. At Beta Hunt, a
robust gold Mineral Resource and Reserve are hosted in multiple
gold shears, with gold intersections along a 4 km strike length
remaining open in multiple directions. HGO has a substantial
Mineral gold Resource and Reserve and prospective land package
totaling approximately 1,900 square kilometers. The Corporation
also owns the high grade Spargos Reward project, which came into
production in 2021. Karora has a strong Board and management team
focused on delivering shareholder value and responsible mining, as
demonstrated by Karora's commitment to reducing emissions across
its operations. Karora's common shares trade on the TSX under the
symbol KRR and also trade on the OTCQX market under the symbol
KRRGF.
Cautionary Statement Concerning
Forward-Looking Statements
This news release contains "forward-looking information"
including without limitation statements relating to production
guidance and the potential of the Beta Hunt Mine, Higginsville Gold
Operation, the Aquarius Project and the Spargos Gold Project, the
commencement of mining at the Spargos Gold Project and the
completion of the resource estimate.
Forward-looking statements involve known and unknown risks,
uncertainties and other factors which may cause the actual results,
performance or achievements of Karora to be materially different
from any future results, performance or achievements expressed or
implied by the forward-looking statements. Factors that could
affect the outcome include, among others: future prices and the
supply of metals; the results of drilling; inability to raise the
money necessary to incur the expenditures required to retain and
advance the properties; environmental liabilities (known and
unknown); general business, economic, competitive, political and
social uncertainties; results of exploration programs; accidents,
labour disputes and other risks of the mining industry; political
instability, terrorism, insurrection or war; or delays in obtaining
governmental approvals, projected cash operating costs, failure to
obtain regulatory or shareholder approvals. For a more detailed
discussion of such risks and other factors that could cause actual
results to differ materially from those expressed or implied by
such forward-looking statements, refer to Karora 's filings with
Canadian securities regulators, including the most recent Annual
Information Form, available on SEDAR at www.sedar.com.
Although Karora has attempted to identify important factors
that could cause actual actions, events or results to differ
materially from those described in forward-looking statements,
there may be other factors that cause actions, events or results to
differ from those anticipated, estimated or intended.
Forward-looking statements contained herein are made as of the date
of this news release and Karora disclaims any obligation to update
any forward-looking statements, whether as a result of new
information, future events or results or otherwise, except as
required by applicable securities laws.
www.karoraresources.com
Table 1: Beta Hunt Significant Gold Results – May 1,
2022 to July 23, 2022 (excludes Larkin results reported
in Karora news release July 19,
2022)
Target /
Prospect
|
Hole ID
|
Sub
interval
|
From
(m)
|
To
(m)
|
Downhole
Interval (m)
|
Estimated
True
Width
|
Au
(g/t)1.
|
25C
|
B25-20-016NR
|
|
11
|
16
|
5
|
4.6
|
1.7
|
B25-20-019NE
|
|
59
|
62.7
|
3.7
|
3.2
|
2.7
|
B25-20-021NE
|
|
78
|
79
|
1
|
0.9
|
7.8
|
B25-20-025NE
|
|
72
|
76
|
4
|
3.2
|
1.5
|
30C
|
B30-1890-18NR
|
|
43
|
48.5
|
5.5
|
4.4
|
1.8
|
|
76
|
83
|
7
|
5.6
|
1.6
|
|
90.7
|
99
|
8.3
|
6.6
|
1.3
|
B30-1890-19NR
|
|
58
|
66
|
8
|
5.5
|
2.8
|
B30-1890-20NR
|
|
113
|
116
|
3
|
2.4
|
12.6
|
LARK
|
BL1890-15AR
|
|
9
|
16
|
7
|
5.4
|
1.6
|
|
67
|
70
|
3
|
2.3
|
2.5
|
|
275
|
279
|
4
|
3.1
|
2.1
|
Western
Flanks
|
BW-1704-01AR
|
|
101
|
109
|
8
|
6.3
|
2.2
|
|
120
|
124
|
4
|
3.1
|
1.3
|
BW-1704-02AR
|
|
20
|
21
|
1
|
1
|
5.8
|
|
113
|
121
|
8
|
5.8
|
2.3
|
BW-1704-10AR
|
|
15.8
|
18
|
2.2
|
1.8
|
3.9
|
|
135
|
138
|
3
|
1.9
|
2.4
|
WW386SP-01AR
|
|
55
|
58.5
|
3.5
|
3.5
|
3.8
|
|
78
|
117.1
|
39.1
|
25
|
1.5
|
including
|
78
|
86
|
8
|
8
|
1.4
|
including
|
88.85
|
99
|
10.15
|
6.5
|
1.7
|
including
|
102
|
117.1
|
15.1
|
9.7
|
1.8
|
|
124
|
126
|
2
|
1.3
|
3.6
|
|
146
|
154
|
8
|
5.12
|
5.9
|
WW386SP-03AR
|
|
88
|
93
|
5
|
3.7
|
1.6
|
WW386SP-05AR
|
|
90
|
94
|
4
|
2.94
|
1.3
|
WW386SP-06AR
|
|
93
|
110.2
|
17.2
|
11.7
|
3.1
|
|
114
|
121
|
7
|
4.8
|
1.5
|
WW386SP-07AR
|
|
43
|
45.78
|
2.78
|
2.6
|
3.5
|
|
92
|
96.66
|
4.66
|
2.6
|
1.6
|
|
105.4
|
109
|
3.6
|
2
|
3.5
|
|
162
|
163
|
1
|
0.56
|
5.5
|
WW386SP-09AR
|
|
40
|
41.35
|
1.35
|
0.95
|
3.7
|
|
76
|
79
|
3
|
2.1
|
2.6
|
|
98
|
99
|
1
|
0.59
|
8.0
|
|
109
|
114
|
5
|
3
|
3.2
|
|
121.4
|
122.05
|
0.65
|
0.4
|
26.6
|
WW405DD-01
AR
|
|
161
|
167
|
6
|
2.8
|
1.8
|
WW-SP2-001AR
|
|
80.8
|
92.0
|
11.3
|
9.0
|
2.3
|
|
144.0
|
148.0
|
4.0
|
3.2
|
3.0
|
|
150.7
|
154.0
|
3.3
|
2.6
|
6.1
|
WW-SP2-002AE
|
|
122
|
142
|
20
|
8.3
|
4.0
|
|
183
|
199.23
|
16.23
|
6.7
|
2.7
|
|
204
|
206
|
2
|
0.83
|
4.6
|
WW-SP2-003AE
|
|
152.9
|
155
|
2.1
|
1.7
|
10.5
|
|
311
|
315
|
4
|
2.4
|
1.6
|
|
340
|
349
|
9
|
5.3
|
13.6
|
including
|
340
|
341
|
1
|
0.6
|
113.0
|
WW-SP2-004AR
|
|
107
|
111
|
4
|
3.6
|
4.9
|
|
116
|
118
|
2
|
1.8
|
2.9
|
|
128
|
129.65
|
1.65
|
1.49
|
6.8
|
|
146
|
157
|
11
|
7.4
|
2.0
|
|
160
|
166
|
6
|
5.4
|
3.8
|
|
239
|
244
|
5
|
4.5
|
6.1
|
WW-SP2-006AR
|
|
100
|
102.05
|
2.05
|
1.9
|
3.7
|
|
110
|
117
|
7
|
6.5
|
1.8
|
|
142
|
148
|
6
|
4
|
2.3
|
|
157
|
175
|
18
|
17.7
|
2.8
|
|
222
|
226
|
4
|
3.9
|
3.0
|
|
236
|
240
|
4
|
3.9
|
4.7
|
WW-SP2-008AE
|
|
131
|
135
|
4
|
3.5
|
2.1
|
|
211
|
213.9
|
2.9
|
1.9
|
3.1
|
|
222.5
|
229
|
6.5
|
4.3
|
1.4
|
WW-SP2-009AE
|
|
143
|
146
|
3
|
2.5
|
3.8
|
|
246.2
|
249
|
2.8
|
2.3
|
2.7
|
|
268
|
287.9
|
19.9
|
7.6
|
2.1
|
including
|
268
|
278
|
10
|
3.7
|
1.7
|
including
|
281
|
287.9
|
6.9
|
2.5
|
3.5
|
WW-SP2-012AE
|
|
209.5
|
212
|
2.5
|
1.4
|
2.9
|
AZONE
|
SAZ-005-AE
|
|
306
|
307
|
1
|
0.7
|
5.1
|
SAZ-007-AE
|
|
313
|
315
|
2
|
1.6
|
8.1
|
1.
Reported gold grades > 1.0 g/t downhole and gram x metre >
5
|
Table 2 Beta Hunt - Drillhole
Collars for Significant Gold Results reported May 1,
2022 to July 23, 2022 (excludes
Larkin results reported in Karora news release July 19, 2022)
Target/
|
Hole
ID
|
MGA_N
|
MGA_E
|
mRL
|
DIP
|
AZI
|
Total
Length (m)
|
Prospect
|
BETA
|
B25-20-016NR
|
6542446.9
|
375823.9
|
-339.0
|
61.5
|
181.9
|
54
|
BETA
|
B25-20-019NE
|
6542424.0
|
375837.1
|
-344.0
|
56.0
|
203.2
|
78
|
BETA
|
B25-20-021NE
|
6542404.2
|
375851.2
|
-348.0
|
39.4
|
214.1
|
104.9
|
25C
|
B25-20-025NE
|
6542391.3
|
375864.3
|
-351.0
|
12.8
|
235.4
|
140.7
|
30C
|
B30-1890-18NR
|
6542754.5
|
375363.6
|
-384.9
|
29.6
|
47.0
|
119.6
|
30C
|
B30-1890-19NR
|
6542754.4
|
375363.6
|
-385.0
|
26.5
|
69.1
|
165
|
BETA
|
B30-1890-20NR
|
6542768.0
|
375345.3
|
-387.0
|
25.3
|
25.8
|
155.9
|
LARK
|
BL1890-15AR
|
6542754.3
|
375363.7
|
-387.7
|
-40.1
|
84.9
|
335.9
|
WF
|
BW-1704-01AR
|
6543632.9
|
375352.3
|
-291.0
|
-20.4
|
194.7
|
167.9
|
WF
|
BW-1704-02AR
|
6543632.9
|
375352.3
|
-291.0
|
-34.4
|
195.3
|
127.2
|
WF
|
BW-1704-10AR
|
6543632.9
|
375352.3
|
-291.0
|
-51.3
|
201.7
|
166
|
AZONE
|
SAZ-005-AE
|
6545009.0
|
373873.9
|
289.0
|
-77.1
|
43.0
|
503.7
|
AZONE
|
SAZ-007-AE
|
6544975.8
|
373921.6
|
289.4
|
-74.4
|
40.2
|
464.9
|
WF
|
WW386SP-01AR
|
6544009.1
|
374944.1
|
-381.5
|
-24.1
|
269.5
|
207
|
WF
|
WW386SP-03AR
|
6544008.8
|
374944.1
|
-381.5
|
-30.4
|
248.5
|
170.9
|
WF
|
WW386SP-05AR
|
6544008.8
|
374944.1
|
-381.7
|
-31.8
|
220.5
|
141
|
WF
|
WW386SP-06AR
|
6544008.7
|
374944.2
|
-381.5
|
-42.2
|
219.5
|
194.97
|
WF
|
WW386SP-07AR
|
6544007.9
|
374944.7
|
-381.8
|
-29.8
|
195.5
|
187.3
|
WF
|
WW386SP-09AR
|
6544007.2
|
374945.2
|
-381.7
|
-22.4
|
179.5
|
228.2
|
WF
|
WW405DD-01AR
|
6543680.7
|
375262.8
|
-398.5
|
-35.3
|
270.1
|
242.9
|
WF
|
WW-SP2-001AR
|
6544117.0
|
374904.9
|
-354.4
|
-32.8
|
214.9
|
206.6
|
WF
|
WW-SP2-002AE
|
6544116.5
|
374905.6
|
-354.4
|
-51.4
|
211.1
|
337.3
|
WF
|
WW-SP2-003AE
|
6544116.1
|
374906.1
|
-354.5
|
-61.7
|
210.0
|
360
|
WF
|
WW-SP2-004AR
|
6544117.4
|
374904.5
|
-354.4
|
-37.6
|
230.6
|
257.9
|
WF
|
WW-SP2-006AR
|
6544117.2
|
374904.5
|
-354.4
|
-35.3
|
240.4
|
269.9
|
WF
|
WW-SP2-008AE
|
6544117.2
|
374904.6
|
-354.2
|
-51.0
|
251.5
|
335.1
|
WF
|
WW-SP2-009AE
|
6544119.0
|
374902.0
|
-354.7
|
-60.7
|
243.4
|
428.7
|
WF
|
WW-SP2-012AE
|
6544121.7
|
374899.8
|
-354.6
|
-42.1
|
270.8
|
323.9
|
![Karora Resources Inc. Logo (CNW Group/Karora Resources Inc.) Karora Resources Inc. Logo (CNW Group/Karora Resources Inc.)](https://mma.prnewswire.com/media/1870759/Karora_Resources_Inc__Karora_Drilling_at_Beta_Hunt_Extends_Weste.jpg)
SOURCE Karora Resources Inc.