Karora Resources Inc. [KRR-TSX; KRRGD-OTCQX] made a new high-grade nickel discovery at the 100%-owned Beta Hunt mine 600 km from Perth, Western Australia – the 50C nickel trough. The 50C discovery, located south of the Gamma Island fault, is the second new nickel discovery at Beta Hunt in the last six months and is further evidence of the upside potential for nickel as a by-product credit to Karora’s growing gold production profile. In addition, new gold drilling intersections have extended the known gold mineralized system at Beta Hunt to over 3.5 km along strike.
At Beta Hunt, drilling aimed to test for the offset extension of the historic Beta nickel belt south of the Gamma Island fault confirmed the presence of massive and matrix nickel sulphide mineralization along the prospective ultramafic/basalt contact.
Significant nickel intersections include hole G50-22-005E that returned 11.6% nickel over 4.6 metres, including 18.4% nickel over 2.2 metres. Hole G50-22-002E returned 1.2% nickel over 0.3 metres and hole G50-22-003E returned 2.4% nickel over 1.8 metres.
The new nickel zone – named 50C – has the potential to represent a repeat of the historic Beta Zone, which to date has produced in excess of 32,000 tonnes of nickel metal. The 50C nickel trough is 140 metres from existing development and remains open to the south.
Drilling also intersected gold mineralization above and below the 50C trough and suggests the Beta Hunt gold mineralized system extends for over 3.5 km of strike from the northern end of the A Zone.
Significant gold intersections include hole G50-22-002E that returned 2.7 g/t gold over 12.0 metres, including 10.1 g/t gold over 1.4 metres. Hole G50-22-005E returned 5.2 g/t gold over 3.2 metres and hole G50-22-004E returned 2.8 g/t gold over 11.5 metres, including 10.5 g/t gold over 0.5 metres. True widths cannot be determined with currently available information.
Paul Huet, chairman and CEO, said: “I am very excited with the latest set of drill results from Beta Hunt, which continue to return outstanding intersections and now a second new nickel discovery, all within close proximity to existing mine development. The discovery of a new nickel zone south of the Gamma Island fault is a major breakthrough in understanding the potential extent of nickel mineralization at Beta Hunt and represents a significant, emerging nickel opportunity for Karora.”