Karora drills 9.5 g/t gold over 7.1 metres at Beta Hunt, Australia

Karora Resources Inc. [KRR-TSX; KRRGF-OTCQX] reported significant results from gold exploration and infill drilling at the Beta Hunt mine in Western Australia.

In the Hunt Block, deep framework drilling for the Western Flanks zone continues to substantiate previously reported results which shows the main shear mineralization extends up to 250 metres below the current Mineral Resource and remains open at depth.

Initial results from deep drilling of the central section of A Zone also supports the extension of the defined mineralization up to 150 metres below the current Mineral Resource, remaining open at depth.

In the Beta Block, drilling targeting the Mason and Cowcill zones delivered results supportive of potential new mining opportunities located west and east of the Larkin Mineral Resource, respectively. New drilling of the southern extension at Mason has highlighted the potential for 700 metres of mineralized strike extent.

Recent intersection highlights from the ongoing Beta Hunt underground diamond drill program:

Western Flanks Deeps: WW395-18AE returned 9.5 g/t gold over 7.1 metres; WW395-14AE returned 3.8 g/t over 6.0 metres.

A Zone North & A Zone Deeps Central: WA380-003AE returned 6.6 g/t over 9.0 metres; AA38ACC-06AR returned 5.3 g/t over 6.0 metres.

Mason: BM1890-22AE returned 3.3 g/t over 23.0 metres and 5.4 g/t over 11 metres; BM1890-21AE returned 4.4 g/t over 11.0 metres; BM1890-24AE returned 6.5 g/t over 5.0 metres; BLB13-06AE returned 9.0 g/t over 3.0 metres.

Cowcill: BCB13-03AE returned 3.3 g/t over 11.9 metres; BC1704-012AE returned 4.4 g/t over 4.9 metres.

Paul Andre Huet, Chairman and CEO, commented: “The new results reported from the Western Flanks deep drilling program continue to be very strong, demonstrating robust results from the southern section of the zone. These results build on the previously reported strong deep drilling results from the central section of Western Flanks and provide more confidence in the consistency of gold mineralization up to 250 metres below the current Western Flanks gold Mineral Resource which remains open at depth. Results from the southern zone drilling returned strong intersections of 9.5 g/t over 7.1 metres and 3.8 g/t over 6.0 metres.

“The third set of results from the new Mason Zone continue to support our interpretation of a significant gold mineralized system parallel to, and west of the Larkin Zone. The new results include intersections of 5.4 g/t over 11.0 metres and 6.5 g/t over 5.0 metres building on the previously reported best-ever Mason intersection of 12.0 g/t over 17.0 metres. Having four new holes drilled at Mason returning significant gold mineralization results is very encouraging for the potential of Mason to be a robust new mining opportunity at Beta Hunt south of the Alpha Island Fault.

“Additionally, we reported more strong results from the north and central section of A Zone Deeps and Cowcill shears including 6.6 g/t over 9.0 metres (A Zone Deeps) and 3.3 g/t over 11.9 metres (Cowcill). The A Zone results support the continuation of the Mineral Resource at depth. At Cowcill, the results support the potential for new gold Mineral Resource parallel and east of the Larkin Mineral Resource.

“Overall, the results reported today support the potential for significant ongoing Mineral Resource growth that exists at Beta Hunt, following on from several years of impressive ounce additions at our flagship asset.”

From October 1, 2022 to December 15, 2022, a total of 37 gold resource definition and exploration holes were drilled at Beta Hunt for 9,152 metres. Gold drilling focused on extending and infilling at Western Flanks, A Zone Deeps and the Mason and Cowcill Zones south of the Alpha Island Fault.

Western Flanks Deeps: drilling continues to test the down-dip continuation of the gold mineralization below the southern portion of the current Mineral Resource. Results for the central portion were previously reported and included intersections of 13.6 g/t over 5.3 metres and 2.7 g/t over 6.7 metres. Initial results from the southern portion were also previously reported and included intersections of 3.6 g/t over 5.4 metres and 3.1 g/t over 10.8 metres.

New results from drilling the down-dip southern portion of the deposit have now been received with significant intersections, including WW395-18AE that returned 9.5 g/t over 7.1 metres – at the margin of current resource; WW395-14AE returned 3.8 g/t over 6.0 metres – extension of current resource; and WW386SP-11AE returned 3.0 g/t over 4.0 metres – extension of current resource.

Combined with previously reported results, the new results indicate continuity of the Western Flanks gold system from 150 to 250 metres below the current Mineral Resource with the system remaining open at depth and along strike.

A Zone North and A-Zone Deeps-Central: As part of the current program, drilling infilled the northern margin of the Mineral Resource and tested the down-dip continuation of the gold mineralization below the central portion of the deposit.

New results include significant intersections. A Zone Deeps: WA380-003AE returned 6.6 g/t over 9.0 metres – extension of current resource; WA380-006AE returned 4.4 g/t over 5.7 metres – extension of current resource.

A Zone North: WA380-003AE returned 2.8 g/t over 10.0 metres – infilling existing resource; WA380-006AE returned 14.8 g/t over 2.0 metres – infilling existing resource. Interval lengths are downhole widths.

The A Zone Deeps results support the extension of mineralization 100 metres to 150 metres below the current Mineral Resource.

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). 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.