Karora Resources drills 46.5 g/t gold over 7 metres at Beta Hunt, Australia
Karora Resources Inc. [KRR-TSX; KRRGF-OTCQX] released significant results from gold exploration drilling targeting the Fletcher zone at the 100%-owned Beta Hunt mine, Western Australia.
Drilling to test the southern strike extension of the Fletcher shear zone (FSZ), north of the Alpha Island fault (AIF), intersected strong mineralization in the targeted position supporting the current interpretation and extending the drill-supported potential mineralized zone by 900 metres from the nearest drill intersection, for a total strike length of 1.4 km. This result substantiates and improves upon previously reported results which indicate the FSZ to be the third major gold system in the Hunt block, after the Western Flanks and A zone.
Fletcher highlights: BL1730-04AE returned 6.5 g/t over 26 metres, including 9.9 g/t over six metres. BL1730-04AE returned 46.5 g/t over seven metres, including 262 g/t over 0.7 metres.
Interval lengths are downhole widths. Estimated true widths cannot be determined with available information.
Paul Andre Huet, chairman and CEO, commented: “The drill results reported today from the Fletcher zone substantially increase the interpreted strike length of the zone to 1.4 km from the previous known strike length of 0.5 km. What makes this even more exciting is the very strong grades associated with the extension, which are substantially higher than previous results at Fletcher and among the best grade times width results we have reported for Beta Hunt, ever. These results further support our interpretation of Fletcher as a Western Flanks analogue, which has been the largest and most prolific shear zone for gold production to-date at Beta Hunt.
“Fletcher is positioned west and parallel to Western Flanks in the Hunt block, and extends to the AIF, which is very close to existing nickel infrastructure in the Beta block and the Larkin mineral reserve to the south. This offers compelling development scenarios for accessing the Fletcher zone for potential mining in the future. Fletcher remains open along strike, with the potential to extend for up to two km, and open at depth.
“Overall, the results reported today provide compelling support for potential significant mineral resource growth at Beta Hunt, following on from several years of impressive ounce additions at our flagship asset. With the operation previously long encumbered by onerous royalties and fluctuating metal price environments, the opportunity in front of us is clear: we are just getting started at Beta Hunt, even with the very strong resource additions over the last several years.”
Karora is focused on increasing gold production to a targeted range of 170,000-195,000 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. In July 2022, Karora 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 5-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 km2.