- Karora Resources Inc. (KRR) has drilled its new gold mineralized shear zones at its Beta Hunt Mine
- Drilling was planned to help increase gold production up to 205,000 ounces by 2024
- The targets have overlying nickel mineralization trends and historical gold intersections
- Also, construction activities at the mine are on track and on budget to be done early 2023
- Karora Resources Inc. (KRR) is up 5.63 per cent trading at $3.28 per share as of 1:31 p.m. ET
Karora Resources (KRR) has drilled its new mineralized shear zones, which returned some average grades of gold at its Beta Hunt Mine.
The company stated that this latest drilling was planned to help increase gold production from 185,000 to 205,000 ounces by 2024. Interpreted parallel shear zones to the Larkin Zone Mineral Resource, referred to by Karora as Mason and Cowcill, returned hopeful gold assays in the first two drill holes of a 24-hole program.
“I am encouraged by the first set of new gold drill results from the Mason and Cowcill shear zones… results support our previous interpretation of these gold mineralized systems that run parallel to the Larkin Zone on both sides,” Paul Andre Huet, Chairman and CEO of Karora, said.
The drill targets are allegedly supported by overlying nickel mineralization trends and historical gold intersections. An additional nine holes have been completed to test for the zones along strike.
Karora also announced that construction activities to install the second decline at the Beta Hunt Mine are approximately 67 per cent complete, and it expects to complete construction early next year. Work on a vent raise is scheduled to begin at the end of the month.
“In addition to our recent exploration and resource definition drilling results, completing the second decline and vent raise installations at Beta Hunt are also critical tasks to position us to achieve our growth plan targets and I am very pleased that both are proceeding more rapidly than originally forecast,” Huet said.
Karora Resources Inc. (KRR) is up 5.63 per cent trading at $3.28 per share as of 1:31 p.m. ET.
