Karora Resources (TSX: KRR) this morning released the latest drill results from its Beta Hunt drill program. Referring to the results as the “highest grade interval to-date,” the results are said to indicate the potential for high grade mineralization to continue at depth.
Highlights from the results, which focused on the Larkin Zone, include:
- BL1890-01AR: 4.2 g/t gold over 6.9 metres
- BL1890-03AR: 29.8 g/t gold over 7.8 metres
- BL1890-13AR: 8.7 g/t gold over 4.0 metres
Notably, hole BL1890-03AR is said to have been drilled 20 metres beyond the boundaries of the mineral resource established at site, while also being 120 metres below the ultramafic/basalt contact. The implication of this is that it demonstrates potential for higher grade areas yet to be discovered at depth.
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“While our mined grades are consistent with our 2.6 g/t Mineral Reserve, we often encounter higher grade pockets such as those reported in today’s announcement, with one returning almost an ounce per tonne intercept – an exciting result in any gold mine,” commented CEO Paul Andrew Huet.
A total of 3,298 metres of drilling has been conducted on the Larkin Zone this year, via a total of 17 drill holes. The resource estimate for the zone currently consists of 119,000 measured and indicated gold ounces, as ell as 162,000 inferred gold ounces. Drill results from the program are expected to be included in a mineral resource update planned for the fourth quarter.
The drilling results follow the company last week posting its second quarter production data, which lead to a notable decline in the firms valuation as investors appeared to be dissatisfied with the current state of the firms cash balance.
Karora Resources last traded at $2.83 on the TSX.
Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
