A new nickel discovery has been made by Karora Resources (TSX: KRR). The discovery has been made at the firms Beta Hunt Mine, and is incredibly just twenty-five metres from existing mining infrastructure on the property.
High grade nickel mineralization was intersected by the company at what it refers to as the Hunt Block, where infill drilling of the existing gold resource intersected high grade nickel within two separate holes. The discovery is being classified as an offset to the 4C nickel trough which was mine nearly two decades ago in 2004. The discovery is said to be just 25 metres from where active mining is occurring at the Western Flanks gold deposit.
Highlights from drilling include:
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- BW-1704-07AG: 6.5% nickel over 11.9 metres
- BW-1704-05AG: 3.0% nickel over 4.6 metres
“This discovery is particularly exciting and significant because it represents a potential new high grade nickel zone that we can potentially mine in the near term,” said Paul Andre Huet, CEO of Karora.
Nickel sulphides were also reportedly intersected at the Beta Block, where the company is focused on upgrading and extending the 30C and 25C troughs. Highlights from this drilling includes:
- BL1890-001AR: 2.0% nickel over 4.0 metres
- B25-20-006NE: 5.1% nickel over 3.3 metres
- B25-20-014NE: 4.6% nickel over 1.3 metres
Follow up drilling is reportedly underway to better define the geometry and extent of the new nickel discovery at the Hunt Block. The company also continues to drill test for new nickel troughs based on this discovery.
Karora Resources last traded at $2.93 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.
