Karora Resources Inc. (TSX: KRR) announced this morning in its latest mineral resource estimate that the firm is now looking at around 2.71 million gold ounces in the measured & indicated category. This is reportedly an 8% increase over its last estimate in September 2020.
The increase is mainly driven by the maiden resource estimate coming from Larkin Zone, which contributed 119,000 ounces in the measured & indicated category. This adds to Beta Hunt’s total contribution of 1.12 million ounces in the said category. On the other hand, Higginsville contributed the remaining 1.59 million ounces in the same category.
On the inferred category, the mining firm estimates around 1.21 million gold ounces, 786,000 ounces of which were contributed by Beta Hunt and 428,000 ounces came from estimates at Higginsville.
“Our success in expanding the Beta Hunt Mineral Resource is a critical component of our growth plan to increase production to our guided range of 185,000-205,000 ounces annually by 2024,” said CEO Paul Huet.
The mining company previously announced its 2022 guidance of 110,000 – 135,000 gold ounces. On top of this, the firm announced payable nickel production guidance for next year to be 450 – 550 tonnes.
The firm now awaits its updated resource estimate for nickel in Q2 2022, which would contribute to the annual mineral resource statement in Q4 2022.
Karora Resources last traded at $6.46 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.
