Karora Resources Inc (TSE:KRR) (OTCMKTS:KRRGF) (FRA:5RN1) revealed new high-grade gold intercepts from an ongoing drill program at the Larkin Zone at its Beta Hunt gold mine on Monday.
Drilling intersected 19 grams per ton (g/t) gold over 9 metres (m), including 542 g/t over 0.3m, and 6.4 g/t over 3m, including 16.2 g/t over 1m.
The Toronto-based miner is currently in the midst of an infill and step-out drill program designed to convert an earlier discover at the Larkin Zone into mineral resources.
READ: Karora Resources beats production guidance for 2020 after record gold output
In September 2020, Karora unveiled a new discovery at Larkin after drilling returned gold mineralization results both in drill core and channel samples. One wall sample returned 5 g/t over 14.4m, including a 2.6m interval grading 22.7 g/t.
Other results reported Monday, include 2.3 g/t over 9.7m and 4 g/t over 3m. Visible gold mineralization occurred in one of the drill cores.
CEO Paul Huet told shareholders that the results demonstrate the potential of the new zone, which is outside of Beta Hunt’s current production centres of Western Flanks and A Zone.
"The results reinforce our strong belief that the Beta Hunt mine has the potential for significant gold resource growth and expansion beyond the substantial increase in reserves and resources announced in December 2020,” Huet said in a statement. “We are excited by the potential at Larkin and are keen to bring the zone into our mineral resource this year.”
Huet added that the Larkin Zone has a key infrastructure advantage, as development drifts are in place to access proximal nickel mineralization. “Preliminary engineering work is already underway to prepare this area as the next mining zone at Beta Hunt,” the CEO said.
To date, 3,540m of a planned 6,100m program have been completed with the balance of the drilling due to be completed in the first half of 2021.
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