Karora Resources Inc announced 2022 gold production guidance of between 110,000 and 135,000 ounces at anticipated all-in sustaining costs (AISC) of US$950 to US$1,050 per ounce sold.
The company also said initial nickel production at its Beta Hunt mine in Western Australia this year is forecasted to range between 450 and 550 nickel tonnes.
“We enjoyed strong exploration success in 2021 at Beta Hunt with both new discoveries and significant extensions of gold zones (Larkin, Fletcher and Gamma) and nickel zones (50C and 30C),” Karora Resources CEO Paul Andre Huet said in a statement.
READ: Karora announces record annual gold production from Beta Hunt and Higginsville mines in Western Australia
“In 2022, we will continue to push ahead on the exploration and resource development front with an aggressive drilling program planned across both operations with total expected expenditures of between A$21 - A$24 million,” Huet added.
Karora noted the 2022 nickel guidance does not include any nickel production from the newly-discovered 50C/Gamma zone.
As well, the company reported that 85,000 metres (m) of surface and underground drilling is planned at Beta Hunt and Higginsville during 2022, with 43,000m of resource definition drilling being directed at upgrading and extending existing mineral resources.
It added that at Beta Hunt drilling will test more of the eight kilometre strike of the gold and nickel mineralized system, with 16,000m of drilling designed to test and upgrade nickel targets, while at Higginsville 13,000m of drilling is aimed at extending, upgrading and adding additional mineral resources at Spargos.
Karora Resources is now a "top tier" junior gold producer in Western Australia, having started its transformation - when known as RNC Minerals - with its purchase in 2019 of the Higginsville Gold Operations (HGO).
The company is focused on growing gold production and reducing costs at the integrated Beta Hunt gold mine and the Higginsville mine and its associated treatment facility.
At Beta Hunt, a robust gold mineral resource and reserve is hosted in multiple gold shears, with gold intersections along a four-kilometer strike length remaining open in multiple directions.
Contact Sean at sean@proactiveinvestors.com