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Donnerstag, 07.04.2022 07:32 von PR Newswire | Aufrufe: 95

Karora Announces Updated Consolidated Gold Mineral Resource Highlighted by Maiden Gold Resource for the Larkin Zone at Beta Hunt; Consolidated Mineral Resource Now Totals 2.71 Million Measured and Indicated ounces and 1.21 Million Inferred ounces

Mehrere Goldbarren. © farakos / iStock / Getty Images Plus / Getty Images http://www.gettyimages.de

Canada NewsWire

TORONTO, April 7, 2022

Highlights:

Beta Hunt Gold Measured and Indicated Mineral Resources increased by 7% to 1.12 million ounces and Inferred Mineral Resource increased by 46% to 786,000 ounces
Significant Beta Hunt additions include:

Maiden Larkin Mineral Resource comprising Measured and Indicated 1.44 million tonnes @ 2.6g/t for 119,000 ounces and Inferred 2.17 million tonnes @ 2.3g/t for 162,000 ounces

On a consolidated basis Karora's Gold Measured and Indicated Mineral Resource inventory increased by 8% to 2.71 million ounces net of mining depletion
On a consolidated basis, Karora's Gold Inferred Mineral Resources increased by 43% to 1.21 million ounces
The expanded Mineral Resource further supports Karora's Growth Plan to increase production to a targeted 185,000 - 205,000 ounces per annum by 2024

TORONTO, April 7, 2022 /CNW/ - Karora Resources Inc. (TSX: KRR) (OTCQX: KRRGF) ("Karora" or the "Corporation") is pleased to announce its Consolidated Gold Measured and Indicated ("M&I") Mineral Resource, net of depletions, has increased by 8% and the Consolidated Inferred Mineral Resources have increased by 43%. The update is highlighted by the addition of the maiden Larkin Zone Mineral Resource at Beta Hunt which contributed 1.44 million tonnes @ 2.6 g/t for 119,000 ounces in the M&I category and 2.17 million tonnes @ 2.3 g/t for 162,000 ounces in the Inferred category.

Paul Andre Huet, Chairman & CEO, commented: "We are very pleased to announce robust increases, net of mining depletion, to our Consolidated Gold Mineral Resource in the M&I category to over 2.7 million ounces and over 1.2 million ounces in the Inferred category.

In particular, the addition of the maiden Mineral Resource for the Larkin Zone at Beta is exciting as it demonstrates how quickly we were able to move from the initial discovery of the zone announced in September 2020 (see Karora news release dated September 10, 2020) to the development of our first Mineral Resource of 119,000 ounces in the M&I category and a further 162,000 ounces in the Inferred category. The Larkin Zone has been delineated to a strike length of over 1,000 metres and a depth of 150 metres and remains open along strike and at depth providing significant potential for further expansion as our drill program at Beta Hunt continues. Our ability to rapidly convert new discoveries at Beta Hunt bodes well for future Mineral Resource updates as we continue to drill at our other recent discoveries at the mine – the Fletcher Shear Zone and the Gamma Block.

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. Approximately 80% of our mill feed will come from our flagship Beta Hunt mine once operations are fully expanded to the schedule outlined in our growth plan."

Gold Mineral Resource Summary

Table 1: Gold– Consolidated Mineral Resources as at January 31, 2022

Jan-2022
Mineral
Resource

Measured

ARIVA.DE Börsen-Geflüster

Kurse

Karora Resources

4,11 $

+3,38%

Indicated

Measured & Indicated

Inferred

g/t

Koz

g/t

Koz

g/t

Koz

g/t

Koz

Beta Hunt

628

2.3

12,583

2.7

1,079

13,210

2.6

1,124

9,426

2.6

786

Higginsville

15,449

1.3

657

16,262

1.8

930

31,711

1.6

1,587

6,372

2.1

428

Total

16,077

1.5

703

28,845

2.1

2,009

44,921

1.9

2,712

15,798

2.5

1,214

Note: Refer to detailed footnotes below

Updated Consolidated Measured and Indicated ("M &I") Gold Mineral Resource totals 2.71 million ounces, an increase of 8% over September the 30, 2020 estimate. Updated Consolidated Inferred Gold Mineral Resource now totals 1.21 million ounces, representing a 43% increase. The result continues the trend of increasing Mineral Resources (Figure 1) in support of the Company's Growth Plan (see Karora news release, June 28, 2021). Major contributors to the increase in Mineral Resources are the Larkin Zone at Beta Hunt, and the Spargos Deposit at Higginsville, both detailed below:

Maiden Larkin Mineral Resource comprises Measured and Indicated 1.44 million tonne @ 2.6 g/t for 119,000 ounces and Inferred 2.17 million tonnes @ 2.3g/t for 162,000 ounces
Spargos Reward Mineral Resource comprises Measured and Indicated 1.01 million tonnes @ 3.0 g/t for 105,000 ounces and Inferred 0.40 million tonnes @ 3.5g/t for 45,000 ounces added to the Consolidated Mineral Resource (previously report in Karora news release dated June 28, 2021)

Beta Hunt

Summary

Table 2: Beta Hunt Gold Mineral Resources as at 31 January, 2022

Jan 2022
Mineral
Resource

Measured

Indicated

Measured & Indicated

Inferred

g/t

Koz

g/t

Koz

g/t

Koz

g/t

Koz

Western Flanks

315

2.4

8,446

2.8

747

8,762

2.7

772

4,959

2.7

437

A Zone

312

2.1

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