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Karora Resources intercepts 168 g/t gold near surface at Spargos

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Image credit: Karora Resources

(Kitco News) - Karora Resources (TSX: KRR) called its exploration program “very strong” after starting a 12,000 metre drill program at the Spargos project, with several high grade gold intercepts over broad widths intercepted in mineralization located within and on the margins of the interpreted high grade main zone.

Best drill intercepts include: 29.8 g/t over 19.0 metres, including 99.5 g/t over 5.0 metres; 27.3 g/t over 15.0 metres, including 168.0 g/t over 1.3 metres.

The new drill results reported are all within approximately 100 metres of surface and could potentially be included in an expanded open pit scenario.

Chairman and CEO Paul Andre Huet said the drill results are “outstanding” and the results “exceeded their internal expectations.”

"Our exploration drilling program at Spargos is off to a tremendous start. I am thrilled to share our new drill results with the market. Our first pass exploration drilling aimed at following up on the broad, high grade historical drill intercept 19SPRRC0042 (37.1 g/t over 18.0 metres) has returned outstanding results that have exceeded our internal expectations. It is not often that these kinds of grades are drilled over such widths this close to surface. I am very much looking forward to our exploration team continuing to test the area,” said Huet.

The Spargos Reward project tenements cover 33 square kilometres, located in the Eastern Goldfields of Western Australia, just 65km north of Karora's Higginsville mill by road. The project contains an existing historical (JORC (2012) Mineral Resource Estimate of 112,000 oz (785,800 tonnes @ 4.4 g/t) indicated resource and 19,000 oz (151,000 tonnes @ 4.0 g/t) inferred resource.

Karora is focused on growing gold production and reducing costs at its integrated Beta Hunt Gold Mine and Higginsville Gold Operations in Western Australia. The Higginsville treatment facility is a low-cost 1.4 Mtpa processing plant which is fed at capacity from Karora's underground Beta Hunt mine and open pit Higginsville mine.
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