(Kitco News) - Karora Resources (TSX: KRR) announced Monday that gold measured and indicated mineral resources, net of depletion, at its flagship Beta Hunt mine increased by 20% to 1.35 million ounces and inferred mineral resources increased by 34% to 1.05 million ounces.
The company also reported that gold proven and probable reserves increased by 12% to 538,000 ounces.
Chairman and CEO Paul Andre Huet commented, "Our success in expanding the Beta Hunt mineral resource is a critical step in continuing to feed an extended mine life as we increase production rates over the next couple years. Once the expanded Beta Hunt mining capacity is fully ramped up to its targeted capacity of 2 Mtpa, approximately 80% of our mill feed will come from our flagship Beta Hunt mine.
"In 2023, we will be focusing both on upgrading inferred mineral resources to the measured and indicated categories and on continued expansion of our reserve base, net of mining depletions. As we continue to execute on our aggressive underground drilling program in 2023, leveraging the +400km of extensive infrastructure already in place, we look forward to continued potential ounce additions supporting an extended mine life at Beta Hunt."
Karora is focused on increasing gold production to a targeted range of 185,000-205,000 ounces by 2024 at its integrated Beta Hunt gold mine and Higginsville gold operations in Western Australia. The company also owns the high grade Spargos Reward project, which came into production in 2021.
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