- Mason: 6.0 g/t Au over 13.0 metres (BM1890-25AE)
- Cowcill: 2.4 g/t Au over 5.0 metres (BC1704-009AE)
1. | Interval lengths are downhole widths. Estimated true widths cannot be determined with available information. |
Additionally, Karora is pleased to announce that construction activities to install the second decline at the
Our flagship Beta
Results for the first two holes drilled this year to test for the Mason and Cowcill Zones were received. Mason and Cowcill are interpreted parallel gold mineralized shear zones to the
Significant results were received in both holes (Figure 1) and are listed below:
- Mason: BM1890-25AE - 6.0 g/t Au over 13.0 metres
- Cowcill: BC1704-009AE - 2.4g/t Au over 5.0 metres
The Mason intersection of 6.0 g/t Au over 13.0 metres occurs 250 metres west of Larkin, 160 metres below the ultramafic contact and offset from the 90 metre intersection in drill hole EL-EA2-004AE, 80 metres to the north. Mineralization is associated with weakly sheared, biotite-pyrite altered basalt and both shear and extensional quartz veining. The Cowcill intersection occurs 90 metres below gold and nickel mineralization on the ultramafic/basalt contact. Mineralization is associated with strong shearing, quartz shear veinlets and intense biotite-pyrite +/- albite alteration. Both intersections are deep (> 90m below the contact) which provides encouragement for the delineation of a strong and extensive mineralized system with further drilling.
An additional nine holes of the twenty-four hole program have been completed to test for the Cowcill and Mason Zones along strike of the two holes the subject of this release. Results are expected to be received for these additional holes before the end of the third quarter.
The disclosure of scientific and technical information contained in this news release has been reviewed and approved by Stephen Devlin, FAusIMM, Group Geologist,
At Beta Hunt all drill core sampling is conducted by Karora personnel. Samples for gold analysis are shipped to SGS Mineral Services of Kalgoorlie for preparation and assaying by 50 gram fire assay analytical method. All gold diamond drilling samples submitted for assay include at least one blank and one Certified Reference Material ("CRM") per batch, plus one CRM or blank every 20 samples. In samples with observed visible gold mineralization, a coarse blank is inserted after the visible gold mineralization to serve as both a coarse flush to prevent contamination of subsequent samples and a test for gold smearing from one sample to the next which may have resulted from inadequate cleaning of the crusher and pulveriser. The lab is also required to undertake a minimum of 1 in 20 wet screens on pulverised samples to ensure a minimum 90% passing at -75µm. Samples for nickel analysis are shipped to SGS Australia Mineral Services of Kalgoorlie for preparation. Pulps are then shipped to
Karora is focused on increasing gold production to a targeted range of 185,000-205,000 ounces by 2024 at its integrated
This news release contains "forward-looking information" including without limitation statements relating to the liquidity and capital resources of Karora, production guidance, growth plan strategy to deliver increased gold production, the expected timing to complete the construction and development activities at the
Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Karora to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Factors that could affect the outcome include, among others: future prices and the supply of metals; the results of drilling; inability to raise the money necessary to incur the expenditures required to retain and advance the properties; environmental liabilities (known and unknown); general business, economic, competitive, political and social uncertainties; results of exploration programs; accidents, labour disputes and other risks of the mining industry; political instability, terrorism, insurrection or war; or delays in obtaining governmental approvals, projected cash operating costs, failure to obtain regulatory or shareholder approvals. For a more detailed discussion of such risks and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements, refer to Karora 's filings with Canadian securities regulators, including the most recent Annual Information Form, available on SEDAR at www.sedar.com.
Although Karora has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Forward-looking statements contained herein are made as of the date of this news release and Karora disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by applicable securities laws.
Target | Hole ID | Sub | From | To (m) | Downhole | Au (g/t)1. |
Cowcill | BC1704- | 67 | 72 | 5.0 | 2.0 | |
109.4 | 115 | 5.6 | 1.5 | |||
122.9 | 126 | 3.1 | 1.6 | |||
187 | 192 | 5.0 | 2.4 | |||
297 | 299 | 2.0 | 3.0 | |||
Mason | BM1890- | 7 | 9 | 2.0 | 7.0 | |
110 | 111 | 1.0 | 3.1 | |||
153 | 157 | 4.0 | 1.3 | |||
273.8 | 275 | 1.1 | 4.6 | |||
284 | 285 | 1.0 | 11.4 | |||
302.1 | 303 | 0.9 | 4.1 | |||
414 | 427 | 13.0 | 6.0 |
1.Reported gold grades > 1.0 g/t downhole and gram x metre > 5 |
2. Estimated true widths cannot be determined with available information |
Target/ Prospect | Hole ID | MGA_N | MGA_E | mRL | DIP | AZI | Total |
Cowcill | BC1704-009AE | 6543392.3 | 375449.2 | -291.9 | -20.1 | 204.5 | 383.5 |
Mason | BM1890-25AE | 6542766.3 | 375338.8 | -388.0 | -44.7 | 241.2 | 432.6 |
SOURCE
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