Recent drilling from Karora Resources Inc.’s (TSX: KRR) (OTCQX: KRRGF) nine-hole drill program returned high grade gold, including 4.8 grams per tonne (g/t) over 32 metres and 4.9 g/t over 5.0 metres at its Beta Hunt Gold Mine in Western Australia.
Announced on Tuesday, the company’s most recent drilling program confirms the existence of a mineralized system west of the Western Flanks, and indicates the potential for the Fletcher Shear Zone (FSZ) to be the third major gold system in the Hunt block after Western Flanks and A Zone.
In 2023, drilling operations focused on the southern 500 meters of the FSZ potential, which is located north of the Alpha Island Fault (AIF). The company conducted a total of 5,657 meters of drilling during this year’s drilling campaign.
Karora finished the second round of drilling, consisting of nine diamond drill holes. Below are the noteworthy findings from each of these holes.
- WF405ACC-48AE: 4.8 g/t over 32 metres and 4.9 g/t over 5.0 metres
- WF405ACC-49AE: 3.6 g/t over 34.5 metres and 11.2 g/t over 2.0 metres
- BF1730-24AE: 15.9 g/t over 6.0 metres (EOH) and 18.0g/t over 3.0 metres
- BF1730-23AE: 7.9 g/t over 3.0 metres
- WF405ACC-50AE: 7.3 g/t over 3.0 metres and 2.2 g/t over 8.0 metres
All the holes encountered significant amounts of valuable minerals in the targeted FSZ zone. Additionally, they found more mineralization in the areas between the Western Flanks and the FSZ. This suggests the possibility of having valuable mineral deposits running alongside and above the FSZ.
“The southern end of Fletcher is positioned very near to existing nickel infrastructure in the Beta Block and the Larkin Mineral Reserve to the south, only 250 metres from hole BL1730-04AE,” said Paul Andre Huet, chairman and CEO in a statement.
“Once again, this demonstrates the infrastructure advantage we enjoy at Beta Hunt with over 400 km of existing tunnels which generally offer a great potential head start to bring new production areas online, such as with Fletcher.”
Cross-Section looking north – Fletcher South most northern drill line. Image via Karora Resources Inc.
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Recent drilling results help Karora understand southern Fletcher Shear Zone
The company’s recent drilling results have led to a revised understanding of the southern FSZ, now placing it 100 meters further east and closer to the Western Flanks Mineral Resource. This reinterpretation is supported by significant mineralized intersections recently achieved during drilling on the most northern line of the infill program. These intersections are characterized by strong shearing, alteration and quartz veining, all of which are typical features of the FSZ.
In addition, variable mineralized zones, both wide and narrow, with shear and extensional quartz veining to the west of the southern FSZ, are now seen as part of a new mineralized system in the hangingwall of the main FSZ. Recent results, such as 15.9 grams of gold per tonne over 6.0 meters and 7.9 grams of gold per tonne over 3 meters, highlight the significance of this upper layer system.
Karora Resources shares dipped by 1 per cent to $4.10 on Tuesday on the Toronto Stock Exchange.
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