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Tuesday, Apr 16, 2024
Mugglehead Magazine
Alternative investment news based in Vancouver, B.C.


Karora Resources sees positive results at Australia’s Beta Hunt Mine

The company’s Western Flanks diamond drill program intersected 9.5 g/t Au over 7 metres

Karora Resources sees positive results at Australia's Beta Hunt Mine
Beta Hunt underground mine entrance, Western Australia. Photo via Karora Resources

Karora Resources Inc. (TSX: KRR) (OTCQX: KRRGF) continues to observe positive results at its Beta Hunt underground gold mine in Western Australia.

On Monday, the Toronto-based gold producer announced that it had intersected 9.5 grams per tonne over 7.1 metres at the Western Flanks zone of the site.

Between the beginning of October and mid-December last year, 37 holes were drilled at Beta Hunt for a total of 9,152 metres.

Read more: Calibre Mining offers a ‘very attractive’ value-risk proposition: Haywood Securities

Read more: Calibre Mining Pan Mine assays show strong potential for Coyote mine target

“The new results reported from the Western Flanks deep drilling program continue to be very strong, demonstrating robust results from the southern section of the zone,” said Paul Andre Huet, CEO of Karora.

“These results build on the previously reported strong deep drilling results from the central section of Western Flanks and provide more confidence in the consistency of gold mineralization,” added Huet.

“Overall, the results reported today support the potential for significant ongoing Mineral Resource growth that exists at Beta Hunt, following on from several years of impressive ounce additions at our flagship asset.”

Karora’s stock rose by 1.5 per cent today to $5.43 on the Toronto Stock Exchange.

Read more: Calibre Mining 2022 operating results show year round gold production of 222K ounces

Read more: Calibre releases short doc on environmental initiatives in Nicaragua

Calibre Mining (TSX: CXB) (OTCQX: CXBMF) is another Canadian gold producer that has been observing positive results from its assays and ongoing drill programs.

The company will soon be advancing a 38,400-metre drill program in Nevada focused primarily on promising new targets it has identified and the expansion of its known resources.

Calibre generated approximately 222,000 ounces of gold last year and was recently acknowledged by the investment banking firm Haywood Securities Inc. as being a worthwhile low-risk investment.

Calibre’s stock dropped by 2.68 per cent today to $1.09 on the TSX.


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