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Karora Announces 22% Increase to Nickel Mineral Resources Highlighted by Maiden Resource for the 50C Trend

Karora Resources Inc.

Beta Hunt Nickel Mineral Resource Now Totals 19,600 Nickel Tonnes for Measured and Indicated and 13,200 Nickel Tonnes for Inferred

Highlights:

  • Beta Hunt Nickel Measured and Indicated Mineral Resources increased by 22% to 19,600 nickel tonnes and Inferred Mineral Resource increased by 52% to 13,200 nickel tonnes ounces.
  • Significant addition includes the Maiden 50C Trend Resource comprising Measured and Indicated 153k tonnes @ 2.8% Ni for 4,300 nickel tonnes and Inferred 124k tonnes @ 3.1% Ni for 3,800 Ni tonnes. Now in Mineral Resource, the 50C Zone was first discovered in April 2021, demonstrating the advantage of leveraging the extensive underground development in place at Beta Hunt.
  • The 50C Trend is part of the Gamma Block Nickel Mineral Resource which is defined over 800 metres of strike with potential to extend a further 1.8 kilometres to 2.6 kilometres of strike.
  • The updated Mineral Resource will be used to support a Preliminary Economic Assessment of expanded nickel production at the Beta Hunt mine which is expected to be released during the second quarter. 
  • Karora expects to update its global reserve and resources, both gold and nickel, in the fourth quarter of 2022.

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