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Third Major Beta Hunt Shear Zone Extended to Over 500 metres of Strike with Potential to Extend Over 2 kilometres and New Gamma Block Gold Mineralization Delineated Over 200 metres of Strike

Karora Resources Inc.

Highlights:

  • Gold mineralization in the Fletcher Shear Zone, the third major Beta Hunt Shear Zone, has now been extended to over 500 metres along strike and 150 metres in vertical extent with step-out drilling. Potential exists for the Shear Zone to extend up to 2 kilometres in strike while remaining open at depth. A total of 4 holes have been drilled to date with further drilling planned later this year.

    Results include1.:
    • AF18LV-07AE:  3.3 g/t over 9.5 metres, including 5.5 g/t over 4.4 metres
    • AF18LV-16AE:   18.5 g/t over 0.8 metres
      Previously reported results include2.:
    • WF14-98 (Lode A):  2.67 g/t over 6.2 metres, including 3.1g/t over 3.1 metres; and
    • WF14-98 (Lode B):  2.32 g/t over 11.2 metres, including 3.8 g/t over 4.8 metres
    • FZ350-001:  1.21 g/t over 17.5 metres including 5.87g/t over 0.54 metres
       
  • New drilling in the Gamma Block, which also targeted the 50C nickel trough, has confirmed significant gold mineralization over a 200 metre strike length. New drilling results1 include: 
    • G50-22-009NR:  3.4g/t over 33.6 metres including 6.0 g/t over 10.5 metres
    • G55-22-006NR:  7.6 g/t over 8.4 metres, including 12.1 g/t over 4.6 metres
    • G50-22-012NE:  12.9 g/t over 2.0 metres
    • Proposed level development into the Gamma gold mineralization will also be utilized to access the 50C Nickel zone, reducing costs and timing for both nickel and gold mining activities
  1. Interval lengths are downhole widths. Estimated true widths cannot be determined with available information
  2. Interval lengths are estimated true widths
  3. Tables showing complete results and drill holes can be found at the end of this news release.

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