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Karora Reports Strong Lake Cowan Drilling Success with Intersection of 21.1 g/t Gold Over 3 Metres Along the Sleuth Trend and the Delineation of Two New Major Shear Zones

Highlights: Early stage RC and diamond drilling at Monsoon returned very strong gold results supporting delineation of a 5 kilometre mineralized trend…

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This article was originally published by Inside Exploration

Highlights:

  • Early stage RC and diamond drilling at Monsoon returned very strong gold results supporting delineation of a 5 kilometre mineralized trend between Monsoon and Baloo. Significant intersections include:
    • KPBR0104: 21.1 g/t over 3 metres including 54.9 g/t over 1.0 metre located 1 kilometre south along strike from previously announced aircore result of 1.35 g/t over 50 metres.
    • KPBD0364: 9.0 g/t over 0.75 metres
  • Two new major shear zones, approximately 20km in length, with potential for primary gold mineralization identified at Lake Cowan
    • Two new shear zones run parallel to the major Zuleika and Boulder Lefroy regional Shear Zones which are host to major gold deposits including Golden Mile (+60M oz) and Kundana mining centre (+5M oz)
  • The Lake Cowan scout (lake aircore) drilling confirmed and built upon previously reported anomalies (+0.02g/t gold) while continuing to deliver new drill targets.
    • Whole rock geochemistry work completed on aircore drilling has resulted in both support of existing deposits and possible bedrock extensions.

TORONTO, Sept. 14, 2021 – Karora Resources Inc. (TSX: KRR) (“Karora” or the “Corporation”) is pleased to announce new exploration drilling results from Lake Cowan at its Higginsville Greater project area focused primarily on the highly prospective Sleuth Trend between the area north of Baloo open pit mine, Monsoon and south of the Nanook prospect.

Early scout drilling successes along the Sleuth Trend reported in February 2021 (including 1.35g/t over 50 metres – see news release dated February 8, 2021) warranted additional aircore drilling and geochemistry work, supported by initial targeted bedrock RC and diamond drilling. Encouraging RC and diamond results have been received from the Monsoon project, highlighted by an intercept of 21.1 g/t over 3 metres (from 62 metres), including 54.9 g/t over 1.0 metre in hole KPBR0104 and 9.0 g/t over 0.75 metres (from 130 metres) in hole KPBD0364.The strong results have been backed-up by Stage 2 aircore drilling along 5 kilometres of the Sleuth Trend between Baloo and Monsoon.

Stage 2 aircore drilling work completed by Karora across Lake Cowan has also identified two new approximately 20 kilometre long prospective shear zones which run parallel to the major Zuleika and Boulder Lefroy regional Shear Zones, associated with major deposits such as the Golden Mile (+60 M oz) in Kalgoorlie and Kundana (+5M oz).

Paul Huet, Chairman and CEO of Karora said, “New exploration drill results received from the Lake Cowan area continue to demonstrate why we are excited about the potential of this very large and underexplored area which was previously handcuffed by a very onerous royalty structure. 

Geochemical analysis work completed on the Stage 2 aircore drillholes has reinforced the presence of mineralization along 5 kilometres of the Sleuth Trend between our Baloo open pit mine and the Monsoon project, where historical intersections include 11.4 g/t over 66 metres and 6.4 g/t over 38 metres (S2 Resources news release dated July 21, 20161). Furthermore, initial RC and diamond drilling along the trend has returned strong first pass results of 21.1 g/t over 3 metres (from 62 metres), including 54.9 g/t over 1.0 metre in hole KPBR0104 and 9.0 g/t over 0.75 metres (from 130 metres) in hole KPBD0364.

I am also very pleased to announce that our wide spaced Stage 2 aircore drill program has identified gold mineralized trends with potential for two new shear zones across the Lake Cowan area approximately 20 kilometres in length. These two shears run sub-parallel to the Zuleika and Boulder Lefroy regional shear zones which have hosted many major deposits in the Kalgoorlie region. I am looking forward to furthering early stage work on these two new exciting prospect areas. Assisting us with our large regional exploration program is CSA Global, who are scheduled to deliver the results of their Sleuth Trend study, commissioned in July 2021, by the end of the third quarter.

Overall, we are pleased with the outcome of the broader regional work completed at Higginsville to date during 2021, which has been successful in its goal of identifying new targets across a very large, underexplored area. Given the potential of the region, we are excited to continue to assess these new areas.”

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Lake Cowan Slueth Trend
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1 A qualified person has not verified on behalf of the Company the historical exploration and drilling disclosed in the news release of S2 Resources.

Lake Cowan Exploration – Sleuth Trend

The Sleuth trend target area extends over 25 kilometres and includes the Baloo open pit mine and the Monsoon and Nanook prospects. (see Figure 1). The 5 kilometre segment between Baloo and Monsoon has now been aircore drill tested with low-level gold assay results supportive of the mineralized trend while initial RC and diamond drilling has indicated high grade mineralization is associated with a basalt/shale contact. A total of 17,829 metres over 414 aircore holes have been drilled over the Lake Cowan Project area in 2021 which includes the targeted Sleuth Trend.

In addition to the aircore drilling, Karora designed an initial drill program of four lake-RC and three lake-diamond holes totalling 1,355 metres to test below a strong regolith anomaly located 1 kilometre northwest of the main Monsoon prospect (and along the Sleuth Trend). The drilling was highlighted by drillhole KPBR0104 which intersected strong secondary mineralization in the regolith above the basalt/shale contact (21.2g/t over 3 metres1) and drillhole KPBD0364 which intersected primary mineralization, returning 9.0 g/t over 0.75 metres1 associated with quartz-carbonate veining and pyrite hosted by foliated basalt (see Figure 3).

1.   Downhole intervals. Estimated true widths cannot be determined with the available information.

CSA Global Sleuth Trend Study Nearing Completion

CSA Global is in the final stages of completing a 3D geological and mineralization framework model over the mineralized Sleuth Trend which includes the Baloo deposit, Monsoon and Nanook gold prospects. Work delivered to date by CSA Global incorporates whole rock geochemistry (bottom of hole) on all historic aircore drill holes, including principal component analysis as displayed in Figure 2. The results of the PC analysis support known deposits (Baloo) and indicates possible open extensions beyond known bedrock mineralization.

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Two New Shear Zones identified

Stepping outside of the Sleuth Trend, the wide-spaced aircore program returned anomalous low-level gold geochem results that, in combination with historical results and reinterpretation of regional geophysical datasets (Resource Potentials1, 2021), support the existence of two new, potentially mineralized northwest trending shear zones plus subsidiary north-south structures (see Figure 3). The interpreted northwest structures parallel the regionally prospective Boulder Lefroy Shear and Zuleika Shear zone and are yet to be tested at depth in bedrock. Based on current understanding, these new shear zones are an estimated 20 kilometres in length.

1.   Resource Potentials – a Perth based consultant company specialising in geophysical survey design, processing-modelling, interpretation, and drill hole targeting.
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Compliance Statement (JORC 2012 and NI 43-101)

The disclosure of scientific and technical information contained in this news release has been reviewed and approved by Stephen Devlin, FAusIMM, Group Geologist, Karora Resources Inc., a Qualified Person for the purposes of NI 43-101.

At Higginsville all RC and diamond drill sampling is conducted by Karora personnel. Samples for gold analysis are shipped to Bureau Veritas Laboratories of Kalgoorlie and Perth for preparation and assaying by 40 gram fire assay analytical method. All RC drill samples submitted for assay include Certified Reference Material (“CRM”) and coarse blank every 25th down hole metre. Duplicate samples are taken every 50th metre. All diamond drill samples submitted for assay include Certified Reference Material (“CRM”) or coarse blank approximately every 10th sample down hole, equating to 10 in every 100 samples.  The diamond drill samples contained no duplicate samples. The lab is also required to undertake a minimum of 1 in 45 wet screens on pulverised samples to ensure a minimum 90% passing at -75µm. Samples for low level gold (current aircore drill program) are shipped to Bureau Veritas Laboratories, Perth for preparation and assaying by 40 gram Aqua Regia Digest, with ICP-MS finish with a detection limit of 1 ppb Au. Aircore samples are presented to the laboratory as 4m composite samples. Where problems have been identified in QA/QC checks, Karora personnel and the Bureau Veritas laboratory staff have actively pursued and corrected the issues as standard procedure.

About Karora Resources 

Karora is focused on growing gold production and reducing costs at its integrated Beta Hunt Gold Mine and Higginsville Gold Operations (“HGO”) in Western Australia. The Higginsville treatment facility is a low-cost 1.4 Mtpa processing plant which is fed at capacity from Karora’s underground Beta Hunt mine and open pit Higginsville mine. At Beta Hunt, a robust gold Mineral Resource and Reserve is hosted in multiple gold shears, with gold intersections along a 4 km strike length remaining open in multiple directions. HGO has a substantial Mineral gold Resource and Reserve and prospective land package totaling approximately 1,800 square kilometers. The Company also owns the high grade Spargos Reward project which is anticipated to begin mining in 2021. Karora has a strong Board and management team focused on delivering shareholder value. Karora’s common shares trade on the TSX under the symbol KRR. Karora shares also trade on the OTCQX market under the symbol KRRGF.

Cautionary Statement Concerning Forward-Looking Statements

This news release contains “forward-looking information” including without limitation statements relating to the potential of the Beta Hunt Mine, Higginsville Gold Operation and the Spargos Gold Project.

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.

Cautionary Statement Regarding the Higginsville Mining Operations
A production decision at the Higginsville gold operations was made by previous operators of the mine, prior to the completion of the acquisition of the Higginsville gold operations by Karora and Karora made a decision to continue production subsequent to the acquisition. This decision by Karora to continue production and, to the knowledge of Karora, the prior production decision were not based on a feasibility study of mineral reserves, demonstrating economic and technical viability, and, as a result, there may be an increased uncertainty of achieving any particular level of recovery of minerals or the cost of such recovery, which include increased risks associated with developing a commercially mineable deposit. Historically, such projects have a much higher risk of economic and technical failure. There is no guarantee that anticipated production costs will be achieved. Failure to achieve the anticipated production costs would have a material adverse impact on the Corporation’s cash flow and future profitability. Readers are cautioned that there is increased uncertainty and higher risk of economic and technical failure associated with such production decisions.

Table 1(a): Aircore Drilling – Significant Intersections January 1 to July 31, 2021 (>0.02 g/t Au)

ProspectHole    IDSub intervalFrom
(m)
To
(m)
Downhole
Interval
(m)
Estimated
True Width
(m)
Au (g/t)1. 
Lake CowanHIGA926624.028.04.00.022
Lake CowanHIGA926912.017.05.00.038
Lake CowanHIGA92748.032.024.00.029
Lake CowanHIGA92758.015.07.00.093
Lake CowanHIGA927643.051.08.00.025
Lake CowanHIGA927611.031.020.00.028
Lake CowanHIGA92774.06.02.00.025
Lake CowanHIGA92780.020.020.00.032
Lake CowanHIGA928016.024.08.00.030
Lake CowanHIGA92894.032.028.00.020
Lake CowanHIGA928936.056.020.00.162
Lake CowanHIGA929332.040.08.00.021
Lake CowanHIGA92958.035.027.00.027
Lake CowanHIGA93064.08.04.00.029
Lake CowanHIGA93488.012.04.00.025
Lake CowanHIGA93508.016.08.00.075
Lake CowanHIGA93548.012.04.00.026
Lake CowanHIGA93594.016.012.00.027
Lake CowanHIGA936020.032.012.00.047
Lake CowanHIGA93628.020.012.00.021
Lake CowanHIGA93758.029.021.00.114
Lake CowanHIGA940020.024.04.00.025
Lake CowanHIGA941316.017.01.00.022
Lake CowanHIGA941540.048.08.00.035
Lake CowanHIGA941856.058.02.00.026
Lake CowanHIGA942552.064.012.00.067
Lake CowanHIGA949824.025.01.00.024
Lake CowanHIGA955834.035.01.00.021
Lake CowanHIGA956216.028.012.00.022
Lake CowanHIGA956316.026.010.00.158
Lake CowanHIGA958424.039.015.00.052
Lake CowanHIGA959336.052.016.00.049
Lake CowanHIGA959416.028.012.00.029
Lake CowanHIGA959452.064.012.00.041
Lake CowanHIGA959552.072.020.00.044
Lake CowanHIGA959724.064.040.00.024
Lake CowanHIGA959816.020.04.00.182
Lake CowanHIGA959928.031.03.00.036
Lake CowanHIGA960568.086.018.00.027
Lake CowanHIGA960668.080.012.00.034
Lake CowanHIGA960764.077.013.00.058
Lake CowanHIGA960816.028.012.00.038
Lake CowanHIGA960872.082.010.00.112
Lake CowanHIGA960968.086.018.00.221
Lake CowanHIGA961072.080.08.00.089
Lake CowanHIGA961168.078.010.00.046
Lake CowanHIGA96128.012.04.00.021
Lake CowanHIGA961288.0116.028.00.026
Lake CowanHIGA961264.080.016.00.060
Lake CowanHIGA961368.076.08.00.123
Lake CowanHIGA961664.079.015.00.021
Lake CowanHIGA961860.070.010.00.023
Lake CowanHIGA962348.052.04.00.211
Lake CowanHIGA962552.068.016.00.020
Lake CowanHIGA962656.071.015.00.021
Lake CowanHIGA962756.064.08.00.115
Lake CowanHIGA962856.060.04.00.033
Lake CowanHIGA963064.080.016.00.080
Lake CowanHIGA96310.016.016.00.036
Lake CowanHIGA963168.080.012.00.391
Lake CowanHIGA963220.024.04.00.021
Lake CowanHIGA963272.080.08.00.047
Lake CowanHIGA963360.096.036.00.043
Lake CowanHIGA963456.079.023.00.027
Lake CowanHIGA963668.084.016.00.240
Lake Cowanincluding80.081.01.01.390
Lake CowanHIGA963712.016.04.00.071
Lake CowanHIGA964072.096.024.00.098
Lake CowanHIGA964172.080.08.00.033
Lake CowanHIGA96420.04.04.00.041
Lake CowanHIGA964396.0103.07.00.039
Lake CowanHIGA964380.092.012.00.059
Lake CowanHIGA964456.081.025.00.060
Lake CowanHIGA964560.067.07.00.043
Lake CowanHIGA965052.060.08.00.165
Lake CowanHIGA965312.016.04.00.027
Lake CowanHIGA965352.088.036.00.362
Lake Cowanincluding56.060.04.03.110
Lake CowanHIGA966032.036.04.00.026
Lake CowanHIGA966112.016.04.00.051
Lake CowanHIGA966928.032.04.00.031
Lake CowanHIGA967076.080.04.00.031
Lake CowanHIGA967156.068.012.00.025
Lake CowanHIGA967172.085.013.00.041
Lake CowanHIGA967260.079.019.00.419
Lake Cowanincluding76.078.02.03.030
Lake CowanHIGA967364.084.020.00.101
Lake CowanHIGA967472.079.07.00.027
Lake CowanHIGA967572.082.010.00.056
Lake CowanHIGA967864.080.016.00.027
Lake CowanHIGA967828.032.04.00.057
Lake CowanHIGA968072.078.06.00.081
Lake CowanHIGA968448.056.08.00.048
Lake CowanHIGA968758.064.06.00.072
Lake CowanHIGA969836.037.01.00.022
Lake CowanHIGA970052.080.028.00.029
Lake CowanHIGA970636.044.08.00.141
Lake CowanHIGA971448.072.024.00.175
Lake CowanHIGA971552.077.025.00.141
Lake CowanHIGA971748.063.015.00.025
Lake CowanHIGA971820.024.04.00.021
Lake CowanHIGA972348.070.022.00.082
Lake CowanHIGA972448.073.025.00.103
Lake CowanHIGA973620.024.04.00.036
Lake CowanHIGA973636.042.06.00.054
Lake CowanHIGA973732.039.07.00.083
Lake CowanHIGA974168.080.012.00.091
Lake CowanHIGA974216.020.04.00.023
Lake CowanHIGA974668.084.016.00.106
Lake CowanHIGA974768.080.012.00.168
Lake CowanHIGA97480.020.020.00.028
Lake CowanHIGA974860.087.027.00.065
Lake CowanHIGA976016.020.04.00.021
Lake CowanHIGA97738.016.08.00.020
1.   Reported gold grades > 0.02 g/t Au over 4 metres.
2.   Downhole intervals. Estimated true widths cannot be determined with the available information.

Table 1(b): Lake Cowan RC & Diamond Drilling, January 1 to July 31, 2021 – Significant Intersections (>1g/t over 1m)

Prospect Hole IDSub intervalFrom
(m)
To
(m)
Downhole
Interval
(m)
Estimated
True Width
(m)
Au
(g/t)1.2
MonsoonKPBD0363169169.70.71.2
MonsoonKPBD0364130.31310.89.02
MonsoonKPBR010164662.01.45
MonsoonKPBR010462653.021.21
Including62631.054.9
1.  Downhole intervals. Estimated true widths cannot be determined with the available information.
2.  Significant results reported as > g/t Au over 1 metre.

Table 2(a) Drillhole Collars – Lake Cowan Air-Core Drilling, January 1 to July 31, 2021

ProspectHole   ID  NorthingEastingmRLAZIDIPTotal
Length (m)
Lake CowanHIGA93646468002394241262360-905
Lake CowanHIGA93656468001394082262360-906
Lake CowanHIGA93666468002393924262360-904
Lake CowanHIGA93676468000393760262360-906
Lake CowanHIGA93686468000393603262360-9013
Lake CowanHIGA93696468003393445262360-9015
Lake CowanHIGA93706468006393281262360-9016
Lake CowanHIGA93716468001393119262360-9018
Lake CowanHIGA93726468003392960262360-9023
Lake CowanHIGA93736468001392803262360-9023
Lake CowanHIGA93746468005392643262360-9059
Lake CowanHIGA93756467999392483262360-9029
Lake CowanHIGA93766468000392320262360-9044
Lake CowanHIGA93776468001392192262360-9019
Lake CowanHIGA93786467354392957262360-9020
Lake CowanHIGA93796467358393116262360-9012
Lake CowanHIGA93806467361393278262360-9023
Lake CowanHIGA93816467360393436262360-9029
Lake CowanHIGA93826467356393599262360-9038
Lake CowanHIGA93836467360393758262360-9030
Lake CowanHIGA93846467358393919262360-9014
Lake CowanHIGA93856467360394078262360-9042
Lake CowanHIGA93866467358394240262360-904
Lake CowanHIGA93876467357394400262360-9045
Lake CowanHIGA93886467356394560262360-9047
Lake CowanHIGA93896467357394720262360-9026
Lake CowanHIGA93906467357394881262360-9025
Lake CowanhIGA93916467360395040262360-9030
Lake CowanHIGA93926467359395199262360-9018
Lake CowanHIGA93936467359395362262360-9019
Lake CowanHIGA93946467362395517262360-908
Lake CowanHIGA93956467362395680262360-9016
Lake CowanHIGA93966467359395841262360-9025
Lake CowanHIGA93976467359396001262360-9027
Lake CowanHIGA93986467359396157262360-9027
Lake CowanHIGA93996467360396320262360-9030
Lake CowanHIGA94006467360396482262360-9024
Lake CowanHIGA94016467360396642262360-9018
Lake CowanHIGA94026466722396802262360-9011
Lake CowanHIGA94036466722396640262360-9018
Lake CowanHIGA94046466722396480262360-904
Lake CowanHIGA94056466722396320262360-905
Lake CowanHIGA94066466722396161262360-906
Lake CowanHIGA94076466722396002262360-909
Lake CowanHIGA94086466717395833262360-9012
Lake CowanHIGA94096466720395680262360-904
Lake CowanHIGA94106466720395520262360-903
Lake CowanHIGA94116466720395360262360-907
Lake CowanHIGA94126466720395200262360-9038
Lake CowanHIGA94136466720395040262360-9017
Lake CowanHIGA94146466720394717262360-9071
Lake CowanHIGA94156466720394561262360-9080
Lake CowanHIGA94166466720394400262360-9066
Lake CowanHIGA94176466720394242262360-909
Lake CowanHIGA94186466720394081262360-9058
Lake CowanHIGA94196466720393919262360-9030
Lake CowanHIGA94206466720393760262360-9030
Lake CowanHIGA94216466720393600262360-9042
Lake CowanHIGA94226466720393439262360-9031
Lake CowanHIGA94236466720393281262360-9050
Lake CowanHIGA94246466721393118262360-9052
Lake CowanHIGA94256466720392958262360-9099
Lake CowanHIGA94266466720392799262360-9043
Lake CowanHIGA94276466720392639262360-9016
Lake CowanHIGA94286466720392479262360-9010
Lake CowanHIGA94296466719392319262360-9017
Lake CowanHIGA94306466720392160262360-9019
Lake CowanHIGA94316466720392002262360-9026
Lake CowanHIGA94326466718391841262360-9018
Lake CowanHIGA94896490884395992262360-9020
Lake CowanHIGA94906490880395840262360-9037
Lake CowanHIGA94916490879395681262360-9017
Lake CowanHIGA94926490879395520262360-9045
Lake CowanHIGA94936490880395359262360-9045
Lake CowanHIGA94946490817395201262360-9012
Lake CowanHIGA94956490880395042262360-909
Lake CowanHIGA94966490880394880262360-9030
Lake CowanHIGA94976490881394721262360-9013
Lake CowanHIGA94986490880394559262360-9025
Lake CowanHIGA94996490882394401262360-909
Lake CowanHIGA95006490881394241262360-904
Lake CowanHIGA95016490879394079262360-9018
Lake CowanHIGA95026490879393918262360-904
Lake CowanHIGA95036490880393760262360-903
Lake CowanHIGA95046490880393600262360-903
Lake CowanHIGA95056490880393439262360-9016
Lake CowanHIGA95066490881393281262360-904
Lake CowanHIGA95076490880393120262360-904
Lake CowanHIGA95086490881392962262360-903
Lake CowanHIGA95096490881392800262360-904
Lake CowanHIGA95106490881392640262360-9031
Lake CowanHIGA95116490881392480262360-9028
Lake CowanHIGA95126490879392320262360-906
Lake CowanHIGA95136490880392159262360-9015
Lake CowanHIGA95146490882392000262360-903
Lake CowanHIGA95156490881391839262360-904
Lake CowanHIGA95166490880391680262360-9011
Lake CowanHIGA95176490878391520262360-9029
Lake CowanHIGA95186490879391361262360-9014
Lake CowanHIGA95196490881391202262360-907
Lake CowanHIGA95206490880391039262360-9017
Lake CowanHIGA95216490881390881262360-9049
Lake CowanHIGA95226490882390721262360-904
Lake CowanHIGA95236490881390561262360-903
Lake CowanHIGA95246490880390398262360-903
Lake CowanHIGA95256490879390241262360-9010
Lake CowanHIGA95266490881390082262360-908
Lake CowanHIGA95276490879389923262360-9013
Lake CowanHIGA95286490881389762262360-9062
Lake CowanHIGA95296490880389600262360-9028
Lake CowanHIGA95306490882389441262360-9010
Lake CowanHIGA95316490880389280262360-903
Lake CowanHIGA95326490879389121262360-9010
Lake CowanHIGA95336490878388961262360-904
Lake CowanHIGA95346490880388799262360-9012
Lake CowanHIGA95356487040390400262360-9022
Lake CowanHIGA95366487040390560262360-9024
Lake CowanHIGA95376487039390722262360-909
Lake CowanHIGA95386487040390879262360-9019
Lake CowanHIGA95396487040391041262360-9019
Lake CowanHIGA95406487039391202262360-9031
Lake CowanHIGA95416487040391360262360-9016
Lake CowanHIGA95426487041391520262360-9034
Lake CowanHIGA95436487038391680262360-9015
Lake CowanHIGA95446487040391838262360-9012
Lake CowanHIGA95456487040392000262360-9041
Lake CowanHIGA95466487039392161262360-9048
Lake CowanHIGA95476487038392320262360-9034
Lake CowanHIGA95486487040392480262360-9027
Lake CowanHIGA95496487039392640262360-9059
Lake CowanHIGA95506487039392800262360-9027
Lake CowanHIGA95516487039392959262360-9043
Lake CowanHIGA95526487039393119262360-9026
Lake CowanHIGA95536487039393241262360-9010
Lake CowanHIGA95546487040393442262360-9034
Lake CowanHIGA95556487039393600262360-9038
Lake CowanHIGA95566487040393760262360-9026
Lake CowanHIGA95576487040393919262360-9040
Lake CowanHIGA95586487040394080262360-9035
Lake CowanHIGA95596487039394241262360-9038
Lake CowanHIGA95606487040394401262360-9033
Lake CowanHIGA95616487038394561262360-9033
Lake CowanHIGA95626487040394718262360-9032
Lake CowanHIGA95636487041394881262360-9034
Lake CowanHIGA95646487040395039262360-9030
Lake CowanHIGA95656487040395200262360-9021
Lake CowanHIGA95666487040395360262360-9018
Lake CowanHIGA95676487041395521262360-9058
Lake CowanHIGA95686487039395680262360-9048
Lake CowanHIGA95696487040395845262360-9052
Lake CowanHIGA95706487039395998262360-9037
Lake CowanHIGA95716487038396159262360-9029
Lake CowanHIGA95726487040396322262360-9047
Lake CowanHIGA95736487040396478262360-9018
Lake CowanHIGA95746487039396641262360-9047
Lake CowanHIGA95756487040396799262360-9013
Lake CowanHIGA95766487040396960262360-9026
Lake CowanHIGA95776487039397121262360-9023
Lake CowanHIGA95786487040397280262360-9038
Lake CowanHIGA95796487039397440262360-9031
Lake CowanHIGA95806487039397600262360-9020
Lake CowanHIGA95816487041397759262360-9011
Lake CowanHIGA95826487040397918262360-9035
Lake CowanHIGA95836487038398081262360-9025
Lake CowanHIGA95846487040398239262360-9039
Lake CowanHIGA95856487041398400262360-9014
Lake CowanHIGA95866487040398558262360-9016
Lake CowanHIGA95876487040398722262360-9057
Lake CowanHIGA95886487040398880262360-9045
Lake CowanHIGA95896487041399040262360-9036
Lake CowanHIGA95906487041399200262360-9032
Lake CowanHIGA95916487039399359262360-9049
Lake CowanHIGA95926487040399519262360-9073
Lake CowanHIGA95936487040399679262360-9080
Lake CowanHIGA95946487039399841262360-9076
Lake CowanHIGA95956487040400001262360-9079
Lake CowanHIGA95966487041400160262360-9083
Lake CowanHIGA95976487035400318262360-9072
Lake CowanHIGA95986487040400482262360-9069
Lake CowanHIGA95996487041400638262360-9067
Lake CowanHIGA96006487040400796262360-9079
Lake CowanHIGA96016487044400955262360-9080
Lake CowanHIGA96026487042401116262360-9072
Lake CowanHIGA96036482563398239262360-9032
Lake CowanHIGA96046482565398397262360-9051
Lake CowanHIGA96056478078394323262360-9086
Lake CowanHIGA96066478076394281262360-9085
Lake CowanHIGA96076478087394200262360-9085
Lake CowanHIGA96086478087394151262360-9082
Lake CowanHIGA96096478079394121262360-9086
Lake CowanHIGA96106478078394041262360-9092
Lake CowanHIGA96116478091393997262360-9078
Lake CowanHIGA96126478090393958262360-90117
Lake CowanHIGA96136478083393879262360-90112
Lake CowanHIGA96146478080393838262360-90114
Lake CowanHIGA96156478080393799262360-9095
Lake CowanHIGA96166478080393719262360-9079
Lake CowanHIGA96176478080393680262360-9084
Lake CowanHIGA96186478079393641262360-9070
Lake CowanHIGA96196478080393600262360-9083
Lake CowanHIGA96206478000393638262360-9065
Lake CowanHIGA96216478001393680262360-9068
Lake CowanHIGA96226478000393717262360-9090
Lake CowanHIGA96236478001393759262360-9092
Lake CowanHIGA96246478000393799262360-90112
Lake CowanHIGA96256477997393838262360-90114
Lake CowanHIGA96266478000393879262360-9071
Lake CowanHIGA96276478001393920262360-90112
Lake CowanHIGA96286477999393961262360-9064
Lake CowanHIGA96296477999394000262360-9071
Lake CowanHIGA96306477999394041262360-90102
Lake CowanHIGA96316478002394081262360-90103
Lake CowanHIGA96326478002394118262360-9098
Lake CowanHIGA96336478239393959262360-9096
Lake CowanHIGA96346478241393879262360-9079
Lake CowanHIGA96356478241393800262360-9080
Lake CowanHIGA96366478239393723262360-9084
Lake CowanHIGA96376478239393642262360-9097
Lake CowanHIGA96386478241393562262360-9094
Lake CowanHIGA96396478236393481262360-9086
Lake CowanHIGA96406478398393356262360-9096
Lake CowanHIGA96416478402393440262360-9091
Lake CowanHIGA96426478403393517262360-90102
Lake CowanHIGA96436478399393598262360-90103
Lake CowanHIGA96446478400393678262360-9081
Lake CowanHIGA96456478399393836262360-9067
Lake CowanHIGA96466478400393999262360-9083
Lake CowanHIGA96476478401394159262360-9067
Lake CowanHIGA96486478727393518262360-9073
Lake CowanHIGA96496478718393361262360-9066
Lake CowanHIGA96506479048393369262360-9072
Lake CowanHIGA96516479041393280262360-9075
Lake CowanHIGA96526479042393201262360-9079
Lake CowanHIGA96536479039393123262360-9088
Lake CowanHIGA96546479040393041262360-9075
Lake CowanHIGA96556479041392960262360-9069
Lake CowanHIGA96566479359392878262360-9042
Lake CowanHIGA96576479363393035262360-9071
Lake CowanHIGA96586479681392962262360-9072
Lake CowanHIGA96596479680392881262360-9043
Lake CowanHIGA96606479680392802262360-9051
Lake CowanHIGA96616479680392718262360-9046
Lake CowanHIGA96626477434394243262360-9071
Lake CowanHIGA96636477435394316262360-9063
Lake CowanHIGA96646477436394401262360-9075
Lake CowanHIGA96656477436394482262360-9024
Lake CowanHIGA96666477440394560262360-9036
Lake CowanHIGA96676477440394642262360-9033
Lake CowanHIGA96686477440394720262360-9061
Lake CowanHIGA96696477761394960262360-9071
Lake CowanHIGA96706477761394881262360-9080
Lake CowanHIGA96716477761394800262360-9085
Lake CowanHIGA96726477761394720262360-9079
Lake CowanHIGA96736477761394642262360-9084
Lake CowanHIGA96746477761394563262360-9079
Lake CowanHIGA96756477761394481262360-9082
Lake CowanHIGA96766478077394798262360-9098
Lake CowanHIGA96776478081394969262360-9089
Lake CowanHIGA96786478080395121262360-9092
Lake CowanHIGA96796478400395359262360-9077
Lake CowanHIGA96806478401395281262360-9086
Lake CowanHIGA96816478400395200262360-9072
Lake CowanHIGA96826478400395120262360-9083
Lake CowanHIGA96836478400395040262360-9084
Lake CowanHIGA96846478400394959262360-9067
Lake CowanHIGA96856478401394879262360-9077
Lake CowanHIGA96866478720395119262360-9075
Lake CowanHIGA96876478720395281262360-9076
Lake CowanHIGA96886478720395440262360-9077
Lake CowanHIGA96896478718395599262360-9074
Lake CowanHIGA96906478720395761262360-9066
Lake CowanHIGA96916478720395919262360-9065
Lake CowanHIGA96926479360395840262360-9078
Lake CowanHIGA96936479360395678262360-9079
Lake CowanHIGA96946479360395521262360-9096
Lake CowanHIGA96956479361395360262360-9081
Lake CowanHIGA96966477440395681262360-9050
Lake CowanHIGA96976477440395840262360-9061
Lake CowanHIGA96986477442395998262360-9048
Lake CowanHIGA96996477440396156262360-9078
Lake CowanHIGA97006477440396319262360-9082
Lake CowanHIGA97016477440396478262360-9063
Lake CowanHIGA97026477441396632262360-9080
Lake CowanHIGA97036477443396797262360-9065
Lake CowanHIGA97046476801396803262360-9054
Lake CowanHIGA97056476799396644262360-9036
Lake CowanHIGA97066476798396482262360-9044
Lake CowanHIGA97076476802396322262360-9049
Lake CowanHIGA97086476801396163262360-9063
Lake CowanHIGA97096476800396001262360-9080
Lake CowanHIGA97106476801395842262360-9076
Lake CowanHIGA97116476799395679262360-9052
Lake CowanHIGA97126476798395523262360-9082
Lake CowanHIGA97136476160395679262360-9072
Lake CowanHIGA97146476157395837262360-9072
Lake CowanHIGA97156476157396001262360-9077
Lake CowanHIGA97166476154396160262360-9065
Lake CowanHIGA97176476158396319262360-9063
Lake CowanHIGA97186476159396479262360-9061
Lake CowanHIGA97196476174396647262360-9035
Lake CowanHIGA97206476157396797262360-9053
Lake CowanHIGA97216475520396480262360-9057
Lake CowanHIGA97226475517396320262360-9073
Lake CowanHIGA97236475519396161262360-9070
Lake CowanHIGA97246475517396002262360-9073
Lake CowanHIGA97256475523395838262360-9088
Lake CowanHIGA97266475519395679262360-9069
Lake CowanHIGA97276477441398721262360-90118
Lake CowanHIGA97286477444398880262360-9057
Lake CowanHIGA97296477440399039262360-9054
Lake CowanHIGA97306477442399200262360-9063
Lake CowanHIGA97316477440399359262360-9065
Lake CowanHIGA97326477441399520262360-9041
Lake CowanHIGA97336477442399683262360-9065
Lake CowanHIGA97346477441399840262360-9069
Lake CowanHIGA97356477441399850262360-9071
Lake CowanHIGA97366478093399279262360-9042
Lake CowanHIGA97376478080399121262360-9039
Lake CowanHIGA97386479360399521262360-9071
Lake CowanHIGA97396479361399361262360-9063
Lake CowanHIGA97406479359399200262360-9066
Lake CowanHIGA97416479356399041262360-9087
Lake CowanHIGA97426479360398880262360-9092
Lake CowanHIGA97436479360398719262360-9074
Lake CowanHIGA97446479361398560262360-9058
Lake CowanHIGA97456479360398402262360-9083
Lake CowanHIGA97466479360398239262360-9084
Lake CowanHIGA97476479360398078262360-9080
Lake CowanHIGA97486479360397921262360-9087
Lake CowanHIGA97496480640398079262360-9055
Lake CowanHIGA97506480640398240262360-9067
Lake CowanHIGA97516480640398399262360-9080
Lake CowanHIGA97526480641398560262360-9073
Lake CowanHIGA97536480642398716262360-9078
Lake CowanHIGA97546480639398881262360-9073
Lake CowanHIGA97556480647399038262360-9067
Lake CowanHIGA97566480647399200262360-9051
Lake CowanHIGA97576480643399358262360-9052
Lake CowanHIGA97586481600399041262360-9054
Lake CowanHIGA97596481597398882262360-9072
Lake CowanHIGA97606481600398716262360-9066
Lake CowanHIGA97616481602398565262360-9071
Lake CowanHIGA97626481604398403262360-9061
Lake CowanHIGA97636481599398243262360-9065
Lake CowanHIGA97646481599398081262360-9073
Lake CowanHIGA97656481600397921262360-9069
Lake CowanHIGA97666485199390721262360-9032
Lake CowanHIGA97676485200390640262360-9050
Lake CowanHIGA97686485200390560262360-9026
Lake CowanHIGA97696485202390522262360-9022
Lake CowanHIGA97706485201390483262360-9025
Lake CowanHIGA97716485201390443262360-9034
Lake CowanHIGA97726485202390402262360-9014
Lake CowanHIGA97736485202390360262360-9029
Lake CowanHIGA97746485200390324262360-9029
Lake CowanHIGA97756485199390281262360-9016
Lake CowanHIGA97766485200390240262360-903
Lake CowanHIGA97776485202390203262360-904
Lake CowanHIGA97786485201390170262360-903
Lake CowanHIGA97796484957390598262360-907
Lake CowanHIGA97806484958390640262360-9024
Lake CowanHIGA97816484957390677262360-9014
Lake CowanHIGA97826484959390719262360-9020
Lake CowanHIGA97836484718391082262360-9049
Lake CowanHIGA97846484718391042262360-9041
Lake CowanHIGA97856484721391005262360-9032
Lake CowanHIGA97866484720390962262360-909
Lake CowanHIGA97876484722390922262360-9014
Lake CowanHIGA97886484726390882262360-909
Lake CowanHIGA97896484725390842262360-909
Lake CowanHIGA97906484726390801262360-9016
Lake CowanHIGA97916484722390758262360-903
Lake CowanHIGA97926484720390720262360-902
Lake CowanHIGA97936484477390840262360-902
Lake CowanHIGA97946484476390880262360-902
Lake CowanHIGA97956484478390921262360-903
Lake CowanHIGA97966484478390962262360-9014
Lake CowanHIGA97976484478391002262360-9014
Lake CowanHIGA97986484478391041262360-9030
Lake CowanHIGA97996484475391084262360-9033
Lake CowanHIGA98006484243391077262360-906
Lake CowanHIGA98016484241391059262360-907
Lake CowanHIGA98026484241391038262360-907
Lake CowanHIGA98036484242391016262360-905
Lake CowanHIGA98046484241390998262360-903
Lake CowanHIGA98056484242390979262360-903
Lake CowanHIGA98066484242390958262360-903
Lake CowanHIGA98076484241390940262360-903
Lake CowanHIGA98086484242390922262360-903
Lake CowanHIGA98096484241390898262360-903
Lake CowanHIGA98106484242390879262360-903
Lake CowanHIGA98116484242390860262360-903
Lake CowanHIGA98126484242390841262360-903
Lake CowanHIGA98136484242390821262360-904
Lake CowanHIGA98146484242390800262360-903
Lake CowanHIGA98156484005390880262360-903
Lake CowanHIGA98166484005390901262360-903
Lake CowanHIGA98176484005390919262360-904
Lake CowanHIGA98186484003390938262360-904
Lake CowanHIGA98196484006390958262360-903
Lake CowanHIGA98206484005390977262360-905
Lake CowanHIGA98216484002391001262360-905
Lake CowanHIGA98226484002391020262360-903
Lake CowanHIGA98236484000391042262360-903
Lake CowanHIGA98246484002391063262360-903
Lake CowanHIGA98256484002391082262360-905
Lake CowanHIGA98266484001391102262360-904
Lake CowanHIGA98276483763391120262360-903
Lake CowanHIGA98286483762391096262360-903
Lake CowanHIGA98296483762391080262360-903
Lake CowanHIGA98306483760391059262360-903
Lake CowanHIGA98316483761391041262360-902
Lake CowanHIGA98326483760391020262360-902
Lake CowanHIGA98336483763391002262360-901
Note:  Eastings and Northings in MGA, Zone 51

Table 2(b) Drillhole Collars – Lake Cowan RC and Diamond Drilling, January 1 to July 31, 2021

ProspectHole    ID NorthingEastingmRLAZIDIPTotal Length
(m)
Lake Cowan/MonsoonKPBD0363647774839371326290-60237.2
Lake Cowan/MonsoonKPBD0364647743139371926290-60192.2
Lake Cowan/MonsoonKPBD0365647727139371926290-60180.2
Lake Cowan/MonsoonKPBR0101647774739383526390.92-60.88150
Lake Cowan/MonsoonKPBR0102647727639379226392.64-60.47150
Lake Cowan/MonsoonKPBR0103647743239391826388.2-59.64150
Lake Cowan/MonsoonKPBR0104647744839387626393.74-60.93174
Note:  Eastings and Northings in MGA, Zone 51

SOURCE Karora Resources Inc.

Articles

Lefroy finds 6 anomalies at Burns, will kick off RC drilling next month

Special Report: Gold explorer Lefroy has identified six new magnetic anomalies, extending the Burns intrusive corridor to 3000m at its … Read More
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Gold explorer Lefroy has identified six new magnetic anomalies, extending the Burns intrusive corridor to 3000m at its Lefroy gold project near Kalgoorlie.

Burns has a distinctive, positive, aerial magnetic signature due to strong magnetite alteration of the porphyry and basalt rocks that host the mineralisation.

An aeromagnetic survey over the prospect identified the new anomalies, which have defined a corridor of dioritic intrusions – each of which are considered prospective for mineralisation.

Notably, the northwest trending corridor is over 3000m long and is coincident with a +200 parts per million drill hole copper anomaly based on resampling of wide spaced historical geochemical holes.

Lefroy Exploration (ASX:LEX) is focusing on the largest and northernmost magnetic anomaly – Lovejoy – which lies beneath Lake Randall and is adjacent to the strongest drill hole copper anomaly.

Multiple anomalies support a major structure at Burns

While the company has yet to establish the association between Burns and the diorite porphyry intrusions, it believes there’s a genetic relationship between them.

Lefroy also considers the copper and gold mineralisation hosted by both the diorite porphyry, basalt, and massive magnetite veins to be a new style of gold-copper-silver mineralisation in the area.

“The images from the new magnetic data further support our interpretation that the Burns prospect is one of a number of magnetic anomalies each centred on diorite porphyries considered prospective for gold-copper-silver mineralisation,” Lefroy managing director Wade Johnson said.

“These form a corridor of intrusives, likely along a major structure that potentially extends further to the northwest out to Neon.”

Pic: TMI RTP aeromagnetic image showing the full extent of the new aeromagnetic survey and the pronounced annular magnetic anomaly around the Burns Intrusion.

Lovejoy the priority target

The company says the magnetic anomalies provide strong rationale for an exploration program.

Planning is underway for an RC drilling program to begin in October, with drilling at Lake Randall – initially at the Lovejoy site – planned for November.

“We are very keen to commence RC drill testing of these magnetic anomalies, firstly on land then out on to Lake Randall, with Lovejoy the priority,” Johnson said.

“We have plenty of scope to demonstrate that what we have already discovered at Burns is part of a much larger mineral system, outboard of the larger Burns Intrusion that is also yet to be evaluated.”

 


 

 

This article was developed in collaboration with Lefroy Exploration Limited, a Stockhead advertiser at the time of publishing.

 

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.

The post Lefroy finds 6 anomalies at Burns, will kick off RC drilling next month appeared first on Stockhead.

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Articles

REZ’s nickel hunt continues at East Menzies with more historic finds

Special Report: REZ’s East Menzies gold project is continuing to reveal its nickel prospectivity, with further research of old reports … Read More
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REZ’s East Menzies gold project is continuing to reveal its nickel prospectivity, with further research of old reports unearthing more significant intervals of nickel mineralisation from as close to just 1m from surface. 

Resources & Energy Group’s (ASX:REZ) ongoing nickel investigations at the Springfield and Cepline prospects, part of East Menzies project in WA, have uncovered peak assays from historic drilling of 12m at 1.22% nickel from 2m, 9m at 1.08% nickel from 1m and 7m at 1.46% nickel from 16m.

These intercepts, which were the result of aircore drilling by Pronto Resources in 2008 and rotary air blast drilling by Great Australian Resources (GAR) in 2004, also contained cobalt and zinc mineralisation.

It reads like an Indiana Jones or National Treasure script, REZ was drilling for gold at the Springfield prospect when it hit nickel.

The Richard Poole-led company then discovered some old CRA (now Rio Tinto) and BHP reports which showed the two mining heavyweights had found nickel as far back as the late 60s but weren’t interested in it because they only wanted gold.

Over five decades later, nickel is all the rage thanks to the energy transition and the base metal’s importance in batteries.

“Significantly, the bottom of hole assays for the GAR drillholes terminated in bedrock zones with high nickel content.” – Executive Director Richard Poole  

These results included 15m at 0.13% nickel and 14m at 0.06% nickel, both from 82m depth.

“This further research by REZ has identified additional mineral exploration results at the

Cepline prospect which support the initial findings of nickel mineralisation by BHP in 1986.” – Executive Director Richard Poole   

Nickel holy grail

Now, Richard Poole says these additional results support the view that the ultramafic rocks along the Springfield side of the East Menzies project are prospective for nickel sulphides.

Nickel resources are usually divided between laterite or sulphide deposits.

Sulphides are the holy grail for explorers because they are easier and cheaper to process. This is also what makes nickel sulphides the preferred choice of electric vehicle battery makers.

BHP back in 1986 reported significantly high values of nickel, with a peak grade of 2.9%, and as close to surface as just 6m.

This was at the Cepline prospect in the Springfield Venn zone, some 800m north of the REZ’s recent scout drilling program.

Borehole location plan showing geology and intervals of sulphide mineralisation

Nearly 20 years earlier, CRA reported surface rock samples grading 0.95% to 1.43%, and drill results of 10ft at 1.49% from 55ft and 15ft at 0.77% from 170ft.

Sydney-based REZ is undertaking further research towards developing a suitable exploration program to investigate the mineral bearing potential of the area.

Resources & Energy Group (ASX:REZ) share price chart

 


 

 

This article was developed in collaboration with Resources & Energy Group, a Stockhead advertiser at the time of publishing.

 

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.

The post REZ’s nickel hunt continues at East Menzies with more historic finds appeared first on Stockhead.

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IRIS jumps straight to gold drilling at Kookynie

Special Report: ASX newcomer IRIS has put boots on the ground just days after listing with the start of a … Read More
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ASX newcomer IRIS has put boots on the ground just days after listing with the start of a 5,000m reverse circulation drill program at its flagship Kookynie gold project.

The program is testing known structures at the Lily, Rise & Shine and Treasure-Whale prospects that have historically hosted high-grade gold mineralisation.

IRIS Metals (ASX:IR1) notes that this first pass program is based on a combination of desktop studies involving the review of historical information, site reconnaissance/field activities and valuable first-hand, empirical information obtained from local prospectors with intimate knowledge of the ground.

This program is expected to take about four weeks to complete though assays will be dispatched to the laboratory on a regular basis to ensure timely reporting.

“I congratulate our executive team on the successful ASX listing and the immediate commencement of drilling. We have promised investors that we plan to explore, so we are pleased to be immediately underway,” chairman Simon Lill said.

“The initial drill program will test Lily, Rise and Shine and Treasure-Whale, which historically are known to host high grade gold mineralisation, and have not been subject to systematic drill testing since the 1990s.”

Assay results from the drilling and interpretation of an aeromagnetic survey, which is expected soon, will be combined to plan the next round of drilling.

Drill rig on site at Kookynie. Pic: Supplied

 

Drill program

Drilling at the Lily prospect will test both around historical high-grade workings and at depth along 400m of the prominent northeast trending, south dipping feature in the Niagara Gabbro Complex.

At Rise & Shine, drilling will locate and test continuity at depth of apparent low angle, southerly-dipping, east to northeast-striking quartz veins and stockworks.

Drilling at the Treasure and Whale prospects will test the prominent shallow south-dipping northeast trending structures as well as potential depth extensions.

IRIS metals drill map locations gold kookynie
IRIS leases and drill locations. Pic: Supplied

This article was developed in collaboration with IRIS Metals, a Stockhead advertiser at the time of publishing.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.

The post IRIS jumps straight to gold drilling at Kookynie appeared first on Stockhead.

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