Globe & Mail 08:19 AM EST, 02/08/2021 (MT Newswires) -- Karora Resources Inc. (KRR.TO) on Monday said exploration drilling at the Lake Cowan target on its Higginsville Greater property in Australia showed gold mineralization.
The company said best result from the drilling program included 1.35 grams per tonne of gold over 50 meters, and 0.31 gpt of gold over 20 meters.
"Initial scout drilling results from our Lake Cowan prospect, which is part of the Higginsville Greater exploration area, have been particularly promising. All of the results are located at relatively shallow depths," chief executive Paul Huet said in a release.
Karora also said it promoted Oliver Turner to executive vice president for corporate development.
Karora shares closed up C$0.14 to C$3.54 Friday on the Toronto Stock Exchange.
Price: 3.5400, Change: +0.1400, Percent Change: +4.12