- Karora Resources (KRR) has updated and increased its resources estimate by 10 per cent on the Beta Hunt underground mine in Australia
- The mine’s indicated resource category increased by 8.00 per cent to 21,100 nickel tonnes, and the inferred category went up by 2.00 per cent to 13,400 nickel tonnes
- The company stated its 2023 work will focus on nickel resource development drilling at Beta Hunt focused on the East Alpha and Gamma zones
- However, the company’s recently discovered 4C deposit has not yet been incorporated into the new nickel mineral resource
- Karora Resources (KRR) is down 6.80 per cent, trading at $4.11 per share as of 2:46 p.m. EST
Karora Resources (KRR) has updated and increased its resources estimate by 10 per cent on the Beta Hunt underground mine in Australia.
Specifically, the mine-indicated resource category increased by 8.00 per cent to 21,100 nickel tonnes, and the inferred category went up by 2.00 per cent to 13,400 nickel tonnes, net of mining depletions.
Beta Hunt plan view showing locations of the Beta Hunt nickel Mineral Resource (Source: Karora Resources)
Paul Andre Huet, Chairman and CEO of KRR, commented,
“This increase as of September 30, 2022, is a strong result being just eight months since the last update in January 2022 with only remnant mining completed over the course of 2022… The resource additions were all from the Beta Block area north of the Gamma Fault, primarily in the Beta West zone.”
The company stated its 2023 work will focus on nickel resource development drilling at Beta Hunt. Work on the mine has been designed to upgrade and extend the East Alpha and 40C mineral resources in the Beta zone and the 50C and 10C mineral resources in the Gamma zone.
Company unlocking mine’s potential
“As we have stated several times before, we are just beginning to unlock the potential for nickel mineralization south of the Gamma fault… Upon expansion of our ventilation capacity via the addition of three vent raises this year, we will be able to increase both our drilling and development efforts in this area at the southern extent of our operation,” Huet added.
The new nickel mineral resource included the Beta west resource and updates to the Beta central resource. However, the company’s recently discovered 4C deposit has not yet been incorporated into the new nickel mineral resource.
Karora Resources (KRR) is down 6.80 per cent, trading at $4.11 per share as of 2:46 p.m. EST.