• September 15, 2021

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

Published on September 15th, 2021


  • 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 1. Tables showing complete results and drill holes can be found at the end of this news release.
  • 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, September 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.”

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.

Read full Announcement

SOURCE: Karora Gold
DATE: September 14, 2021

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