Karora Resources Inc announced a very strong start to its 12,000 metre drill program at the Spargos Project, with several high grade gold intercepts over broad widths intercepted in mineralization located within and on the margins of the interpreted high grade main zone. The new drill results reported are all within approximately 100 metres of surface and could potentially be included in an expanded open pit scenario. Paul Andre Huet, Chairman & CEO, commented: "Our exploration drilling program at Spargos is off to a tremendous start. I am thrilled to share our new drill results with the market. Our first pass exploration drilling aimed at following up on the broad, high grade historical drill intercept 19SPRRC0042 (37.1 g/t over 18.0 metres) has returned outstanding results that have exceeded our internal expectations. It is not often that these kinds of grades are drilled over such widths this close to surface. I am very much looking forward to our exploration team continuing to test the area.”
The results announced today are within and along strike of the main high grade zone already included in the open pit planned by the previous owners of Spargos. The new mineralization we have encountered has identified a potential new plunging shoot which remains open both along strike and down-plunge. We currently have two drills turning on the project with one focused on exploration and one focused on resource definition drilling ahead of our upcoming resource and reserve estimate in December, which will form the basis of an initial mine plan. I look forward to providing additional drill results from Spargos as they become available from our ongoing programs"