Update: Karora Resources Gains 1.8% as Details Initial Results from Drill Campaign at Spargos Project

Karora Resources

Dumont Nickel Project - 8.4 billion pounds of nickel resources - Abitibi

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Update: Karora Resources Gains 1.8% as Details Initial Results from Drill Campaign at Spargos Project

posted on Nov 18, 2020 10:18AM

2020-11-18 10:15:28 AM ET (MT Newswires)

10:15 AM EST, 11/18/2020 (MT Newswires) -- Karora Resources Inc. (KRR.TO) at last look rose 1.8%, recovering yesterday's losses, after reporting Wednesday initial drill results from its 12,000-meter drill campaign at the Spargos gold project.

Highlights included 29.8 g/t over 19.0 meters, including 99.5 g/t over 5.0 meters, 27.3 g/t over 15.0 meters, including 168.0 g/t over 1.3 meters and 8.0 g/t over 19.0 meters, including 20.6 g/t over 2.0 meters.

The results are all within about 100 meters of surface and could potentially be included in an expanded open pit scenario.

Two reverse circulation drill rigs are currently active at Spargos. A new resource estimate on Spargos is expected to be included in the company's resource and reserve update in the fourth quarter.