February 27, 2024
Karora Resources Inc. (TSX:KRR, BUY, C$7.50 target, David A. Talbot) reported assays from the initial six holes completed as part of its 4,200m nickel resource expansion drill program at the 50C deposit of its Beta Hunt project in Australia. Highlights include: 1) 8.2% Ni over 5.1m, including 13.7% Ni over 2.6m (G50-22-26NE), 2) 12.0% Ni over 2.9m (G50-22-27NE), and 3) 8.8% Ni over 3.3m (G50-22-23NE). These results represent some of the highest-grade intersections reported from 50C to date and demonstrate the potential for resource upgrade and expansion at the Gamma Block Ni mineral resource, which hosts an M&I+I resource containing ~14.2kt Ni. There remains potential to extend 50C at least ~400m toward SE as demonstrated by a historical drill hole on the southern end of the property, that returned 11.4% Ni over 9.5m (map). We look forward to the results from step-out drilling to the SE, as well as the updated MRE expected later in the year. Read more
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Karora Resources Inc. – TSX:KRR – 7
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