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(Wallace Refiners) – Karora Resources (TSX: KRR) announced today a 334% increase in consolidated gold Proven and Probable Mineral Reserves to 1.33 million ounces for its Beta Hunt and Higginsville operations in Western Australia.
The updated Mineral Resource and Reserve estimate is effective as of September 30, 2020.
According to the company’s statement, consolidated gold Proven and Probable Mineral Reserves increased by 334 % to 1.33 million ounces, and consolidated gold Measured and Indicated Mineral Resources increased by 167% to 2.52 million ounces.
The new consolidated gold Mineral Resources and Reserves will form the basis of Karora’s organic growth profile to be announced in the first quarter of 2021.
Chairman & CEO Paul Andre Huet commented, “The 334% increase in the 2P gold Mineral Reserves to 1.33 million ounces and 167% increase in gold Mineral Resources to over 2.5 million ounces is an outstanding achievement for Karora. This update marks the establishment of our very first consolidated Mineral Resource and Reserve estimate across our two primary assets in Beta Hunt and Higginsville, completed on schedule despite significant drilling delays associated with COVID-19 precautions during the middle of the year. Importantly, the very large increases are net of mining depletion through to the end of the third quarter of 2020.”
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