11:09 AM EDT, 09/08/2020 (MT Newswires) -- Karora Resources (KRR.TO) rallied 5.2% to $3.63 apiece at last look Tuesday after it it has identified a new gold footwall zone and high grade nickel intercepts at the northern end of the Western Flanks resource.

Drilling has also discovered new gold mineralization in the footwall striking parallel to and at the top of the existing resource, said Karora.

CEO Paul Andre Huet said: "Following a short pause in drilling at Beta Hunt due to COVID-19 precautions, we now have two drills operating full time on both gold and nickel targets. We are extremely pleased to announce the early success in expanding our potential mineral resource base.

"Our drilling in the Western Flanks shear zone, which is one of two gold production zones at Beta Hunt, has returned very strong results to the north, upgrading the existing resource and expanding the known mineralization with the discovery of a new footwall zone. Encouragingly, both of our production zones, Western Flanks and A Zone, remain open to the north and at depth.

Price: 3.54, Change: +0.09, Percent Change: +2.61