09:36 AM EST, 11/02/2020 (MT Newswires) -- Karora Resources Inc. (KRR.TO) at last look jumped 9.4% after saying Monday that its underground development at the Beta Hunt Mine in Western Australia has intersected an estimated 2,000 ounces of coarse gold.
The intersection was in the same geological environment as previous coarse gold occurences and near the 2018 Father's Day Vein discovery. The discovery also supports the existing Beta Hunt coarse gold geological model, the company said.
The new coarse gold occurrence adds to other development headings in A Zone and Western Flanks that also support the Beta Hunt coarse gold model, which could potentially apply to other areas in the mine.
Karora does not include coarse gold in its reserves, but the occurrences are best considered as a "potential periodic significant bonus" that adds to its ongoing economic mine production at the base reserve grade.