K92 Mining Inc. (“
K92” or the
“
Company”) (TSX-V
: KNT;
OTCQX
: KNTNF) is pleased to announce results from
the continuing diamond drilling of the Kora North Extension of the
Kainantu gold mine in Papua New Guinea.
The results for the latest 10 diamond drill
holes completed from both surface and underground into the Kora
North deposit are summarized in Table 1 below. The results include
multiple high-grade intersections, and in particular KMDD0147 &
KMDD0147A, which are among our most southern holes at Kora North
and among the highest grade intersections to date at the Kainantu
Gold Mine. KMDD0147 recorded a K1 intersection stepping out ~100m
to the south at ~1100m RL of 13.60 m at 107.55 g/t Au, 103 g/t Ag
and 1.50% Cu (111.34 g/t gold equivalent (“AuEq”), 6.44 m true
width). KMDD0147A, proximal to KMD0147, recorded a K1 intersection
of 13.00 m at 288.73 g/t Au, 104 g/t Ag and 0.77% Cu (291.34 g/t
AuEq, 6.15 m true width). As shown in our long sections (see Figure
1 and Figure 2), drilling to date has documented higher grades to
the South.
Infill drilling continues to record high grades,
with highlights including KMDD00186 recording a K1 intersection of
8.72 m at 167.12 g/t Au, 19 g/t Ag and 1.10% Cu (169.16 g/t AuEq,
4.19 m true width) and a K2 intersection of 8.77 m at 8.09 g/t Au,
35 g/t Ag and 1.72% Cu (11.35 g/t AuEq, 4.05 m true width), and
KMDD00184 recording a K2 intersection of 12.60 m at 17.78 g/t Au,
19 g/t Ag and 0.25% Cu (18.43 g/t AuEq, 5.42 m true width).
Our drill results also continue to demonstrate
the potential to extend known mineralization up-dip and to depth.
KMDD0145, our deepest Kora North drill hole to date, recorded a K1
intersection of 5.49 m at 11.71 g/t Au, 5 g/t Ag and 0.04% Cu
(11.84 g/t AuEq, 1.51 m true width) at ~850m elevation. The K1
intersection is ~50m below and ~400m along strike to the north from
previously reported KMDD0143 of 2.00 m at 5.09 g/t Au, 24 g/t Ag
and 4.16% Cu (11.77 g/t AuEq, 0.92 m true width). Surface hole
EKDD0007A, located in a sparsely drilled area of “Kora Gap”,
between the Kora / Eutompi resource and ~200m up-dip of the October
2018 Kora North resource recorded 4.04 m at 17.09 g/t Au, 15 g/t Ag
and 1.22% Cu (19.15 g/t AuEq, 2.59 m true width) at ~1500m
elevation.
The results show that the K1 and K2 vein
systems, combined with those previously reported, have a vertical
extent of over 1,000 metres from surface and still open at depth.
Long sections of K1 and K2 showing the location of the latest drill
holes are provided in Figures 1 and 2, respectively.
(Gold Equivalent (AuEq) is calculated using
copper price of US$2.90/lb, silver price of US$16.5/oz and gold
price of US$1,300/oz.)
John Lewins, K92 Chief Executive Officer and
Director, stated, “The reported results continue to demonstrate the
high-grade pedigree and continuity of the Kora/Kora North system.
The results also highlight the high potential for the
mineralization to extend to depth, up-dip of Kora North and along
strike to the South. The reported results include two step-out
holes to the South, KMDD0147 and KMDD0147A, which are among the
highest grade intersections at Kainantu to date. KMDD0147 recorded
a K1 intersection of 13.60 m at 107.55 g/t Au, 103 g/t Ag and 1.50%
Cu (111.34 g/t AuEq, 6.44 m true width) and KMDD0147A, proximal to
KMD0147, recorded a K1 intersection of 13.00 m at 288.73 g/t Au,
104 g/t Ag and 0.77% Cu (291.34 g/t AuEq, 6.15 m true width). Our
infill drilling also continues to deliver high grades, with
KMDD0186 recording a K1 Vein intersection of 8.72 m at 167.12 g/t
Au, 19 g/t Ag and 1.10% Cu (169.16 g/t AuEq, 4.19 m true
width).
KMDD0145, our deepest hole drilled to date,
recorded a K1 intersection of 5.49 m at 11.71 g/t Au, 5 g/t Ag and
0.04% Cu (11.84 g/t AuEq, 1.51 m true width). This hole is
particularly significant as it is more than 300 m below the current
operating level, demonstrates a 1km mineralized vertical window at
K1 and that the Kora/Kora North system remains open at depth.
KMDD0145 also reported a K2 vein intersection, which was low grade,
but is nevertheless important as it demonstrates that the structure
remains robust to depth (1.9 m true width intersection) and other,
previously reported, K2 deeper drilling is high grade. Our drill
program plans to drill even deeper.
As we continue our development towards the
southern boundary of our mining lease, we have recently established
our most southerly drill cuddy. We have now commenced drilling from
this cuddy and anticipate our first results from step out holes
from this cuddy in the coming weeks. We are particularly excited
about this, as Kora North drilling to date has recorded higher
grades in both the K1 and K2 veins, along strike to the south.”
Table 1 - Kainantu Gold Mine –
Significant Intercepts from Diamond Drilling
Hole_id |
From(m) |
To (m) |
Interval(m) |
Truewidth(m) |
Goldg/t |
Silverg/t |
Copper% |
Goldequivalent1 |
Comment |
KMDD0184 |
92.6 |
93.6 |
1.00 |
0.38 |
3.76 |
1 |
0.01 |
3.79 |
|
KMDD0184 |
99.2 |
100.2 |
1.00 |
0.38 |
3.10 |
1 |
0.03 |
3.16 |
|
KMDD0184 |
104.8 |
112.95 |
8.15 |
3.56 |
3.36 |
1 |
0.31 |
3.88 |
K1 |
including |
104.8 |
105.8 |
1.00 |
0.38 |
12.90 |
1 |
0.02 |
12.95 |
|
including |
105.8 |
106.1 |
0.30 |
0.11 |
0.62 |
1 |
0.02 |
0.67 |
|
including |
106.1 |
107.1 |
1.00 |
0.38 |
5.57 |
1 |
0.33 |
6.12 |
|
including |
107.1 |
108.1 |
1.00 |
0.38 |
0.13 |
1 |
0.17 |
0.41 |
|
including |
108.1 |
109.1 |
1.00 |
0.38 |
0.12 |
1 |
0.38 |
0.76 |
|
including |
109.1 |
110.17 |
1.07 |
0.38 |
0.14 |
1 |
0.22 |
0.51 |
|
including |
110.17 |
111.17 |
1.00 |
0.38 |
0.13 |
1 |
0.05 |
0.22 |
|
including |
111.17 |
111.9 |
0.73 |
0.38 |
2.99 |
1 |
0.49 |
3.80 |
|
including |
111.9 |
112.6 |
0.70 |
0.38 |
0.13 |
1 |
0.14 |
0.38 |
|
including |
112.6 |
112.95 |
0.35 |
0.38 |
8.91 |
1 |
1.08 |
10.68 |
|
KMDD0184 |
119.05 |
121.7 |
2.65 |
1.08 |
0.73 |
2 |
3.29 |
6.12 |
KL |
Including |
119.05 |
120.05 |
1.00 |
0.41 |
1.18 |
1 |
0.25 |
1.60 |
|
Including |
120.05 |
120.7 |
0.65 |
0.27 |
0.74 |
5 |
2.32 |
4.59 |
|
Including |
120.7 |
121.7 |
1.00 |
0.41 |
0.28 |
2 |
6.96 |
11.65 |
|
KMDD0184 |
126.1 |
138.7 |
12.60 |
5.42 |
17.78 |
19 |
0.25 |
18.43 |
K2 |
Including |
126.1 |
127.1 |
1.00 |
0.43 |
6.09 |
1 |
0.18 |
6.40 |
|
Including |
127.1 |
128.1 |
1.00 |
0.43 |
2.30 |
2 |
0.42 |
3.02 |
|
Including |
128.1 |
128.7 |
0.60 |
0.26 |
0.19 |
1 |
0.06 |
0.30 |
|
Including |
128.7 |
129.7 |
1.00 |
0.43 |
1.04 |
1 |
0.04 |
1.11 |
|
Including |
129.7 |
130.7 |
1.00 |
0.43 |
0.66 |
1 |
0.16 |
0.93 |
|
Including |
130.7 |
131.4 |
0.70 |
0.30 |
0.69 |
1 |
0.29 |
1.17 |
|
Including |
131.4 |
132.4 |
1.00 |
0.43 |
6.57 |
1 |
0.14 |
6.81 |
|
Including |
132.4 |
133.2 |
0.80 |
0.34 |
13.70 |
1 |
0.10 |
13.87 |
|
Including |
133.2 |
134.2 |
1.00 |
0.43 |
59.80 |
86 |
0.99 |
62.54 |
|
Including |
134.2 |
135.2 |
1.00 |
0.43 |
39.20 |
91 |
0.63 |
41.41 |
|
Including |
135.2 |
136.2 |
1.00 |
0.43 |
1.07 |
1 |
0.07 |
1.20 |
|
Including |
136.2 |
137.2 |
1.00 |
0.43 |
22.20 |
11 |
0.06 |
22.44 |
|
Including |
137.2 |
137.82 |
0.62 |
0.27 |
12.40 |
1 |
0.03 |
12.47 |
|
Including |
137.82 |
138.7 |
0.88 |
0.38 |
74.90 |
41 |
0.14 |
75.67 |
|
KMDD0184 |
149.4 |
149.7 |
0.30 |
0.13 |
1.55 |
20 |
0.28 |
2.27 |
|
KMDD0184 |
149.7 |
150.7 |
1.00 |
0.43 |
1.56 |
32 |
0.53 |
2.84 |
|
KMDD0184 |
150.7 |
151.4 |
0.70 |
0.30 |
1.26 |
19 |
0.36 |
2.10 |
|
KMDD0186 |
3 |
4 |
1.00 |
0.48 |
3.90 |
2 |
0.01 |
3.95 |
|
KMDD0186 |
18.9 |
19.9 |
1.00 |
0.48 |
1.91 |
1 |
0.00 |
1.93 |
|
KMDD0186 |
23.4 |
24.4 |
1.00 |
0.48 |
2.56 |
2 |
0.02 |
2.62 |
|
KMDD0186 |
74.6 |
83.32 |
8.72 |
4.19 |
167.12 |
19 |
1.10 |
169.16 |
K1 |
Including |
74.6 |
75.6 |
1.00 |
0.48 |
1090.00 |
101 |
3.68 |
1097.32 |
|
Including |
75.6 |
76.2 |
0.60 |
0.29 |
510.00 |
17 |
1.32 |
512.37 |
|
Including |
76.2 |
77.2 |
1.00 |
0.48 |
35.20 |
15 |
3.95 |
41.83 |
|
Including |
77.2 |
78.2 |
1.00 |
0.48 |
1.83 |
2 |
0.28 |
2.31 |
|
Including |
78.2 |
78.6 |
0.40 |
0.19 |
1.41 |
47 |
0.50 |
2.84 |
|
Including |
78.6 |
79.6 |
1.00 |
0.48 |
5.27 |
2 |
0.44 |
6.01 |
|
Including |
79.6 |
80.34 |
0.74 |
0.36 |
8.46 |
1 |
0.04 |
8.54 |
|
Including |
80.34 |
81.34 |
1.00 |
0.48 |
5.45 |
1 |
0.01 |
5.49 |
|
Including |
81.34 |
81.9 |
0.56 |
0.27 |
1.73 |
1 |
0.01 |
1.76 |
|
Including |
81.9 |
82.3 |
0.40 |
0.19 |
0.56 |
1 |
0.02 |
0.60 |
|
Including |
82.3 |
83.32 |
1.02 |
0.49 |
5.41 |
17 |
0.15 |
5.88 |
|
KMDD0186 |
94.2 |
102.97 |
8.77 |
4.05 |
8.09 |
35 |
1.72 |
11.35 |
K2 |
Including |
94.2 |
95.2 |
1.00 |
0.46 |
0.54 |
1 |
0.30 |
1.03 |
|
Including |
95.2 |
96.2 |
1.00 |
0.46 |
4.36 |
41 |
5.49 |
13.84 |
|
Including |
96.2 |
97.05 |
0.85 |
0.39 |
5.46 |
9 |
0.41 |
6.25 |
|
Including |
97.05 |
97.93 |
0.88 |
0.41 |
66.80 |
49 |
8.14 |
80.70 |
|
Including |
97.93 |
98.93 |
1.00 |
0.46 |
0.35 |
10 |
0.17 |
0.75 |
|
Including |
98.93 |
99.97 |
1.04 |
0.48 |
0.93 |
21 |
0.11 |
1.39 |
|
Including |
99.97 |
100.97 |
1.00 |
0.46 |
0.61 |
12 |
0.24 |
1.16 |
|
Including |
100.97 |
101.97 |
1.00 |
0.46 |
0.56 |
42 |
0.64 |
2.15 |
|
Including |
101.97 |
102.97 |
1.00 |
0.46 |
0.14 |
129 |
0.63 |
2.86 |
|
KMDD0186 |
103.85 |
104.85 |
1.00 |
0.46 |
1.56 |
20 |
0.31 |
2.32 |
|
KMDD0188 |
74 |
83.15 |
9.15 |
5.05 |
4.23 |
1.9 |
0.23 |
4.63 |
K1 |
including |
74 |
74.7 |
0.70 |
0.39 |
11.34 |
3 |
0.45 |
12.11 |
|
including |
74.7 |
76 |
1.30 |
0.72 |
0.31 |
2 |
0.24 |
0.73 |
|
including |
76 |
77.5 |
1.50 |
0.83 |
0.42 |
2 |
0.30 |
0.93 |
|
including |
77.5 |
79.1 |
1.60 |
0.88 |
5.39 |
2 |
0.24 |
5.81 |
|
including |
79.1 |
80.6 |
1.50 |
0.83 |
6.72 |
1 |
0.05 |
6.82 |
|
including |
80.6 |
81.44 |
0.84 |
0.46 |
0.20 |
1 |
0.01 |
0.22 |
|
including |
81.44 |
82.17 |
0.73 |
0.40 |
6.46 |
2 |
0.04 |
6.56 |
|
including |
82.17 |
83.15 |
0.98 |
0.54 |
6.26 |
3 |
0.52 |
7.14 |
|
KMDD0188 |
104.3 |
105.56 |
1.26 |
0.69 |
0.32 |
14 |
0.58 |
1.39 |
K2 |
KMDD0145 |
288 |
290.9 |
2.90 |
0.80 |
9.46 |
9 |
0.10 |
9.74 |
|
KMDD0145 |
362.76 |
368.25 |
5.49 |
1.51 |
11.71 |
5 |
0.04 |
11.84 |
K1 |
Including |
362.76 |
364 |
1.24 |
0.34 |
39.60 |
14 |
0.08 |
39.91 |
|
Including |
364 |
365.05 |
1.05 |
0.29 |
12.30 |
5 |
0.04 |
12.44 |
|
Including |
365.05 |
366 |
0.95 |
0.26 |
0.48 |
1 |
0.01 |
0.51 |
|
Including |
366 |
367 |
1.00 |
0.27 |
0.32 |
1 |
0.02 |
0.36 |
|
Including |
367 |
368.25 |
1.25 |
0.34 |
1.20 |
2 |
0.03 |
1.27 |
|
KMDD0145 |
472 |
479 |
7.00 |
1.92 |
0.18 |
2 |
0.10 |
0.37 |
K2 |
including |
472 |
473.39 |
1.39 |
0.38 |
0.19 |
4 |
0.22 |
0.57 |
|
including |
473.39 |
474 |
0.61 |
0.17 |
0.06 |
3 |
0.27 |
0.51 |
|
including |
474 |
475 |
1.00 |
0.27 |
0.03 |
1 |
0.01 |
0.06 |
|
including |
475 |
476 |
1.00 |
0.27 |
0.08 |
2 |
0.01 |
0.11 |
|
including |
476 |
477 |
1.00 |
0.27 |
0.12 |
1 |
0.01 |
0.14 |
|
including |
477 |
478 |
1.00 |
0.27 |
0.17 |
3 |
0.08 |
0.34 |
|
including |
478 |
479 |
1.00 |
0.27 |
0.59 |
3 |
0.15 |
0.85 |
|
KMDD0147 |
240.67 |
241.05 |
0.38 |
0.18 |
8.21 |
4 |
1.01 |
9.90 |
K1 |
KMDD0147 |
263.93 |
265 |
1.07 |
0.51 |
1.46 |
2 |
0.09 |
1.62 |
|
KMDD0147 |
267.5 |
281.1 |
13.60 |
6.44 |
107.55 |
103 |
1.50 |
111.34 |
K2 |
Including |
267.5 |
268.55 |
1.05 |
0.50 |
0.45 |
4 |
0.78 |
1.77 |
|
Including |
268.55 |
269.46 |
0.91 |
0.43 |
9.52 |
13 |
1.49 |
12.11 |
|
Including |
269.46 |
270 |
0.54 |
0.26 |
0.14 |
1 |
0.10 |
0.32 |
|
Including |
270 |
270.87 |
0.87 |
0.41 |
0.13 |
1 |
0.08 |
0.27 |
|
Including |
270.87 |
271.7 |
0.83 |
0.39 |
16.30 |
6 |
0.72 |
17.56 |
|
Including |
271.7 |
272 |
0.30 |
0.14 |
4.28 |
2 |
0.06 |
4.41 |
|
Including |
272 |
273 |
1.00 |
0.47 |
13.20 |
40 |
2.23 |
17.36 |
|
Including |
273 |
274 |
1.00 |
0.47 |
0.07 |
1 |
0.07 |
0.19 |
|
Including |
274 |
275 |
1.00 |
0.47 |
0.10 |
3 |
0.14 |
0.37 |
|
Including |
275 |
275.2 |
0.20 |
0.09 |
0.07 |
2 |
0.03 |
0.15 |
|
Including |
275.2 |
276 |
0.80 |
0.38 |
1.95 |
125 |
7.27 |
15.43 |
|
Including |
276 |
276.95 |
0.95 |
0.45 |
23.00 |
60 |
6.71 |
34.72 |
|
Including |
276.95 |
277.6 |
0.65 |
0.31 |
0.57 |
60 |
0.51 |
2.19 |
|
Including |
277.6 |
278.6 |
1.00 |
0.47 |
60.80 |
430 |
0.93 |
67.93 |
|
Including |
278.6 |
279.1 |
0.50 |
0.24 |
2675.00 |
1350 |
2.64 |
2696.93 |
|
Including |
279.1 |
280.1 |
1.00 |
0.47 |
0.44 |
11 |
0.31 |
1.09 |
|
Including |
280.1 |
281.1 |
1.00 |
0.47 |
2.60 |
15 |
0.01 |
2.82 |
|
KMDD0147 |
284.1 |
285.1 |
1.00 |
0.47 |
2.21 |
1 |
0.01 |
2.23 |
|
KMDD0147A |
265.4 |
278.4 |
13.00 |
6.15 |
288.73 |
104 |
0.77 |
291.34 |
K2 |
Including |
265.4 |
266.2 |
0.80 |
0.38 |
5.27 |
3 |
0.36 |
5.90 |
|
Including |
266.2 |
266.66 |
0.46 |
0.22 |
20.07 |
18 |
1.57 |
22.86 |
|
Including |
266.66 |
267.66 |
1.00 |
0.47 |
0.10 |
3 |
0.06 |
0.24 |
|
Including |
267.66 |
268.35 |
0.69 |
0.33 |
1.49 |
3 |
0.15 |
1.78 |
|
Including |
268.35 |
269.2 |
0.85 |
0.40 |
57.22 |
14 |
1.21 |
59.38 |
|
Including |
269.2 |
270.15 |
0.95 |
0.45 |
15.91 |
14 |
0.91 |
17.57 |
|
Including |
270.15 |
271.15 |
1.00 |
0.47 |
0.32 |
3 |
0.03 |
0.40 |
|
Including |
271.15 |
272.15 |
1.00 |
0.47 |
0.11 |
3 |
0.08 |
0.29 |
|
Including |
272.15 |
272.45 |
0.30 |
0.14 |
0.10 |
4 |
0.09 |
0.30 |
|
Including |
272.45 |
273.45 |
1.00 |
0.47 |
8.64 |
153 |
2.13 |
14.11 |
|
Including |
273.45 |
274.45 |
1.00 |
0.47 |
143.80 |
373 |
2.45 |
152.66 |
|
Including |
274.45 |
275.45 |
1.00 |
0.47 |
43.12 |
68 |
0.66 |
45.08 |
|
Including |
275.45 |
276.4 |
0.95 |
0.45 |
3507.00 |
710 |
1.12 |
3518.10 |
|
Including |
276.4 |
277.4 |
1.00 |
0.47 |
0.32 |
5 |
0.07 |
0.50 |
|
Including |
277.4 |
278.4 |
1.00 |
0.47 |
147.20 |
36 |
0.38 |
148.29 |
|
KMDD0147A |
280.4 |
281.4 |
1.00 |
0.47 |
4.38 |
2 |
0.01 |
4.42 |
|
EKDD0007A |
421.66 |
425.7 |
4.04 |
2.59 |
17.09 |
15 |
1.22 |
19.15 |
K1 |
Including |
421.66 |
422.1 |
0.44 |
0.28 |
0.92 |
1 |
0.34 |
1.46 |
|
Including |
422.1 |
423.2 |
1.10 |
0.70 |
18.12 |
21 |
2.69 |
22.50 |
|
Including |
423.2 |
423.5 |
0.30 |
0.19 |
2.61 |
5 |
0.59 |
3.58 |
|
Including |
423.5 |
425 |
1.50 |
0.96 |
30.60 |
24 |
0.97 |
32.39 |
|
Including |
425 |
425.7 |
0.70 |
0.45 |
2.89 |
2 |
0.26 |
3.31 |
|
EKDD0007A |
443 |
445.72 |
2.72 |
1.74 |
0.17 |
3 |
0.55 |
1.05 |
K2 |
Including |
443 |
444.24 |
1.24 |
0.79 |
0.09 |
1 |
0.15 |
0.34 |
|
Including |
444.24 |
444.54 |
0.30 |
0.19 |
0.51 |
6 |
0.98 |
2.08 |
|
Including |
444.54 |
445.3 |
0.76 |
0.49 |
0.23 |
6 |
1.21 |
2.15 |
|
Including |
445.3 |
445.72 |
0.42 |
0.27 |
0.07 |
1 |
0.24 |
0.45 |
|
EKDD0008 |
326.6 |
334 |
7.40 |
2.37 |
1.69 |
7 |
0.55 |
2.62 |
K1 |
Including |
326.6 |
327.67 |
1.07 |
0.34 |
1.85 |
13 |
1.24 |
3.90 |
|
Including |
327.67 |
328.86 |
1.19 |
0.38 |
0.51 |
4 |
0.35 |
1.10 |
|
Including |
328.86 |
329.27 |
0.41 |
0.13 |
0.12 |
1 |
0.07 |
0.25 |
|
Including |
329.27 |
330.25 |
0.98 |
0.31 |
0.20 |
2 |
0.07 |
0.34 |
|
Including |
330.25 |
331.55 |
1.30 |
0.42 |
3.18 |
13 |
0.80 |
4.57 |
|
Including |
331.55 |
331.75 |
0.20 |
0.06 |
0.85 |
10 |
0.88 |
2.32 |
|
Including |
331.75 |
332.2 |
0.45 |
0.14 |
1.06 |
6 |
0.31 |
1.61 |
|
Including |
332.2 |
332.9 |
0.70 |
0.22 |
5.42 |
5 |
0.36 |
6.04 |
|
Including |
332.9 |
334 |
1.10 |
0.35 |
1.02 |
4 |
0.54 |
1.89 |
|
EKDD0008 |
348.5 |
367.95 |
19.45 |
6.22 |
1.19 |
5 |
0.80 |
2.47 |
KL |
Including |
348.5 |
348.8 |
0.30 |
0.10 |
0.92 |
5 |
0.53 |
1.80 |
|
Including |
348.8 |
349 |
0.20 |
0.06 |
1.20 |
3 |
0.44 |
1.91 |
|
Including |
349 |
350 |
1.00 |
0.32 |
0.96 |
4 |
0.62 |
1.95 |
|
Including |
350 |
350.61 |
0.61 |
0.20 |
1.67 |
11 |
1.12 |
3.52 |
|
Including |
350.61 |
350.85 |
0.24 |
0.08 |
2.35 |
8 |
0.86 |
3.76 |
|
Including |
350.85 |
352.2 |
1.35 |
0.43 |
3.03 |
26 |
5.96 |
12.48 |
|
Including |
352.2 |
353.8 |
1.60 |
0.51 |
1.00 |
8 |
0.94 |
2.53 |
|
Including |
353.8 |
355 |
1.20 |
0.38 |
0.54 |
4 |
0.72 |
1.70 |
|
Including |
355 |
355.7 |
0.70 |
0.22 |
0.41 |
1 |
0.44 |
1.09 |
|
Including |
355.7 |
357 |
1.30 |
0.42 |
0.34 |
3 |
0.35 |
0.92 |
|
Including |
357 |
357.6 |
0.60 |
0.19 |
1.22 |
9 |
1.38 |
3.45 |
|
Including |
357.6 |
358.45 |
0.85 |
0.27 |
6.97 |
5 |
0.35 |
7.57 |
|
Including |
358.45 |
358.8 |
0.35 |
0.11 |
5.60 |
8 |
0.86 |
7.02 |
|
Including |
358.8 |
360 |
1.20 |
0.38 |
0.27 |
1 |
0.12 |
0.47 |
|
Including |
360 |
361 |
1.00 |
0.32 |
0.26 |
1 |
0.08 |
0.40 |
|
Including |
361 |
362.2 |
1.20 |
0.38 |
0.39 |
1 |
0.05 |
0.47 |
|
Including |
362.2 |
362.55 |
0.35 |
0.11 |
0.59 |
2 |
0.13 |
0.82 |
|
Including |
362.55 |
364.47 |
1.92 |
0.61 |
0.38 |
1 |
0.05 |
0.47 |
|
Including |
364.47 |
365.2 |
0.73 |
0.23 |
1.57 |
4 |
0.44 |
2.29 |
|
Including |
365.2 |
365.42 |
0.22 |
0.07 |
0.48 |
1 |
0.08 |
0.61 |
|
Including |
365.42 |
365.8 |
0.38 |
0.12 |
0.56 |
1 |
0.04 |
0.64 |
|
Including |
365.8 |
366.6 |
0.80 |
0.26 |
0.28 |
3 |
0.16 |
0.56 |
|
Including |
366.6 |
366.9 |
0.30 |
0.10 |
0.46 |
2 |
0.51 |
1.27 |
|
Including |
366.9 |
367.2 |
0.30 |
0.10 |
0.31 |
3 |
0.15 |
0.58 |
|
Including |
367.2 |
367.95 |
0.75 |
0.24 |
0.58 |
1 |
0.01 |
0.60 |
|
EKDD0008 |
438.53 |
454.75 |
6.22 |
2.58 |
3.82 |
25 |
0.25 |
4.50 |
K2 |
Including |
438.53 |
438.9 |
0.37 |
0.15 |
3.05 |
1 |
0.03 |
3.11 |
|
Including |
438.9 |
439.23 |
0.33 |
0.14 |
3.35 |
1 |
0.14 |
3.58 |
|
Including |
439.23 |
439.75 |
0.52 |
0.22 |
0.20 |
1 |
0.00 |
0.22 |
|
Including |
439.75 |
441.1 |
1.35 |
0.56 |
0.65 |
11 |
0.42 |
1.43 |
|
Including |
441.1 |
441.45 |
0.35 |
0.14 |
0.15 |
1 |
0.02 |
0.19 |
|
Including |
441.45 |
442.17 |
0.72 |
0.30 |
0.54 |
31 |
0.08 |
1.06 |
|
Including |
442.17 |
442.37 |
0.20 |
0.08 |
0.88 |
38 |
2.85 |
5.72 |
|
Including |
442.37 |
444.4 |
2.03 |
0.84 |
0.25 |
3 |
0.03 |
0.33 |
|
Including |
444.4 |
444.75 |
0.35 |
0.14 |
55.40 |
287 |
0.60 |
59.97 |
|
KMDD0190 |
182.18 |
188.7 |
6.52 |
5.69 |
4.58 |
9 |
0.37 |
5.25 |
K1 |
including |
182.18 |
182.9 |
0.72 |
0.55 |
1.47 |
1 |
0.06 |
1.58 |
|
including |
182.9 |
183.53 |
0.63 |
0.48 |
0.55 |
2 |
0.08 |
0.69 |
|
including |
183.53 |
184.37 |
0.84 |
0.64 |
7.80 |
2 |
0.09 |
7.96 |
|
including |
184.37 |
184.9 |
0.53 |
0.41 |
1.40 |
2 |
0.02 |
1.46 |
|
including |
184.9 |
186.7 |
1.80 |
1.38 |
0.24 |
4 |
0.16 |
0.54 |
|
including |
186.7 |
187.95 |
1.25 |
0.96 |
10.80 |
9 |
0.04 |
10.97 |
|
including |
187.95 |
188.5 |
0.55 |
0.42 |
1.15 |
5 |
0.19 |
1.50 |
|
including |
188.5 |
188.7 |
0.20 |
0.15 |
39.93 |
108 |
8.14 |
53.75 |
|
including |
188.7 |
189.26 |
0.56 |
0.43 |
1.16 |
8 |
0.14 |
1.47 |
|
including |
189.26 |
189.6 |
0.34 |
0.26 |
6.07 |
36 |
1.25 |
8.45 |
|
KMDD0190 |
255.44 |
258.1 |
2.66 |
2.04 |
0.25 |
4 |
1.04 |
1.90 |
|
including |
255.44 |
257 |
1.56 |
1.20 |
0.19 |
4 |
1.06 |
1.87 |
|
including |
257 |
258.1 |
1.10 |
0.84 |
0.34 |
5 |
1.00 |
1.93 |
|
KMDD0190 |
265 |
268 |
3.00 |
2.22 |
1.05 |
8 |
0.22 |
1.48 |
K2 |
including |
265 |
266.18 |
1.18 |
0.87 |
0.16 |
5 |
0.19 |
0.52 |
|
including |
266.18 |
267.43 |
1.25 |
0.93 |
2.31 |
13 |
0.27 |
2.88 |
|
including |
267.43 |
268 |
0.57 |
0.42 |
0.13 |
2 |
0.16 |
0.39 |
|
EKDD0010 |
274 |
280.7 |
6.70 |
2.91 |
0.41 |
3 |
0.15 |
0.68 |
K1E |
Including |
274 |
274.25 |
0.25 |
0.11 |
1.82 |
15 |
1.90 |
4.92 |
|
Including |
274.25 |
274.62 |
0.37 |
0.16 |
0.14 |
1 |
0.01 |
0.18 |
|
Including |
274.62 |
275.36 |
0.74 |
0.32 |
0.56 |
3 |
0.09 |
0.74 |
|
Including |
275.36 |
276.1 |
0.74 |
0.32 |
0.47 |
2 |
0.03 |
0.54 |
|
Including |
276.1 |
276.43 |
0.33 |
0.14 |
1.02 |
16 |
0.79 |
2.43 |
|
Including |
276.43 |
277.17 |
0.74 |
0.32 |
0.18 |
1 |
0.01 |
0.20 |
|
Including |
277.17 |
278 |
0.83 |
0.36 |
0.37 |
2 |
0.02 |
0.42 |
|
Including |
278 |
279.9 |
1.90 |
0.83 |
0.31 |
1 |
0.03 |
0.36 |
|
Including |
279.9 |
280.7 |
0.80 |
0.35 |
0.15 |
2 |
0.15 |
0.41 |
|
EKDD0010 |
282.45 |
289.76 |
7.31 |
3.18 |
0.31 |
2 |
0.40 |
0.95 |
K1W |
Including |
282.45 |
282.78 |
0.33 |
0.14 |
0.60 |
8 |
0.95 |
2.15 |
|
Including |
282.78 |
282.95 |
0.17 |
0.07 |
0.45 |
4 |
0.84 |
1.79 |
|
Including |
282.95 |
283.86 |
0.91 |
0.40 |
0.15 |
1 |
0.27 |
0.57 |
|
Including |
283.86 |
285 |
1.14 |
0.50 |
0.55 |
1 |
0.05 |
0.64 |
|
Including |
285 |
286.17 |
1.17 |
0.51 |
0.20 |
1 |
0.17 |
0.47 |
|
Including |
286.17 |
286.57 |
0.40 |
0.17 |
0.19 |
1 |
0.53 |
1.02 |
|
Including |
286.57 |
286.81 |
0.24 |
0.10 |
0.35 |
3 |
1.00 |
1.92 |
|
Including |
286.81 |
288 |
1.19 |
0.52 |
0.36 |
1 |
0.02 |
0.40 |
|
Including |
288 |
289 |
1.00 |
0.44 |
0.11 |
1 |
0.04 |
0.19 |
|
Including |
289 |
289.3 |
0.30 |
0.13 |
0.19 |
1 |
0.18 |
0.47 |
|
Including |
289.3 |
289.76 |
0.46 |
0.20 |
0.53 |
7 |
3.08 |
5.33 |
|
EKDD0010 |
292.37 |
311 |
18.63 |
8.25 |
0.27 |
25 |
0.45 |
1.27 |
KL |
Including |
292.37 |
293.2 |
0.83 |
0.37 |
0.11 |
1 |
0.25 |
0.51 |
|
Including |
293.2 |
294.2 |
1.00 |
0.44 |
0.13 |
4 |
1.22 |
2.05 |
|
Including |
294.2 |
294.6 |
0.40 |
0.18 |
0.09 |
2 |
0.23 |
0.47 |
|
Including |
294.6 |
295.15 |
0.55 |
0.24 |
0.12 |
3 |
0.83 |
1.43 |
|
Including |
295.15 |
296 |
0.85 |
0.38 |
0.06 |
1 |
0.05 |
0.15 |
|
Including |
296 |
296.8 |
0.80 |
0.35 |
0.05 |
1 |
0.05 |
0.13 |
|
Including |
296.8 |
297.3 |
0.50 |
0.22 |
0.09 |
1 |
0.02 |
0.14 |
|
Including |
297.3 |
297.55 |
0.25 |
0.11 |
0.42 |
2 |
0.23 |
0.80 |
|
Including |
297.55 |
298.1 |
0.55 |
0.24 |
0.69 |
3 |
0.35 |
1.26 |
|
Including |
298.1 |
299 |
0.90 |
0.40 |
0.30 |
3 |
0.24 |
0.70 |
|
Including |
299 |
299.35 |
0.35 |
0.16 |
0.21 |
1 |
0.23 |
0.58 |
|
Including |
299.35 |
299.8 |
0.45 |
0.20 |
0.07 |
1 |
0.01 |
0.09 |
|
Including |
299.8 |
300.3 |
0.50 |
0.22 |
0.06 |
1 |
0.01 |
0.09 |
|
Including |
300.3 |
300.55 |
0.25 |
0.11 |
0.20 |
2 |
0.09 |
0.37 |
|
Including |
300.55 |
302 |
1.45 |
0.64 |
0.19 |
2 |
0.23 |
0.57 |
|
Including |
302 |
302.6 |
0.60 |
0.27 |
0.11 |
1 |
0.00 |
0.13 |
|
Including |
302.6 |
303.38 |
0.78 |
0.35 |
0.05 |
1 |
0.07 |
0.18 |
|
Including |
303.38 |
303.7 |
0.32 |
0.14 |
0.08 |
1 |
0.02 |
0.12 |
|
Including |
303.7 |
305.2 |
1.50 |
0.66 |
0.11 |
2 |
0.44 |
0.80 |
|
Including |
305.2 |
305.8 |
0.60 |
0.27 |
0.88 |
9 |
0.66 |
2.01 |
|
Including |
305.8 |
306.18 |
0.38 |
0.17 |
0.95 |
17 |
2.65 |
5.22 |
|
Including |
306.18 |
306.76 |
0.58 |
0.26 |
0.60 |
4 |
0.60 |
1.57 |
|
Including |
306.76 |
308 |
1.24 |
0.55 |
0.29 |
3 |
0.30 |
0.79 |
|
Including |
308 |
308.4 |
0.40 |
0.18 |
0.11 |
2 |
0.11 |
0.30 |
|
Including |
308.4 |
310.1 |
1.70 |
0.75 |
0.83 |
13 |
1.26 |
2.92 |
|
Including |
310.1 |
311 |
0.90 |
0.40 |
0.09 |
440 |
0.31 |
6.15 |
|
EKDD0010 |
315 |
322.3 |
7.30 |
3.29 |
3.23 |
12 |
0.61 |
4.31 |
K2 |
Including |
315 |
316.18 |
1.18 |
0.53 |
0.18 |
2 |
0.18 |
0.48 |
|
Including |
316.18 |
316.6 |
0.42 |
0.19 |
2.75 |
17 |
0.21 |
3.28 |
|
Including |
316.6 |
316.8 |
0.20 |
0.09 |
1.87 |
3 |
0.15 |
2.13 |
|
Including |
316.8 |
317.5 |
0.70 |
0.32 |
5.34 |
9 |
1.92 |
8.39 |
|
Including |
317.5 |
317.75 |
0.25 |
0.11 |
1.47 |
6 |
0.85 |
2.85 |
|
Including |
317.75 |
318.12 |
0.37 |
0.17 |
2.37 |
2 |
0.35 |
2.93 |
|
Including |
318.12 |
318.62 |
0.50 |
0.23 |
0.82 |
2 |
0.27 |
1.26 |
|
Including |
318.62 |
319.3 |
0.68 |
0.31 |
8.70 |
37 |
0.32 |
9.65 |
|
Including |
319.3 |
319.8 |
0.50 |
0.23 |
6.61 |
14 |
0.71 |
7.87 |
|
Including |
319.8 |
320.2 |
0.40 |
0.18 |
13.40 |
22 |
0.89 |
15.03 |
|
Including |
320.2 |
321.1 |
0.90 |
0.41 |
1.28 |
14 |
0.24 |
1.82 |
|
Including |
321.1 |
322.3 |
1.20 |
0.54 |
0.61 |
9 |
0.95 |
2.17 |
|
(1) Gold Equivalent uses copper price of
US$2.90/lb; silver price of US$16.5/oz and gold price of
US$1,300/oz
Table 2 - Kainantu Gold Mine – Collar Locations for
Kora Diamond
Drilling
Hole_id |
Collar location |
Collar orientation |
EOH depth(m) |
Lode |
|
Local north |
Local East |
mRL |
Dip |
Localazimuth |
|
|
KMDD0184 |
58900.18 |
29868.82 |
1189.83 |
-31.8 |
220.2 |
177.6 |
Kora North |
KMDD0186 |
58900.06 |
29868.68 |
1192.44 |
34.1 |
221.5 |
177.9 |
Kora North |
KMDD0188 |
58900.12 |
29868.64 |
1193.17 |
44.7 |
223.2 |
201.8 |
Kora North |
KMDD0145 |
59039.63 |
29954.47 |
1194.67 |
-72.9 |
264.2 |
709.3 |
Kora North |
KMDD0147 |
58927.21 |
29934.80 |
1211.29 |
-28.2 |
217.8 |
287.3 |
Kora North |
KMDD0147A |
58927.21 |
29934.80 |
1211.29 |
-28.2 |
217.8 |
355.5 |
Kora North |
KMDD0190 |
59117.67 |
29990.56 |
1185.57 |
-46.4 |
252.6 |
346.8 |
Kora North |
EKDD0007A |
58950.51 |
30077.34 |
1873.26 |
-61.0 |
280.5 |
500.4 |
Kora North |
EKDD0008 |
59201.98 |
29993.87 |
1779.91 |
-71.1 |
264.7 |
480.3 |
Kora North |
EKDD0010 |
59202.36 |
29993.52 |
1779.97 |
-68.2 |
271.4 |
413.9 |
Kora North |
The mineral resource estimate (shown in Table 3
and Table 4) for the Kora, Kora North and Irumafimpa deposits is
based on the technical report prepared in accordance with National
Instrument 43-101 – Standards of Disclosure for Mineral Projects
(“NI 43-101”), and titled, “Independent Technical Report, Mineral
Resources Estimate Update and Preliminary Economic Assessment of
Kora North and Kora Gold Deposits, Kainantu Project, Papua New
Guinea” with an effective date of September 30, 2018 (the
“Technical Report”) prepared by Anthony Woodward BSc (Hons.),
M.Sc., MAIG, Simon Tear BSc (Hons), EurGeol, PGeo IGI, EurGeol,
Christopher Desoe BE (Min)(Hons), FAusIMM, RPEQ, MMICA, Lisa J.
Park, BEng (Chem), GAICD, FAusIMM.
Table 3 - Kora North Mineral Resource
Estimate
Global Mineral Resources Kora North Gold-Copper Mine -
September 2018 |
Category |
Tonnes |
Gold |
Silver |
Copper |
AuEq |
|
Mt |
g/t |
Mozs |
g/t |
Mozs |
% |
Mlbs |
g/t |
Mozs |
Measured |
0.15 |
18.7 |
0.09 |
8.9 |
0.04 |
0.5 |
1.6 |
19.6 |
0.09 |
Indicated |
0.69 |
11.6 |
0.26 |
14.1 |
0.31 |
0.8 |
11.8 |
12.9 |
0.29 |
Total M & I |
0.85 |
12.9 |
0.35 |
13.1 |
0.36 |
0.7 |
13.3 |
14.1 |
0.39 |
Inferred Total |
1.92 |
10.7 |
0.66 |
13.3 |
0.82 |
0.7 |
29.5 |
11.9 |
0.74 |
M in table is
millions.
Key Assumptions and Parameters – Kora
North Deposit
Mineralization comprises two parallel, steeply
west dipping, N-S striking quartz-sulphide vein systems, K1 &
K2, within an encompassing dilatant structural zone hosted by
phyllite. An additional structure, the Kora Link, has also
been defined and provides a possible link between the two main vein
systems.
Underground drilling consists of diamond core
for a range of core sizes depending on length of hole and expected
ground conditions. Sampling is sawn half core under
geological control and generally ranges between 0.5m and 1m.
Underground face sampling is completed for every fired round and is
to industry standard.
QAQC data indicated no significant issues with
the accuracy of the on-site analysis.
Core recovery of the mineral zone was initially
90%, this has improved to >95%. There is no relationship
between core recovery and gold grade.
Geological logging is consistent and is based on
a full set of logging codes covering lithology, alteration and
mineralization.
The geological interpretation of the vein
systems is represented as 3D wireframe solids snapped to a
combination of diamond drillhole data and underground face
sampling. Definition of the wireframes is based on identified
gold mineralisation in drill core nominally at a 0.2g/t Au cut off
in conjunction with geological control/sense and current mining
widths.
Gold equivalent (AuEq) g/t was calculated using
the formula Au g/t +(Cu% x 1.53) + Ag g/t x 0.0127. (No account of
metal recoveries through the plant have been used in calculating
the metal equivalent grade. However, production is currently
achieving 93% metal recovery for both gold and copper and gold is
currently providing 95% and copper 5% of the total revenue of the
mine).
Gold price US$1,300/oz; silver US$16.5/oz;
copper US$2.90/lb.
Table 4 – Irumafimpa and Kora/Eutompi Resource
Estimates
Resource by Deposit and Category |
Deposit |
Resource Category |
Tonnes |
Gold |
Silver |
Copper |
GoldEquivalent |
Mt |
g/t |
Moz |
g/t |
Moz |
% |
Mlb |
g/t |
Moz |
Irumafimpa |
Indicated |
0.56 |
12.8 |
0.23 |
9 |
0.16 |
0.28 |
37 |
13.4 |
0.24 |
Inferred |
0.53 |
10.9 |
0.19 |
9 |
0.16 |
0.27 |
74 |
11.5 |
0.20 |
Kora/Eutompi |
Inferred |
4.36 |
7.3 |
1.02 |
35 |
4.9 |
2.23 |
215 |
11.2 |
1.57 |
Total Indicated |
0.56 |
12.8 |
0.23 |
9 |
0.16 |
0.3 |
4.0 |
13.4 |
0.24 |
Total Inferred |
4.89 |
7.7 |
1.21 |
32 |
5.06 |
2.0 |
288 |
11.2 |
1.76 |
Notes:
- M in table is millions.
- Reported tonnage and grade figures
are rounded from raw estimates to reflect the order of accuracy of
the estimate. Minor variations may occur during the addition of
rounded numbers. Gold equivalents are calculated as AuEq = Au g/t +
Cu%*1.52+ Ag g/t*0.0141.
K92 Mine Geology Manager and Mine Exploration
Manager, Mr. Andrew Kohler, PGeo, a qualified person under the
meaning of NI 43-101, has reviewed and is responsible for the
technical content of this news release.
About K92
K92 Mining Inc. is engaged in the production of
gold, copper and silver from the Kora and Kora North deposits of
the Kainantu Gold Mine in the Eastern Highlands province of Papua
New Guinea, as well as exploration and development of mineral
deposits in the immediate vicinity of the mine. The Company
declared commercial production from Kainantu in February 2018 and
has commenced an expansion of the mine. An updated
Preliminary Economic Assessment on the property was published in
January 2019. K92 is operated by a team of mining company
professionals with extensive international mine-building and
operational experience.
ON BEHALF OF THE COMPANY,
John Lewins, Chief Executive Officer and
Director
For further information, please contact David
Medilek at +1-604-687-7130.
www.k92mining.com
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION
SERVICES PROVIDER (AS THAT TERM IS DEFINED IN POLICIES OF THE TSX
VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR
ACCURACY OF THIS RELEASE.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING
INFORMATION:
This news release includes certain
“forward-looking statements” under applicable Canadian securities
legislation. Forward-looking statements are necessarily based upon
a number of estimates and assumptions that, while considered
reasonable, are subject to known and unknown risks, uncertainties,
and other factors which may cause the actual results and future
events to differ materially from those expressed or implied by such
forward-looking statements. All statements that address future
plans, activities, events, or developments that the Company
believes, expects or anticipates will or may occur are
forward-looking information, including statements regarding the
realization of the preliminary economic analysis for the Kainantu
Gold Mine, expectations of future cash flows, the ongoing plant
expansion, potential expansion of resources and the generation of
further drilling results which may or may not occur.
Forward-looking statements and information contained herein are
based on certain factors and assumptions regarding, among other
things, the market price of the Company’s securities, metal prices,
exchange rates, taxation, the estimation, timing and amount of
future exploration and development, capital and operating costs,
the availability of financing, the receipt of regulatory approvals,
environmental risks, title disputes, failure of plant, equipment or
processes to operate as anticipated, accidents, labour disputes,
claims and limitations on insurance coverage, changes in government
regulations and other risks of the mining industry, changes in
national and local government regulation of mining operations, and
regulations and other matters. There can be no assurance that such
statements will prove to be accurate, as actual results and future
events could differ materially from those anticipated in such
statements. Accordingly, readers should not place undue reliance on
forward-looking statements. The Company disclaims any intention or
obligation to update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise,
except as required by law.
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