Intersects 9.80m at 84.92 g/t AuEq In PNG
K92 Mining Inc. (TSXV:KNT) has intersected bonanza grades in its ongoing diamond drilling of the Kora deposit at the Kainantu gold mine in Papua New Guinea.
The results for the latest 28 diamond drill holes completed from underground into the Kora deposit continue to demonstrate the high-grade and continuity of Kora with intersections largely focused on increasing drill density to upgrade resources for the Stage 3 Expansion Feasibility Study in addition to some step-out drilling. All drill holes intersected mineralisation.
CEO John Lewins said the drilling results are highlighted by hole KMDD0261 which recorded multiple high-grade intersections including 9.80 m at 83.27 g/t Au, 10 g/t Ag and 1.03% Cu (84.92 g/t AuEq, 6.63 m true width) at the K1 Vein.
KMDD0261 extended a known high-grade area approximately 50 metres up-dip. The high-grade extension was also supported by proximal hole KMDD0259, located 25 metres south and 25 metres deeper, recording multiple intersections including 13.20 m at 24.66 g/t Au, 7 g/t Ag and 0.30% Cu (25.20 g/t AuEq, 9.52 m true width) at the K1 Vein.
Drilling to the south continued to intersect significant mineralization, highlighted by KMDD0229 recording multiple intersections including 1.67 m at 29.76 g/t Au, 8 g/t Ag and 0.87% Cu (31.15 g/t AuEq, 1.11 m true width) at the K1 Vein. KMDD0229 was drilled from the most southerly drill cuddy. On the K2 Vein, southerly drilling at KMDD0255 recorded multiple intersections including 10.40 m at 7.41 g/t Au, 37 g/t Ag and 2.97% Cu (12.26 g/t AuEq, 7.99 m true width).
The drill results once again intersected potentially bulk mineable zones from holes KMDD0257 and KMDD0247. KMDD0257 recorded multiple intersections including 26.34 m at 7.82 g/t Au, 4 g/t Ag and 0.16% Cu (8.11 g/t AuEq, 14.21 m true width) when combining the K1, Kora Link and K2 Veins. KMDD0247 recorded a bulk intersection of 12.60 m at 2.53 g/t Au, 35 g/t Ag and 3.01% Cu (7.42 g/t AuEq, 10.17 m true width) when combining the K1, Kora Link and K2 Veins. Opportunities for higher productivity, bulk mineable areas continue to be assessed for the Stage 3 Expansion Definitive Feasibility Study.
Other high-grade intersection highlights were: KMDD0262 and KMDD0233. KMDD0262, recorded multiple intersections, including 3.80 m at 31.34 g/t Au, 83 g/t Ag and 2.63% Cu (36.23 g/t AuEq, 2.62 m true width) at the K1 Vein. KMDD0233 recorded multiple intersections including 7.41 m at 21.46 g/t Au, 7 g/t Ag and 0.23% Cu (21.88 g/t AuEq, 7.25 m true width) at the K1 Vein.
“The recent drilling results at Kora continue to demonstrate the high-grade pedigree and continuity of the vein system. All 28 holes intersected mineralisation, with 18 intersections exceeding +10 g/t AuEq and 29 intersections exceeding +5g/t AuEq,” Mr Lewins said.
“The drill results are highlighted by hole KMDD0261, extending a known high-grade area approximately 50 metres up-dip along the K1 Vein, recording an intersection of 9.80 m at 83.27 g/t Au, 10 g/t Ag and 1.03% Cu (84.92 g/t AuEq, 6.63 m true width).
“Importantly, this high-grade up-dip extension was supported by proximal hole KMDD0259 reporting 13.20 m at 24.66 g/t Au, 7 g/t Ag and 0.30% Cu (25.20 g/t AuEq, 9.52 m true width) on the K1 Vein.
“Drilling to the south continues to remain very encouraging with hole KMDD0229 recording 1.67 m at 29.76 g/t Au, 8 g/t Ag and 0.87% Cu (31.15 g/t AuEq, 1.11 m true width) at the K1 Vein from our most southerly cuddy. We are also on the cusp of completing our first drill cuddy at Kora South, which is beyond the southern boundary of the mining lease and targeting drilling before year-end.
“Lastly, we are pleased to announce the arrival of our tenth drill rig on site. Over the last twelve months, our drill rig fleet has doubled. We intend to continue to add drill rigs through 2021, with our eleventh drill rig scheduled to arrive in Q1. Drilling is underway at Kora, Karempe and Judd epithermal vein systems and the Blue Lake porphyry.”