Has Further Expansion Plans For PNG Mine
K92 Mining Inc. (TSX-V: KNT) has intersected further high-grade groundin its ongoing diamond drilling of the Kora deposit at the Kainantu gold mine in Papua New Guinea.
John Lewins, K92’s CEO, said the results for the latest 37 diamond drill holes continue to demonstrate the high-grade and continuity of Kora with intersections largely focused on increasing drill density towards the South in addition to extending mineralisation to the South at depth. All drill holes intersected mineralization.
The results include KMDD0181, which is one of the deeper holes drilled to date, intersecting multiple veins including 10.40 m at 24.81 g/t Au, 11 g/t Ag and 0.28% Cu (25.36 g/t AuEq, 4.58 m true width) at the K2 Vein and 2.84 m at 5.36 g/t Au, 628 g/t Ag and 8.39% Cu (25.10 g/t AuEq, 1.68 m true width) at the K3 Vein. K3 is a vein that is interpreted to be sub-parallel to K1 and K2, has had limited drilling and was not included in the Kora resource.
The drill results once again intersected a potentially bulk mineable zone. KMDD0189 recorded multiple intersections including 4.26 m at 45.98 g/t Au, 136 g/t Ag and 7.39% Cu (58.58 g/t AuEq, 4.04 m true width) at the K2 Vein. When combining the K1, Kora Link and K2 Veins, KMDD0189 recorded a bulk intersection of 24.0 m at 11.31 g/t Au, 26 g/t Ag and 1.40% Cu (13.71 g/t AuEq, 22.8 m true width).
Towards the South, multiple high-grade intersections were also recorded, including KMDD0222 and KMDD0212. KMDD0222 recorded multiple intersections including 4.70 m at 26.77 g/t Au, 117 g/t Ag and 2.99% Cu (32.57 g/t AuEq, 4.66 m true width) at the K2 Vein and step-out KMDD0212, recorded multiple intersections, including 11.1 m at 10.25 g/t Au, 13 g/t Ag and 0.54% Cu (11.19 g/t AuEq, 7.02 m true width) at the K2 Vein.
Other high-grade intersection highlights were KMDD0226, recording multiple intersections including 8.80 m at 34.31 g/t Au, 6 g/t Ag and 0.17% Cu (34.63 g/t AuEq, 4.99 m true width) at the K1 Vein. The intersection is up-dip from a previously defined high-grade area.
“The results have once again demonstrated the high grade pedigree and continuity of the Kora system, underpinned by multiple high grade intersections including: KMDD0189 recording 4.26 m at 45.98 g/t Au, 136 g/t Ag and 7.39% Cu (58.58 g/t AuEq, 4.04 m true width) and KMDD0226 recording 8.80 m at 34.31 g/t Au, 6 g/t Ag and 0.17% Cu (34.63 g/t AuEq, 4.99 m true width),” Mr Lewins said.
“Importantly, Kora remains open in multiple directions and a major focus for the remainder of 2020 and into 2021 will be to continue to expand Kora’s known mineralized extents. This is in addition to significantly upgrading inferred resources to measured and indicated for the Stage 3 Expansion Feasibility Study.
“We have recently commissioned our most southerly underground drill cuddy, DDC14, which will enable drill testing to the southern end of the mining lease, almost reaching Kora’s southern extension target, Kora South.
“Development will not stop there, and our plan is to have additional drill cuddies to the south of DDC14, able to drill beyond the mining lease, testing this extension target, Kora South within our exploration lease to the south of the mining lease in Q4. “Lastly, we highlight that Kainantu is in the midst of a rapid enhancement to our exploration capabilities, with six rigs currently on site, expanding to nine by the end of this quarter and ten by year end. The enhancement to our exploration capabilities will not only enable us to better achieve our strategic objectives at Kora but further unlock the potential of the district.”