Encounters High-Grade Epithermal Vein Mineralisation
K92 Mining Inc. (TSXV:KNT) has received positive news from the first six drill holes completed on the Karempe Vein System at the Kainantu gold mine in Papua New Guinea.
The Karempe Vein System is located near-mine infrastructure, subparallel to and ~450m West from the producing Kora deposit.
To date, five known veins have been recorded at Karempe, with similar vein orientation and intrusive related Au-Cu-Ag mineralszation as Kora. The veins are essentially quartz and massive pyrite, and more localized chalcopyrite hosted within competent diorite. The veins remain open to depth and only a fraction of the over 2,000m strike length, documented by mapping and rock chip sampling, has been drill tested.
A total of six diamond drill holes were reported at Karempe, with intersections recorded in multiple veins.
The results are highlighted by the KA1 Vein with hole KRDD0005 recording 2.45 m at 39.82 g/t Au, 6 g/t Ag and 0.19% Cu (40.18 g/t AuEq, 2.30 m true width), including 0.75 m at 125.40 g/t Au, 12 g/t Ag, 0.13% Cu (125.75 g/t AuEq, 0.68 m true width).
Approximately 100m down-dip from KRDD0005, along the KA1 Vein, hole KRDD0006 recorded 3.20 m at 17.50 g/t Au, 20 g/t Ag and 0.34% Cu (18.28 g/t AuEq, 2.45 m true width), including 1.60 m at 26.58 g/t Au, 38 g/t Ag, 0.66% Cu (28.07 g/t AuEq, 1.19 m true width).
Both holes recorded mineralisation that is invariably associated with massive sulphide (pyrite-chalcopyrite) and crystalline quartz, encapsulated within broad zones of strong sericite alteration.
Drilling also recorded significant mineralisation along the KA2 Vein, highlighted by KRDD0002 recording 1.60 m at 8.61 g/t Au, 3 g/t Ag and 0.06% Cu (8.74 g/t AuEq, 1.31 m true width). T
he KRDD0002 intersection was reported ~100m to the south along strike from KRDD0005. There are currently two drill rigs at Karempe and through the remainder the year, drilling plans to target both down-dip and strike extensions.
Chris Muller, K92’s Vice President Exploration, said the maiden drill programme at Karempe has unveiled an impressive vein system comprising multiple, continuous gold mineralized structures that resemble Kora mineralisation.
“Karempe has approximately 2km of strike length, as demonstrated by surface mapping, and limited drill testing,” Mr Muller said.
“Together with Kora and Judd, epithermal veins comprising, and proximal to, the Kainantu Gold Mine represent a significant gold/copper mineralized vein field.”
CEO John Lewins, said that with only approximately 20% of the mapped vein field strike length tested and the areas already tested being largely open at depth, the results at Karempe highlight the strong exploration potential at Kainantu.
“By the end of this year, we plan to have 10 drill rigs on site; 5 underground drill rigs and 5 surface drill rigs, drilling the Karempe, Kora, Kora South and Judd vein systems plus the Blue Lake porphyry concurrently. We expect to increase the number of drill rigs in 2021,” Mr Lewins said.