K92 Mining Inc. (“
K92” or the
“
Company”) (TSX
: KNT;
OTCQX
: KNTNF) is pleased to announce results from
the first two surface holes at Kora South and Judd South and from
the property-wide airborne geophysics program at the Kainantu gold
mine in Papua New Guinea. This is the first time that drilling at
Kora South and Judd South had been undertaken from surface by
either K92 or prior operators. The results for the latest surface
diamond drill holes completed are summarized in Table 1 below.
Kora South and Judd South Drilling
Results
Step-out drilling at both Kora South and Judd
South delivered strong results with multiple high-grade and solid
thickness intersections in addition to record thickness with the
discovery of dilatant zones at both Judd South and Kora South.
At Judd South, the results are highlighted by
hole KUDD0001, the southernmost step-out hole to date, stepping out
150 metres to the south from the nearest historical surface drill
hole. KUDD0001 recorded multiple intersections including 15.25 m at
15.87 g/t AuEq or 13.23 g/t Au, 15 g/t Ag and 1.53% Cu (9.93 m
estimated thickness) from the J1 Vein and strong grades from the J2
Vein that recorded 2.90 m at 8.52 g/t AuEq or 5.41 g/t Au, 16 g/t
Ag and 1.81% Cu (1.89 m estimated thickness). The hole was
terminated early due to loss of hole from drilling before it could
reach Kora South.
Importantly, KUDD0001 discovered for the first
time a dilatant zone within the Judd / Judd South vein system,
representing the longest intersection to date recorded at Kainantu
at 66.55 m at 5.02 g/t AuEq or 3.65 g/t Au, 9 g/t Ag and 0.78% Cu
(43.26 m estimated thickness). The dilatant zone is punctuated by
higher grades from the J1, J2 and potentially the J3 veins, with
continuous gold and copper mineralization between the various
veins. Geotechnical conditions observed in the core were also
competent and analogous to that of Judd underground.
At Kora South, drill hole KUDD0002, the
southernmost step-out to date along the Kora-Kora South vein
system, stepping out 75 m to the south from the nearest drill hole,
recorded solid thickness and high grades from multiple veins
including 6.20 m at 17.26 g/t AuEq or 1.62 g/t Au, 151 g/t Ag and
8.56% Cu (4.04 m estimated thickness) from K2 Vein; 0.93 m at 36.39
g/t AuEq or 0.06 g/t Au, 93 g/t Ag and 21.88% Cu (0.60 m estimated
thickness) from the K1 Vein; 5.00 m at 7.99 g/t AuEq or 4.67 g/t
Au, 47 g/t Ag and 1.70% Cu (3.25 m estimated thickness) from the K3
Vein. A notable feature of the K1 and K2 vein intersections is the
very high copper grades, with ~1 metre assay composites up to
21.88% Cu over 0.93 m in K1 and up to 20.40% Cu over 1.04 m in K2,
driven by massive copper sulphide veins punctuating the broader
vein intersection. Encouragingly the K3 vein recorded one of its
thickest intersections to date, despite the hole bottoming while
still in K3 mineralization.
Notably, at Kora South, KUDD0002 intersected a
dilatant zone, similar to Judd South, intersecting 35.90 m at 5.98
g/t AuEq or 1.42 g/t Au, 47 g/t Ag and 2.48% Cu (23.34 m estimated
thickness), a record in terms of thickness for the Kora-Kora South
vein system. The dilatant zone is punctuated by higher grades from
the K2 and K3 veins with continuous gold and copper mineralization
between the veins. While early days, these dilatant zones represent
a potential step-change in terms of the tonnage and metal endowment
per vertical metre at Kora South and Judd South. As our drill and
surface sampling programs progress its impact will be better
understood.
Drilling results also intersected a previously
unknown vein, located approximately 75 m to the east of Judd,
recording 3.45 m at 10.36 g/t AuEq or 10.09 g/t Au, 20 g/t Ag and
0.01% Cu (2.24 m estimated thickness). This was the first time
drilling had been conducted this far east of Judd and modifications
to the drill program to test this vein are underway.
Other drill results include KUDD0002 recording
0.9 m at 15.43 g/t AuEq or 14.32 g/t Au, 39 g/t Ag and 0.39% (0.59
m estimated thickness) from J1 Vein; and 1.3 m at 16.63 g/t AuEq or
16.60 g/t Au and 0.01% Cu (0.84 m estimated thickness) from J2
Vein, located approximately 80 m north of KUDD0001.
Advanced Airborne MobileMT Geophysics
Results
In November 2021, for the first time in over 10
years, airborne geophysics over the entire ~860 km2 property was
flown. The program engaged Expert Geophysics Limited (EGL) to
conduct the helicopter-borne MobileMT electromagnetic and magnetic
survey. MobileMT is the latest generation of airborne AFMAG
technologies, designed in 2017 by the inventor of the ZTEM system.
MobileMT measurement frequency range is 25 Hz – 30,000 Hz, while
ZTEM range is 25 Hz – 720 Hz, thus delivering a much greater depth
range of investigation. Electromagnetic and magnetic data was
collected along east-west survey lines, nominally spaced at 200m,
and north-south tie lines nominally spaced at 2,000 m.
The results from the MobileMT geophysics
delivered excellent correlation between known mineral deposits and
conductive bodies. In particular, the results demonstrate a
potential extensive untested strike length to Kora / Kora South and
Judd / Judd South vein systems, beyond the A1 porphyry for several
kilometres to the southeast. The results also show a possible
confluence of the vein systems between Kora / Kora South and Judd /
Judd South with the north-northeast Maniape and Arakompa vein
systems, representing a highly prospective target.
In addition to the vein targets, known
mineralized porphyries were highlighted by geophysics, including
A1, Blue Lake, Tankaunan and Timpa.
Core Photos and Figures
Long sections of Kora South and Judd South,
showing the location of the latest drill holes reported, are
provided in figures 1 and 2, respectively. A cross section of
KUDD0001 and KUDD0002 are shown in figures 3 and 4, respectively. A
core photograph of the K2 Vein from hole KUDD0002 featuring massive
copper sulphide mineralization is shown in figure 5 and closeup
core samples from KUDD0001 and KUDD0002 are shown in figure 6. A
map from the airborne geophysics program proximal to the Kainantu
underground mine is shown in figure 7, and a long section
illustrating the Highly Conductive Zone from geophysics is in
figure 8.
Chris Muller, K92 Vice President Exploration,
stated, “Drilling beyond the boundaries of the Mining Lease on
Exploration Lease EL470 has confirmed our interpretation that the
high-grade Kora and Judd vein systems persist well to the south.
The mineralized Kora and Judd trend, implied by newly acquired
sub-surface conductivity data from geophysics, will be tested with
an expanded drilling campaign during 2022.”
John Lewins, K92 Chief Executive Officer and
Director, added, “While this may be one of the smallest batches of
drill holes we have released, we believe it is one of the most
impactful. Since K92 acquired Kainantu in 2015, there has been a
great belief in the potential to the South, as we get closer to the
A1 porphyry which is interpreted to be the main heat source for the
vein systems.
As Chris Muller highlighted earlier,
mineralization remains intense at both Kora South and Judd South,
with solid thickness and high grades. Judd South has been
highlighted by 15.25 m at 15.87 g/t AuEq in the J1 Vein from
KUDD0001 stepping out ~150 metres to the South from the nearest
historical drill hole, and Kora South has been highlighted by 6.20
m at 17.26 g/t AuEq from K2 Vein and 0.93 m at 36.39 g/t AuEq from
the K1 Vein both from KUDD0002 stepping out ~75 metres to the South
from the nearest drill hole. K1 and K2 also delivered very high
copper grades, both punctuated with ~1-2 metre veins of massive
copper sulphides grading approximately 20% Cu.
The discovery of dilatant zones at both Judd
South and Kora South has significant potential in terms of overall
endowment and throughput potential, recording 66.55 m at 5.02 g/t
AuEq at Judd South and 35.90 m at 5.98 g/t AuEq at Kora South.
While it is still early days, we are very pleased that we made the
decision to significantly oversize the twin incline that is
currently being developed. Based on engineering review,
modifications can be made to the conveying system to handle
throughputs exceeding 5 million tonnes per annum.
The drill results have also highlighted the
potential for multiple productive veins beyond K1, K2 and J1.
Results at J2 and K3 delivered solid grades and thicknesses and
hole KUDD0001 intersected a previously unknown vein approximately
75 m east of Judd South recording 3.45 m at 10.36 g/t AuEq. Prior
K92 and historical drilling had not drilled this far east of Judd /
Judd South and plans are underway to test this potential vein
system.
The results from the advanced geophysics program
has underscored the significant near-mine and regional exploration
potential at Kainantu, including the potential for vein
mineralization continuing for kilometers from Kora South and Judd
South. We strongly believe we are just scratching the surface in
both our vein and porphyry exploration programs.”
Table 1 - Significant Intercepts from Kora South and
Judd South Diamond Drilling
Hole |
From(m) |
To(m) |
Interval(m) |
True Width(m) |
Au g/t |
Ag g/t |
Cu % |
Au Eq.g/t |
Lode |
KUDD0001 |
42.40 |
45.85 |
3.45 |
2.24 |
10.09 |
20 |
0.01 |
10.36 |
Unknown Vein |
including |
42.40 |
43.90 |
1.50 |
0.98 |
12.14 |
23 |
0.01 |
12.44 |
|
including |
43.90 |
44.70 |
0.80 |
0.52 |
0.03 |
12 |
0.01 |
0.19 |
|
including |
44.70 |
45.85 |
1.15 |
0.75 |
14.42 |
21 |
0.02 |
14.71 |
|
KUDD0001 |
202.50 |
205.10 |
2.60 |
1.69 |
3.47 |
15 |
0.92 |
5.13 |
Potentially J3 |
including |
202.50 |
203.10 |
0.60 |
0.39 |
0.36 |
31 |
1.48 |
3.12 |
|
including |
203.10 |
204.55 |
1.45 |
0.94 |
0.19 |
3 |
0.14 |
0.46 |
|
including |
204.55 |
205.10 |
0.55 |
0.36 |
15.50 |
31 |
2.34 |
19.65 |
|
KUDD0001 |
204.55 |
271.10 |
66.55 |
43.26 |
3.65 |
9 |
0.78 |
5.02 |
Judd Dilatant Zone |
including |
204.55 |
205.10 |
0.55 |
0.36 |
15.50 |
31 |
2.34 |
19.65 |
|
including |
205.10 |
207.45 |
2.35 |
1.53 |
0.07 |
3 |
0.06 |
0.21 |
|
including |
207.45 |
209.00 |
1.55 |
1.01 |
0.21 |
32 |
0.01 |
0.63 |
|
including |
209.00 |
210.00 |
1.00 |
0.65 |
0.13 |
2 |
0.01 |
0.17 |
|
including |
210.00 |
210.35 |
0.35 |
0.23 |
0.20 |
7 |
0.96 |
1.83 |
|
including |
210.35 |
211.25 |
0.90 |
0.59 |
0.27 |
2 |
0.05 |
0.38 |
|
including |
211.25 |
211.80 |
0.55 |
0.36 |
0.63 |
14 |
0.69 |
1.91 |
|
including |
211.80 |
212.40 |
0.60 |
0.39 |
0.70 |
5 |
0.28 |
1.21 |
|
including |
212.40 |
212.70 |
0.30 |
0.19 |
0.65 |
4 |
0.02 |
0.73 |
|
including |
212.70 |
213.00 |
0.30 |
0.20 |
1.99 |
20 |
0.53 |
3.08 |
|
including |
213.00 |
213.55 |
0.55 |
0.36 |
0.82 |
1 |
0.01 |
0.84 |
|
including |
213.55 |
213.95 |
0.40 |
0.26 |
0.16 |
2 |
0.02 |
0.22 |
|
including |
213.95 |
216.40 |
2.45 |
1.59 |
0.02 |
2 |
0.04 |
0.11 |
|
including |
216.40 |
217.90 |
1.50 |
0.98 |
0.05 |
1 |
0.01 |
0.07 |
|
including |
217.90 |
219.00 |
1.10 |
0.71 |
0.01 |
3 |
0.19 |
0.34 |
|
including |
219.00 |
219.80 |
0.80 |
0.52 |
0.02 |
8 |
0.61 |
1.10 |
|
including |
219.80 |
220.50 |
0.70 |
0.45 |
0.78 |
26 |
1.04 |
2.78 |
|
including |
220.50 |
221.10 |
0.60 |
0.39 |
0.31 |
12 |
1.32 |
2.59 |
|
including |
221.10 |
221.30 |
0.20 |
0.13 |
0.50 |
3 |
0.04 |
0.60 |
|
including |
221.30 |
221.90 |
0.60 |
0.39 |
0.12 |
8 |
0.63 |
1.23 |
|
including |
221.90 |
223.15 |
1.25 |
0.81 |
0.25 |
3 |
0.18 |
0.58 |
|
including |
223.15 |
224.60 |
1.45 |
0.94 |
3.14 |
29 |
1.18 |
5.40 |
|
including |
224.60 |
225.50 |
0.90 |
0.59 |
0.65 |
4 |
0.22 |
1.05 |
|
including |
225.50 |
225.75 |
0.25 |
0.16 |
2.80 |
17 |
1.06 |
4.72 |
|
including |
225.75 |
226.30 |
0.55 |
0.36 |
0.63 |
6 |
0.33 |
1.23 |
|
including |
226.30 |
226.60 |
0.30 |
0.19 |
0.59 |
15 |
0.12 |
0.97 |
|
including |
226.60 |
227.00 |
0.40 |
0.26 |
0.26 |
6 |
0.31 |
0.84 |
|
including |
227.00 |
227.60 |
0.60 |
0.39 |
0.15 |
5 |
0.33 |
0.74 |
|
including |
227.60 |
228.50 |
0.90 |
0.59 |
9.29 |
22 |
2.09 |
12.92 |
|
including |
228.50 |
229.80 |
1.30 |
0.85 |
4.98 |
7 |
0.53 |
5.92 |
|
including |
229.80 |
230.50 |
0.70 |
0.45 |
1.24 |
26 |
3.81 |
7.69 |
|
including |
230.50 |
232.20 |
1.70 |
1.10 |
0.16 |
4 |
0.28 |
0.65 |
|
including |
232.20 |
233.00 |
0.80 |
0.52 |
0.96 |
5 |
0.38 |
1.64 |
|
including |
233.00 |
234.50 |
1.50 |
0.98 |
0.02 |
2 |
0.04 |
0.11 |
|
including |
234.50 |
234.80 |
0.30 |
0.20 |
0.24 |
10 |
2.12 |
3.77 |
|
including |
234.80 |
236.20 |
1.40 |
0.91 |
0.05 |
2 |
0.07 |
0.19 |
|
including |
236.20 |
237.10 |
0.90 |
0.59 |
0.05 |
2 |
0.22 |
0.43 |
|
including |
237.10 |
238.10 |
1.00 |
0.65 |
0.03 |
3 |
0.53 |
0.91 |
|
including |
238.10 |
239.00 |
0.90 |
0.59 |
0.01 |
2 |
0.30 |
0.52 |
|
including |
239.00 |
239.50 |
0.50 |
0.33 |
0.05 |
2 |
0.44 |
0.78 |
|
including |
239.50 |
240.05 |
0.55 |
0.36 |
0.18 |
2 |
0.22 |
0.55 |
|
including |
240.05 |
240.50 |
0.45 |
0.29 |
0.06 |
5 |
0.69 |
1.23 |
|
including |
240.50 |
240.87 |
0.37 |
0.24 |
0.10 |
3 |
0.58 |
1.07 |
|
including |
240.87 |
241.90 |
1.03 |
0.67 |
0.22 |
4 |
0.90 |
1.72 |
|
including |
241.90 |
242.80 |
0.90 |
0.59 |
0.28 |
3 |
0.41 |
0.98 |
|
including |
242.80 |
243.10 |
0.30 |
0.19 |
0.15 |
2 |
0.41 |
0.84 |
|
including |
243.10 |
243.30 |
0.20 |
0.13 |
0.23 |
16 |
1.26 |
2.45 |
|
including |
243.30 |
244.70 |
1.40 |
0.91 |
0.26 |
3 |
0.22 |
0.65 |
|
including |
244.70 |
245.60 |
0.90 |
0.59 |
0.09 |
4 |
0.35 |
0.70 |
|
including |
245.60 |
247.26 |
1.66 |
1.08 |
0.10 |
6 |
0.62 |
1.16 |
|
including |
247.26 |
248.80 |
1.54 |
1.00 |
0.14 |
4 |
0.39 |
0.82 |
|
including |
248.80 |
250.30 |
1.50 |
0.98 |
0.18 |
3 |
0.11 |
0.40 |
|
including |
250.30 |
251.30 |
1.00 |
0.65 |
0.64 |
11 |
2.58 |
4.92 |
|
including |
251.30 |
252.70 |
1.40 |
0.91 |
1.51 |
17 |
2.46 |
5.68 |
|
including |
252.70 |
253.10 |
0.40 |
0.26 |
0.13 |
3 |
0.33 |
0.70 |
|
including |
253.10 |
254.42 |
1.32 |
0.86 |
0.08 |
3 |
0.28 |
0.57 |
|
including |
254.42 |
255.85 |
1.43 |
0.93 |
0.13 |
4 |
0.91 |
1.64 |
|
including |
255.85 |
256.80 |
0.95 |
0.62 |
0.40 |
55 |
9.36 |
16.13 |
|
including |
256.80 |
258.25 |
1.45 |
0.94 |
0.16 |
3 |
0.38 |
0.80 |
|
including |
258.25 |
259.90 |
1.65 |
1.07 |
0.27 |
11 |
2.83 |
4.96 |
|
including |
259.90 |
261.25 |
1.35 |
0.88 |
4.99 |
16 |
4.19 |
11.92 |
|
including |
261.25 |
262.30 |
1.05 |
0.68 |
1.62 |
16 |
1.32 |
3.95 |
|
including |
262.30 |
263.70 |
1.40 |
0.91 |
3.17 |
26 |
1.22 |
5.45 |
|
including |
263.70 |
264.25 |
0.55 |
0.36 |
156.68 |
46 |
0.15 |
157.50 |
|
including |
264.25 |
265.40 |
1.15 |
0.75 |
64.50 |
35 |
0.15 |
65.18 |
|
including |
265.40 |
265.79 |
0.39 |
0.25 |
0.95 |
2 |
0.03 |
1.03 |
|
including |
265.79 |
267.00 |
1.21 |
0.79 |
0.16 |
1 |
0.02 |
0.21 |
|
including |
267.00 |
268.50 |
1.50 |
0.98 |
0.43 |
2 |
0.05 |
0.53 |
|
including |
268.50 |
269.00 |
0.50 |
0.33 |
0.76 |
2 |
0.06 |
0.88 |
|
including |
269.00 |
269.70 |
0.70 |
0.45 |
16.50 |
2 |
0.04 |
16.58 |
|
including |
269.70 |
271.10 |
1.40 |
0.91 |
10.23 |
1 |
0.02 |
10.27 |
|
KUDD0001 |
227.60 |
230.50 |
2.90 |
1.89 |
5.41 |
16 |
1.81 |
8.52 |
J2 (within Judd Dilatant Zone) |
including |
227.60 |
228.50 |
0.90 |
0.59 |
9.29 |
22 |
2.09 |
12.92 |
|
including |
228.50 |
229.80 |
1.30 |
0.85 |
4.98 |
7 |
0.53 |
5.92 |
|
including |
229.80 |
230.50 |
0.70 |
0.46 |
1.24 |
26 |
3.81 |
7.69 |
|
KUDD0001 |
255.85 |
271.10 |
15.25 |
9.93 |
13.23 |
15 |
1.53 |
15.87 |
J1 (within Judd Dilatant Zone) |
including |
255.85 |
256.80 |
0.95 |
0.62 |
0.40 |
55 |
9.36 |
16.13 |
|
including |
256.80 |
258.25 |
1.45 |
0.94 |
0.16 |
3 |
0.38 |
0.80 |
|
including |
258.25 |
259.90 |
1.65 |
1.07 |
0.27 |
11 |
2.83 |
4.96 |
|
including |
259.90 |
261.25 |
1.35 |
0.88 |
4.99 |
16 |
4.19 |
11.92 |
|
including |
261.25 |
262.30 |
1.05 |
0.68 |
1.62 |
16 |
1.32 |
3.95 |
|
including |
262.30 |
263.70 |
1.40 |
0.91 |
3.17 |
26 |
1.22 |
5.45 |
|
including |
263.70 |
264.25 |
0.55 |
0.36 |
156.68 |
46 |
0.15 |
157.50 |
|
including |
264.25 |
265.40 |
1.15 |
0.75 |
64.50 |
35 |
0.15 |
65.18 |
|
including |
265.40 |
265.79 |
0.39 |
0.25 |
0.95 |
2 |
0.03 |
1.03 |
|
including |
265.79 |
267.00 |
1.21 |
0.79 |
0.16 |
1 |
0.02 |
0.21 |
|
including |
267.00 |
268.50 |
1.50 |
0.98 |
0.43 |
2 |
0.05 |
0.53 |
|
including |
268.50 |
269.00 |
0.50 |
0.33 |
0.76 |
2 |
0.06 |
0.88 |
|
including |
269.00 |
269.70 |
0.70 |
0.46 |
16.50 |
2 |
0.04 |
16.58 |
|
including |
269.70 |
271.10 |
1.40 |
0.91 |
10.23 |
1 |
0.02 |
10.27 |
|
KUDD0002 |
74.00 |
75.30 |
1.30 |
0.84 |
16.60 |
1 |
0.01 |
16.63 |
J2 |
KUDD0002 |
140.20 |
141.10 |
0.90 |
0.59 |
14.32 |
39 |
0.39 |
15.43 |
J1 |
KUDD0002 |
335.83 |
336.76 |
0.93 |
0.60 |
0.06 |
93 |
21.88 |
36.39 |
K1 |
KUDD0002 |
378.10 |
414.00 |
35.90 |
23.34 |
1.42 |
47 |
2.48 |
5.98 |
Kora Dilatant Zone |
including |
378.10 |
379.00 |
0.90 |
0.58 |
0.49 |
6 |
1.74 |
3.36 |
|
including |
379.00 |
379.80 |
0.80 |
0.52 |
1.62 |
10 |
2.85 |
6.33 |
|
including |
379.80 |
380.54 |
0.74 |
0.48 |
0.14 |
8 |
0.78 |
1.50 |
|
including |
380.54 |
381.57 |
1.03 |
0.67 |
0.92 |
83 |
7.33 |
13.74 |
|
including |
381.57 |
382.20 |
0.63 |
0.41 |
0.21 |
17 |
2.44 |
4.34 |
|
including |
382.20 |
383.24 |
1.04 |
0.68 |
2.64 |
650 |
20.49 |
43.70 |
|
including |
383.24 |
384.18 |
0.94 |
0.61 |
4.61 |
153 |
19.28 |
37.51 |
|
including |
384.18 |
384.30 |
0.12 |
0.08 |
0.17 |
9 |
1.21 |
2.23 |
|
including |
384.30 |
386.20 |
1.90 |
1.23 |
0.17 |
5 |
0.39 |
0.86 |
|
including |
386.20 |
387.30 |
1.10 |
0.72 |
0.01 |
1 |
0.02 |
0.06 |
|
including |
387.30 |
389.00 |
1.70 |
1.10 |
0.42 |
1 |
0.02 |
0.46 |
|
including |
389.00 |
390.15 |
1.15 |
0.75 |
0.14 |
2 |
0.03 |
0.21 |
|
including |
390.15 |
390.94 |
0.79 |
0.51 |
0.01 |
1 |
0.00 |
0.03 |
|
including |
390.94 |
392.20 |
1.26 |
0.82 |
0.05 |
1 |
0.01 |
0.08 |
|
including |
392.20 |
393.00 |
0.80 |
0.52 |
0.14 |
1 |
0.01 |
0.16 |
|
including |
393.00 |
393.64 |
0.64 |
0.42 |
0.30 |
8 |
0.93 |
1.90 |
|
including |
393.64 |
394.20 |
0.56 |
0.36 |
0.08 |
5 |
0.09 |
0.29 |
|
including |
394.20 |
395.00 |
0.80 |
0.52 |
0.29 |
4 |
0.15 |
0.58 |
|
including |
395.00 |
396.35 |
1.35 |
0.88 |
0.45 |
7 |
0.22 |
0.89 |
|
including |
396.35 |
397.25 |
0.90 |
0.58 |
0.26 |
4 |
0.22 |
0.66 |
|
including |
397.25 |
398.00 |
0.75 |
0.49 |
5.49 |
34 |
2.22 |
9.48 |
|
including |
398.00 |
399.70 |
1.70 |
1.10 |
0.47 |
2 |
0.12 |
0.69 |
|
including |
399.70 |
401.00 |
1.30 |
0.85 |
1.96 |
31 |
0.16 |
2.60 |
|
including |
401.00 |
402.00 |
1.00 |
0.65 |
0.50 |
7 |
0.29 |
1.05 |
|
including |
402.00 |
403.00 |
1.00 |
0.65 |
0.51 |
4 |
0.06 |
0.66 |
|
including |
403.00 |
403.50 |
0.50 |
0.33 |
1.35 |
10 |
0.13 |
1.68 |
|
including |
403.50 |
405.00 |
1.50 |
0.98 |
3.28 |
4 |
0.17 |
3.61 |
|
including |
405.00 |
406.00 |
1.00 |
0.65 |
0.12 |
2 |
0.02 |
0.17 |
|
including |
406.00 |
407.00 |
1.00 |
0.65 |
0.32 |
3 |
0.05 |
0.43 |
|
including |
407.00 |
408.00 |
1.00 |
0.65 |
0.21 |
2 |
0.03 |
0.28 |
|
including |
408.00 |
409.00 |
1.00 |
0.65 |
0.17 |
2 |
0.08 |
0.32 |
|
including |
409.00 |
410.00 |
1.00 |
0.65 |
3.28 |
71 |
3.23 |
9.36 |
|
including |
410.00 |
411.00 |
1.00 |
0.65 |
1.35 |
30 |
2.41 |
5.60 |
|
including |
411.00 |
412.00 |
1.00 |
0.65 |
0.31 |
28 |
1.45 |
2.99 |
|
including |
412.00 |
413.00 |
1.00 |
0.65 |
0.43 |
25 |
0.86 |
2.12 |
|
including |
413.00 |
414.00 |
1.00 |
0.65 |
17.96 |
33 |
0.57 |
19.29 |
|
KUDD0002 |
378.10 |
384.30 |
6.20 |
4.04 |
1.62 |
151 |
8.56 |
17.26 |
K2 (within Kora Dilatant Zone) |
including |
378.10 |
379.00 |
0.90 |
0.59 |
0.49 |
6 |
1.74 |
3.36 |
|
including |
379.00 |
379.80 |
0.80 |
0.52 |
1.62 |
10 |
2.85 |
6.33 |
|
including |
379.80 |
380.54 |
0.74 |
0.48 |
0.14 |
8 |
0.78 |
1.50 |
|
including |
380.54 |
381.57 |
1.03 |
0.67 |
0.92 |
83 |
7.33 |
13.74 |
|
including |
381.57 |
382.20 |
0.63 |
0.41 |
0.21 |
17 |
2.44 |
4.34 |
|
including |
382.20 |
383.24 |
1.04 |
0.68 |
2.64 |
650 |
20.49 |
43.70 |
|
including |
383.24 |
384.18 |
0.94 |
0.61 |
4.61 |
153 |
19.28 |
37.51 |
|
including |
384.18 |
384.30 |
0.12 |
0.08 |
0.17 |
9 |
1.21 |
2.23 |
|
KUDD0002 |
409.00 |
414.00 |
5.00 |
3.25 |
4.67 |
47 |
1.70 |
7.99 |
K3 (within Kora Dilatant Zone) |
including |
409.00 |
410.00 |
1.00 |
0.65 |
3.28 |
71 |
3.23 |
9.36 |
|
including |
410.00 |
411.00 |
1.00 |
0.65 |
1.35 |
30 |
2.41 |
5.60 |
|
including |
411.00 |
412.00 |
1.00 |
0.65 |
0.31 |
28 |
1.45 |
2.99 |
|
including |
412.00 |
413.00 |
1.00 |
0.65 |
0.43 |
25 |
0.86 |
2.12 |
|
including |
413.00 |
414.00 |
1.00 |
0.65 |
17.96 |
33 |
0.57 |
19.29 |
|
|
|
|
|
|
|
|
|
|
|
Table 2 - Collar Locations for Kora South and Judd South
Diamond Drilling
Hole |
Collar Location |
mRL |
Bearing(Local) |
Bearing(Magnetic) |
Inclination |
Depth (m) |
Easting (Local) |
Northing (Local) |
KUDD0001 |
30075.5 |
58047 |
1836 |
270 |
220 |
-60 |
284.6 |
KUDD0002 |
30010.7 |
58117.2 |
1802 |
280 |
230 |
-60 |
415.5 |
|
|
|
|
|
|
|
|
Drill Hole Sampling Methodology, QA/QC
and Qualified Person
Diamond drill hole is first logged to determine
the sampling intervals, which range from a minimum of 0.1 metres to
generally 1 metre. The drill core is sawn half core cut along a
reference line, with the remainder of the core returned to the core
tray. Core samples are then placed in numbered calico and plastic
bags, with a numbered sample ticket for dispatch to the assay
laboratory. Samples are separately assayed for gold, copper and
silver. K92’s procedure includes the insertion standards, blanks
and duplicates. Gold assays are by the fire assay method. Copper
and silver assays are by three-acid-digestion method (nitric,
perchloric & hydrochloric mix).
K92 maintains an industry-standard analytical
quality assurance and quality control (QA/QC) and data verification
program to monitor laboratory performance and ensure high quality
assays. Results from this program confirm reliability of the assay
results. All sampling and analytical work for the mine exploration
program is performed by Intertek Testing Services (PNG) LTD, an
independent accredited laboratory that is located on site. External
check assays for QA/QC purposes are performed at SGS Australia Pty
Ltd in Townsville, Queensland, Australia.
K92 Vice President Exploration, Mr. Chris
Muller, PGeo, and Andrew Kohler, PGeo, Mine Geology Manager and
Mine Exploration Manager for K92, both Qualified Persons under the
meaning of National Instrument 43-101 – Standards of Disclosure for
Mineral Projects, have reviewed and are responsible for the
technical content of this news release. In addition to the
analytical QA/QC program outlined above, data verification also
includes significant time onsite reviewing drill core, soil and
outcrop sampling, artisanal workings, as well as discussing work
programs and results with geology personnel and external
consultants.
About K92
K92 Mining Inc. is engaged in the production of
gold, copper and silver from the Kora and Judd deposits at 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 is in a
strong financial position.
The Company commenced an expansion of the mine
based on an updated Preliminary Economic Assessment on the property
which was published in January 2019 and updated in July 2020. 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, P.Eng., CFA at +1-604-687-7130.
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
Mine, expectations of future cash flows, the planned plant
expansion, production results, cost of sales, sales of production,
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 and other risks of the mining
industry, changes in national and local government regulation of
mining operations in PNG, mitigation of the Covid-19 pandemic,
continuation of the lifted state of emergency, 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.
Figure 1 – Kora South Surface Drilling Results Long
Sectionhttps://www.globenewswire.com/NewsRoom/AttachmentNg/8992c8d4-e979-480d-8835-72ac940873fc
Figure 2 – Judd South Surface Drilling Results Long
Sectionhttps://www.globenewswire.com/NewsRoom/AttachmentNg/e62ff203-afd6-423d-8013-6b44a3545203
Figure 3 – KUDD0001 Cross
Sectionhttps://www.globenewswire.com/NewsRoom/AttachmentNg/74e826af-36bb-4c52-90e3-380c6c0e430d
Figure 4 – KUDD0002 Cross
Sectionhttps://www.globenewswire.com/NewsRoom/AttachmentNg/118d5a41-47be-495a-9cc3-9f43be7c4b9d
Figure 5 – KUDD0002 Core Photograph,
381.1 – 384.3 m with massive copper sulphide in drill core, within
an overall K2 intersection of 6.20 m at 17.26 g/t AuEq or 1.62 g/t
Au, 151 g/t Ag and 8.56% Cu. The core photograph shown includes
composite grades of 1.04 m at 43.70 g/t AuEq or 2.64 g/t Au, 650
g/t Ag, 20.49% Cu (from 382.2 – 383.24 m) and 0.94 m at 37.51 g/t
AuEq or 4.61 g/t Au, 153 g/t Ag, 19.28% Cu (from 383.24 –
384.18m).https://www.globenewswire.com/NewsRoom/AttachmentNg/c3bf47c3-5d76-4f93-8a20-3622693caa4e
Figure 6 – Kora South and Judd South
drill core; a) KUDD0001, c. 256.0m (J1 Vein), quartz vein breccia
with massive chalcopyrite and lesser bornite; b) KUDD0002, 397.8m,
quartz vein breccia, polymictic clasts with crystalline quartz and
chalcopyrite infill, 5.49 g/t Au, 2.22 % Cu (9.48 g/t AuEq); c)
KUDD0002, 384.1m, massive chalcopyrite amid crypto-crystalline
quartz, 4.61 g/t Au, 19.28 % Cu (37.51 g/t AuEq). Scale bar (images
b, c) =
10mm.https://www.globenewswire.com/NewsRoom/AttachmentNg/795b3b45-86a4-46c6-b56b-f38e311ec05e
Figure 7 – Geophysics Plan Map Including Mining Lease
and Proximal Exploration
Leaseshttps://www.globenewswire.com/NewsRoom/AttachmentNg/6c79cbfd-7441-4b4c-afe5-6e0d44a0fa59
Figure 8 – Geophysics Long Section Along High
Conductivity
Zonehttps://www.globenewswire.com/NewsRoom/AttachmentNg/47e415e9-4d33-4f41-866f-6c7217e102c3
K92 Mining (TSX:KNT)
Gráfico Histórico do Ativo
De Fev 2024 até Mar 2024
K92 Mining (TSX:KNT)
Gráfico Histórico do Ativo
De Mar 2023 até Mar 2024