- Drill
Hole KMDD0167 records bulk intersection of 30.1 m at 22.7 g/t Au, 5 g/t
Ag and 0.54% Cu (23.6 g/t AuEq). The bulk intersection comprises
multiple veins, including:
° K1 of 10.0 m at 17.6 g/t Au, 1 g/t Ag, 0.10% Cu (17.77 g/t AuEq);
° Kora Link of 5.1m at 8.5 g/t Au, 4 g/t Ag, 0.44% Cu (9.24 g/t AuEq);
° K2 of 10.1 m at 45.7g/t Au, 12 g/t Ag, 1.29% Cu (47.8 g/t AuEq). - Drill Hole KMDD0177 records multiple intersections including 14.60 m at 5.96 g/t Au, 35g/t Ag and 3.32 % Cu (11.48 g/t AuEq).
- Drill Hole KMDD0175 records multiple intersections including 8.08 m at 20.01 g/t Au, 13 g/t Ag and 0.87% Cu (21.50 g/t AuEq) plus 8.50 m at 10.83 g/t Au, 52 g/t Ag and 3.81% Cu (17.33 g/t AuEq).
- Drill Hole EKDD0003A records multiple intersections including 8.00 m at 31.74 g/t Au, 7 g/t Ag and 0.52% Cu (32.63 g/t AuEq).
- Drill Hole KMDD0153 records multiple intersections including 3.70 m at 48.57 g/t Au, 177 g/t Ag and 1.31% Cu (52.82 g/t AuEq) and 5.69 m at 6.62 g/t Au, 6 g/t Ag and 0.14% Cu (6.92 g/t AuEq, 2.67 m true width).
- Drill Hole KMDD0198 records multiple intersections including 8.74 m at 21.58 g/t Au, 3 g/t Ag and 0.74% Cu (22.74 g/t AuEq).
VANCOUVER, British Columbia, Feb. 20, 2020 (GLOBE NEWSWIRE) — 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 25 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, with the vast majority reported outside the boundaries of the October/2018 Resource estimate. The intersections demonstrate the high-grade and continuity of known mineralization beyond the resource along strike to the south, up-dip and down-dip.
Step-out drilling to the south has extended the known mineralized southern extents by ~225m, recording multiple high-grade intersections. KMDD0175, drilled ~150m south of the Oct/2018 resource, recorded 8.08 m at 20.01 g/t Au, 13 g/t Ag and 0.87% Cu (21.50 g/t gold equivalent (“AuEq”), 2.86 m true width) and 8.50 m at 10.83 g/t Au, 52 g/t Ag and 3.81% Cu (17.33 g/t AuEq, 2.63 m true width). Step-outs more proximal to the Oct/2018 resource also recorded high-grade intersections including KMDD0198 recording 8.74 m at 21.58 g/t Au, 3 g/t Ag and 0.74% Cu (22.74 g/t AuEq, 6.80 m true width). Our most southern hole to date KMDD0177, ~225m south of the Oct/2018 resource, recorded 14.60 m at 5.96 g/t Au, 35g/t Ag and 3.32% Cu (11.48 g/t AuEq, 6.12 m true width) and importantly, intersected massive bornite mineralization (See Figure 4). The bornite mineralization is indicative of potential increasing proximity to one or multiple heat sources (to the south and/or to depth).
These drill results also continue to demonstrate the potential for high-grade mineralization up-dip and down-dip of the Oct/2018 resource, including a localized improvement in grade from increased drilling density in several areas. KMDD0153, drilled ~75m below the Oct/2018 resource, recorded 5.69 m at 6.62 g/t Au, 6 g/t Ag and 0.14% Cu (6.92 g/t AuEq, 2.67 m true width) and 3.70 m at 48.57 g/t Au, 177 g/t Ag and 1.31% Cu (52.82 g/t AuEq, 1.91 m true width). KMDD0159, ~50-100m below the Oct/2018 resource, recorded 2.73 m at 14.74 g/t Au, 18 g/t Ag and 0.14% Cu (15.18 g/t AuEq, 1.24m true width) and 1.97 m at 6.33 g/t Au, 298 g/t Ag and 3.58% Cu (15.60 g/t AuEq, 1.28m true width). Up-dip of the Oct/2018 resource, surface drill hole EKDD0003A recorded 8.00 m at 31.74 g/t Au, 7 g/t Ag and 0.52% Cu (32.63 g/t AuEq, 4.06 m true width), ~100 m up-dip from the Oct/2018 Resource.
Additionally, the results further demonstrate the potential for bulk mining, with KMDD0167 reporting a bulk intersection of 30.1 m at 22.7 g/t Au, 5 g/t Ag and 0.54% Cu (23.6 g/t AuEq, 29.7m true thickness). The intersection occurred where the Kora Link vein connects the K1 and K2 veins and highlights the potential for larger scale transverse long hole open stopes at Kainantu. Total drill metres after the Oct/2018 resource has increased +240%, which has enhanced K92’s understanding of Kora Link structures, including showing more structural continuity, particularly persistency vertically, than previously known.
Long sections of K1 and K2 showing the location of the latest drill holes are provided in Figures 1 and 2 respectively. Long section showing Kora North drilling to date is provided in Figure 3.
(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, continuity and the strong extensional potential of Kora North. Step-out drilling to the south has extended known Kora North mineralization by over 200 metres below the known Kora resource, with multiple high-grade intersections recorded. One of the most recent holes drilled, KMDD0177, intersected massive bornite mineralization which may be significant in providing a vector towards the potential heat source. Drilling up-dip and down-dip has also been very encouraging with multiple high-grade intersections recorded and increasing drill density.
Since the October 2018 Resource, Kora North drill metres have increased by +240%, which has provided an enhancement to our understanding of the system, including the Kora Link structures. These structures are emerging as being more continuous than previously known, are vertically persistent, and represent a potential opportunity for high productivity, transverse long hole open stoping.
While we are now in the process of updating the Kora North resource to incorporate all of the results reported to date, we continue our drilling program with five diamond drill rigs active on the mining lease. These will shortly be supplemented by three new diamond drill rigs due on site in 2Q 2020. The two surface rigs and one underground rig will not only provide an increase to our rate of exploration but also our capacity to test new targets, some of which we expect to drill in the near term.”
