Initial results from the ongoing grade control drilling program at K92 Mining’s high grade Kainantu Gold Mine in Papua New Guinea have significantly increased the predicted grade and contained gold ounces in the first two planned production stopes. The mine is in the start-up phase.

Intersections include 102 g/t gold over 1.1 metres and 9.21 g/t over 0.5 metres in one diamond drill hole and 30.19 g/t over 2.5 metres in another.

The average grade has increased from 5.82 g/t in the original AMDAD Stope Model to 9.21 g/t while combined ounces in the two stope designs increase from 1550 to 2390 ounces.

In September 2016, K92 commenced a campaign of close spaced underground diamond drilling as part of a comprehensive grade control strategy.

This grade control drilling is designed to bring a significantly higher degree of confidence to the production planning and scheduling by drilling out all scheduled production areas underground ahead of actual development on a closed space pattern of approximately 15 metres by 15 metres. This compares with resource drilling which has been carried out on a 50 metre by 50 metre or greater pattern.

The results from this drilling are then used to finalise the various stope and ore development designs and provide updated information on projected production from the areas in terms of tonnage, grade and contained ounces.

The stopes are at the lowest point in the underground which K92 have planned to mine and are also at the southern edge of the known resource that has only been drilled on a 100 metre by 100 metre pattern.

K92 CEO and director Ian Stalker said, “These results are very positive, as the stopes are located at the southern extremity of the resource where data is limited and significantly lower grades were expected.

“The results, combined with the results from the recently completed Preliminary Economic Assessment (PEA) on Kora reinforce our belief that this high grade gold system has significant expansion potential.

“The key focus of the technical team on site is the successful ramp-up in our production from the Irumafimpa ore body and these first grade control results certainly indicate we are on track to achieve our targeted design production in the coming quarter.”

www.k92mining.com

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