K92 Mining has received further results from the ongoing underground grade control drilling program at its high grade Kainantu Gold Mine in Papua New Guinea, which continues a production ramp-up. Results from 23 diamond drill holes include the highest grade intersection recorded to date at Irumafimpa of 1 metre at 244.09 g/t gold equivalent.

The close spaced underground diamond drilling is part of a comprehensive grade control strategy commenced in September 2016. The most recent results are from an area of the Irumafimpa deposit to be mined in the coming six to nine months.

The drilling is intended to bring a high degree of confidence to the production planning and scheduling.

K92 says the closed space drilling pattern of approximately 15 metres by 15 metres has significantly increased the confidence in this previously sparsely drilled area and has confirmed the continuity of mineralisation within this area.

Best results include 4.1 metres @ 6.01 g/t plus 1 metre @ 4.33 g/t in one hole; 3.2 metres @ 29.6 g/t, including 0.6 metres @ 130.94 in another; 1.4 metres @ 174.78 g/t, including 1 metre @ 244.09 g/t, plus 3.2 metres @ 6.88 g/t; 2.75 metres @ 21.38 g/t, including 1.05 metres @ 51.22 g/t; 4.3 metres @ 27.93 g/t; and 1.3 metres @ 22.22 g/t plus 1.6 metres @ 4.13 g/t. All intersections are gold equivalent.

K92 CEO and director Ian Stalker says, “The latest grade control drilling results continue to provide support for the continuity and high grade nature of the Irumafimpa system. Importantly, with these latest results, we have now drilled out the next six months of our projected production. We will however continue to undertake the grade control drilling program at the current accelerated rate, with a target of having completed the grade control drilling for our entire 2018 production by the end of 2017.”

During the March quarter there were 23,400 tonnes mined at the Kainantu project, primarily from development of the 1205 mRL, 1220 mRL and 1235 mRL, a production rate significantly above the 13,645 tonnes scheduled in the AMDAD Mine Plan. The first stope production is now mined from the remnant stopes.

The process plant treated just under 12,000 tonnes in March and has regularly achieved over 600 tonnes per day, which is above design throughput.

Grade control drilling and sampling for the initial mining area, comprising stopes and development from 1205 mRL to 1265 mRL levels and between 59450 North and 59700 North, defines 38% more tonnes and 13% more ounces than the AMDAD design.

Detailed design work has defined 35,716 tonnes at a grade of 6.53 g/t gold for 25,446 tonnes @ 6.20 g/t in measured resource and 10,260 tonnes @ 7.35 g/t in indicated resource, as remaining to be mined from initial stopes, and 1175 tonnes at 7.52 g/t in indicated resource to be mined from the 1250 mRL level. This work incorporates all results from the grade control drilling and face samples.

As at March 31, surface stockpiles, from mining of development material, contained 9000 tonnes at a grade of 4.54 g/t. This material was classified as a measured resource. Over 270 tonnes of concentrate were trucked to the port of Lae during the quarter with shipments ongoing.


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