K92 Mining has commenced mining an initial 2000 tonne bulk sample from the interpreted Kora vein at the Kainantu Gold Project in Papua New Guinea. The company is mining along strike in a northerly and southerly direction from the crosscut.
By Wednesday approximately 1000 tonnes had been mined from this area and K92 is targeting a total of 2000 tonnes mined by the end of this week.
The bulk sample is being mined from a 4x4 metre horizontal development designed to reflect the production stoping width envisaged in the preliminary economic assessment.
It is anticipated that this material will be treated through the process plant next week generating important information on metallurgical performance and providing a bulk concentrate for evaluation by potential offtakers.
K92 previously announced that it has intersected what it interprets as the Kora vein system in a crosscut from the modified Kora exploration drive. The intersection was predicted at this location and comprises a strongly sulphide mineralised quartz vein approximately 2.7 metres wide.
Channel sampling of the north and south faces of the vein system exposed in the crosscut returned an average of 9.89 g/t gold, 46 g/t silver and 2.44% copper over a true width of 2.7 metres. The vein is typical of that seen in Kora drill intercepts and outcrop in displaying multiphase brecciation and layered, bladed quartz as a matrix to clasts.
The cross cut intersection is approximately 10 to 15 metres along strike and to the north of the hole which recorded an intersection of 5.4 metres at 11.68 g/t gold, 25.5 g/t silver and 1.33% copper from 154 metres downhole, interpreted to be the discovery of an extension of the Kora deposit.
The intersection is approximately 500 metres along strike and 150 metres down dip from the closest point of the currently defined Kora deposit inferred resource and is typical of the Kora/Eutompi mineralisation.
The current Kora/Eutompi inferred resource, as defined by previous drilling, is 4.36 million tonnes at a grade of 7.3 g/t gold, 35 g/t silver and 2.23% copper, or 11.2 g/t gold equivalent, and is open for expansion at depth and in both directions along strike.