Field work in the Blue Lake area of K92 Mining’s EL470 in Papua New Guinea has resulted in identification of a new, highly prospective exploration area. The company has identified gold-silver-copper mineralisation and hydrothermal alteration typical of that encountered in a high sulphidation epithermal system.

In Papua New Guinea, both currently known high sulphidation gold-copper bearing deposits are adjacent to world-class gold-copper porphyries, being Nena to Freida Horse-Ivaal at the PanAust Frieda River Project and Wafi to Golpu at the Morobe Mining Joint Venture between Newcrest and Harmony.

During field work at Blue Lake, K92 identified mineralised gold-bearing vuggy silica and gold-silver-copper mineralised breccias hosted in a heavily fractured dacite/rhyodacite, presumably a dome, and manifested within a network of intersecting NW (arc parallel), transfer (NNE) and trans-tensional N-S structures.

Gold, silver and copper results from rock chip sampling have returned values up to 20.04 g/t gold, 228.8 g/t silver and 15.6% copper, respectively.

Localised diorite in outcrop, showing high-level cupola textures, is pervasive dickite-pyrite altered, with stockwork quartz-pyrite±chalcopyrite veins. A prominent airborne EM geophysical anomaly, adjacent to the mineralised dickite-altered diorite, is also coincident with a high gold in soils.

Mineral zonation, from an inner vuggy silica core, surrounded by kaolinite and grading to chlorite±epidote is evident. A major silica-alunite lithocap is marginal to the epithermal mineralisation and occupies the highest relief of the intense alteration observed throughout the Blue Lake Prospect intrusive complex.

K92 CEO John Lewins said, “While much focus at K92 has been on the ramp-up of production and following up on the resource expansion potential in the Kora extension discovery area within ML150, this news is a reminder of the very important exploration potential within our large land package for both high grade vein systems and porphyry targets.

“The discovery of this new Blue Lake area will be followed up on with fieldwork, concurrent with the ongoing execution of our growth plan within Kora-Irumafimpa.”

www.k92mining.com

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