K92 Mining has received further high-grade results from exploration drilling of the Kora deposit of the Kainantu Gold Project in Papua New Guinea. The company also continues its development of the Kora Northern Extension.
A hole drilled 50 metres to the south and 60 metres above the current development has recorded significant intersections in both the K1 and K2 lodes. The results include 11.5 metres @ 7.11 g/t gold, 12 g/t silver and 0.32% copper for 7.76 g/t gold equivalent plus 5.95 metres @ 5.23 g/t gold, 19 g/t silver and 1.97% copper for 8.50 g/t gold equivalent.
These results extend the known Kora mineralisation in this Northern Extension over a strike length of approximately 150 metres and a dip extent of approximately 100 metres.
In addition, the company has continued to develop along the strike of the Kora Lode with a 3.5-4 metre x 4 metre drive in a northerly and southerly direction and has now mined over 7000 tonnes of material at an average grade of approximately 6.5 g/t gold and 1% copper. This material is being treated through the process plant on an ongoing basis, producing a copper-gold flotation concentrate.
Following on from the success of the results from this drive and the 25 x 25 metre ‘grade control’ grid pattern, K92 has completed initial mine designs for this area which include access to, and drives along the vein on the 1210 mRL and 1235 mRL. This will enable the first stopes to be mined from this Kora Northern Extension in early 2018.
The company has also continued to develop the footwall drive parallel to the Kora Lode to the south and expects to complete a second drill cuddy by the end of the month, to allow drilling to commence on a second area of 150 metres by 150 metres on 25 x 25 metre ‘grade control’ grid pattern.
K92 CEO and director John Lewins said, “The ongoing results from the development along the Kora Lode and from the diamond drilling program have continued to build our confidence in the quality and continuity of this Northern Extension of Kora.
“We have now mined over 7000 tonnes mined at an average grade of approximately 6.5 g/t gold and 1% copper from this strike drive an average width of approximately 3.5 metres and height of 4 metres over a continuous length of over 120 metres. We plan not only to continue to mine along strike on the current level, but to develop drives along strike on two upper levels, which will also allow stoping to commence in early 2018.”