Asia-Pacific-focused Kainantu Resources has provided an update on its exploration campaign at the KRL North site, which is adjacent to K92 Mining’s Kainantu gold mine, in Papua New Guinea.
The company’s 2022 field work supports the potential that elements of the Maniape and Arakompa mineralized vein systems’ structural trend extend into the southwest sector of KRL North. This is further supported by the relative increase in frequency of quartz veining mapped within that area.
While non-JORC compliant, Kainantu said historic data from drilling by a former miner in the 1980s and 1990s reported to indicate a resource of 560,000 ounces of Au at 2.2 g/t at Maniape; and 798,000 oz. Au at 9.0 g/t at Arakompa.
“Work through 2022 has added to the company view of KRL North as a high-quality asset in our portfolio, which will be the focus of a targeted drilling program during 2023,” said Matthew Salthouse, Kainantu Resources CEO.
The miner said preliminary drill plans and sections have been proposed for certain prospects within KRL North, based predominantly on geophysical modelling profiles. It intends to have a mid-range DDH rig capable of 600-metre NQ employed with excavator and possible helicopter support for the more inaccessible drill pads.
In addition to the KRL North project, Kainantu Resources owns the KRL South and May River gold-copper projects. All three assets are located in premier mining regions in Papua New Guinea.
Source: Kainantu Resources