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K92 Mining Inc.
Summary
| Project: | Kainantu | |
|---|---|---|
| Deposit: | Blue Lake | |
| Location: | Papua New Guinea | |
| Commodities: | Gold-Silver-Copper | |
| Date: | 3/27/2019 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Active Mining & Production | |
| Report details: | 27-3-2019: K92 Mining Inc. announces an Exploration/Drilling Update report for its Blue Lake deposit at the Kainantu project. Drilling results incl. 174.6m @ 0.28g/t Au, 2g/t Ag, 0.22% Cu from 259.3m. Vancouver, B.C. March 27, 2019 - K92 Mining Inc. (“K92 | |
| Resources: | (Resource, M+I): 0.85Mt @ 12.9g/t Au, 13.1g/t Ag, 0.7% Cu at Kora North | |
| CP/QP: | [Overall Report]: Chris Muller (Internal) | |
| ABSTRACT: | Vancouver, B.C. March 27, 2019 - K92 Mining Inc. (“K92” or the “Company”) (TSXV: KNT; OTCQB: KNTNF) is pleased to provide an update on exploration at the Blue Lake Porphyry Prospect located approximately 4 kms southwest of the Company’s Kora deposit at the Kainantu gold mine in Papua New Guinea (see Figure 1). Drilling recently commenced, with the first hole, KTDD0001 intersecting a mineralized silica cap, followed by a broad zone of intense argillic alteration (pyrophyllite/kaolinite), before drilling strong propylitic alteration in diorite, predominantly chlorite, with epidote increasing towards the end of the hole. Significantly, the hole intersected 175 metres @ 0.28 g/t Au and 0.22 % Cu from 259 metres to the end of the hole at 433.9 metres (see Tables 1 & 2 below). The hole was still in mineralization when completed (see Figures 2 & 3). The Blue Lake Project was discovered in early 2017 by the K92 exploration team following a systematic surface mapping and sampling program over the western portion of EL470. Strongly mineralized silicified breccias in outcrop were initially encountered by K92 in September 2017, with samples assaying up to 20 g/t Au and 15% Cu. Since the initial discovery, K92 geologists have mapped (lithology, alteration, structure) the prospect area in detail at 1:1,000, identifying a number of mineralized intrusives and breccias. An equidistant soil grid at 50-metre spacing over an area of approximately 2km2 has been completed, with more than 1,000 samples collected, revealing a large coincident gold and copper anomaly. Petrology of rock chip samples taken from outcrop from widely spaced locations from Blue Lake confirmed a high sulphidation overprint of outer potassic alteration/mineralisation, where enargite, tennantite/tetrahedrite, sulphosalt minerals, cubanite, chalcopyrite, bornite, sphalerite, | |
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