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K92 Mining Inc.
Summary
| Project: | Kainantu | |
|---|---|---|
| Deposit: | Kora | |
| Location: | Papua New Guinea | |
| Commodities: | Gold-Silver-Copper | |
| Date: | 10/13/2016 | |
| Report Code: | NI43-101 | |
| Report Type: | PEA | |
| Project Stage: | Active Mining & Production | |
| Report details: | 13-10-2016: K92 Mining Inc. announces a PEA report for its Kora deposit at the Kainantu project. Kora deposit PEA results incl. pre-tax NPV (5%) of US$415M, IRR of 113%. K92 Mining Inc. (the “Company” or “K92”, TSXV: KNT, OTC QB: KNTNF) is pleased to anno | |
| Resources: | (Resource Inf.): 1.65Moz @ 11.6g/t AuEq. at Kora | |
| CP/QP: | [Overall Report]: Brian Lueck (Not stated) | |
| ABSTRACT: | K92 Mining Inc. (the “Company” or “K92”, TSXV: KNT, OTC QB: KNTNF) is pleased to announce the results of a Preliminary Economic Assessment (“PEA”) on its Kora gold deposit (“Kora”), which together with its Irumafimpa gold deposit (“Irumafimpa”) comprise the Kainantu Gold Project (the “Kainantu Project”). The PEA process has been undertaken concurrent with the Company’s restart process at Irumafimpa, where production has recently commenced. K92 engaged Mincore Pty Ltd (“Mincore”) to complete a scoping study for the expansion of the existing processing plant to double its capacity to approximately 400,000 tonnes per annum. The study found that the current crushing, milling and concentrate handling circuits have sufficient capacity to treat the Kora ore at a rate of 400,000 tpa, subject to upgrading the flotation circuit and plant services. The estimated total cost of such expansion and upgrading would be US$3.3 million, including EPC and commissioning with a contingency of 10%. The Company engaged Australian Mine and Development Pty Ltd (“AMDAD”) to undertake the PEA and a mine plan for Kora. The conceptual mine plan prepared by AMDAD makes use of two proposed exploration inclines to be mined to the south from Irumafimpa. However, the mine plan assumes that these drives are a “sunk” cost. The mine plan does not incorporate proposed Kora exploration drilling that will be undertaken from the Kora exploration inclines or any results from this work. | |
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