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K92 Mining Inc.
Summary
| Project: | Kainantu | |
|---|---|---|
| Deposit: | Kora | |
| Location: | Papua New Guinea | |
| Commodities: | Gold-Silver-Copper | |
| Date: | 5/6/2019 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Active Mining & Production | |
| Report details: | 6-5-2019: K92 Mining Inc. announces an Exploration/Drilling Update report for its Kora deposit at the Kainantu project. Drilling results incl. 2.05m @ 363.91g/t Au, 17g/t Ag, 0.08% Cu from 68.80m. Vancouver, BC, May 6, 2019 - K92 Mining Inc. (“K92” or the | |
| Resources: | (Resource, M+I): 0.85Mt @ 12.9g/t Au, 13.1g/t Ag, 0.7% Cu at Kora North | |
| CP/QP: | [Overall Report]: Andrew Kohler (Internal) | |
| ABSTRACT: | Vancouver, BC, May 6, 2019 - K92 Mining Inc. (“K92” or the “Company”) (TSX-V: KNT; OTCQX: KNTNF) is pleased to announce results from the continuing diamond drilling of the Kora North Extension of the Kainantu gold mine in Papua New Guinea. The results for the latest 8 diamond drill holes completed from diamond drill cuddy 3 and the new drill cuddy 5 (DDC3 and DDC5) into the Kora North deposit are summarized in Table 1 below. Hole KMDD0115 was abandoned, having recorded a complete intersection of 8.30 metres of K1 at 2.2 g/t Au, 46 g/t Ag and 1.07% Cu (4.42 g/t AuEq) over 100 metres below the known K1 resource. A daughter hole, KMDD0115A was wedged off this hole and recorded an intersection of 7.20 m at 2.57 g/t Au, 27 g/t Ag and 0.40% Cu (3.51 g/t AuEq) over 300 metres vertically below the current operating level, extending the known depth extent of the K2 Lode 200 metres below the current resource. The results continue to delineate and extend both the K1, K2 lodes as well as the KL structure between the lodes. Long sections showing all holes drilled to date in both K1 and K2 are provided below. Table 2 provides details of collar location and hole orientation. John Lewins, K92 Chief Executive Officer and Director, stated, “These latest results have not only continued to confirm the remarkable continuity of the high-grade K1 and K2 vein systems within 2 the Kora deposit, but through hole KMDD0115/115A extended the known depth of the K1 Lode by over 100 metres and the K2 Lode by 200 metres. This obviously has major positive implications for the current drilling program which is targeting an expansion of the Kora/Kora North Resource. Given these results, in order to allow the underground rigs to focus more on the potential depth extensions of the Kora/Kora North deposit, we have taken the decision to mobilize a surface diamond drill rig to drill out the area above the current Kora North resource. While it had been originally planned to drill this area exclusively from underground, it can be efficiently drilled from surface with similar length holes. We are currently preparing surface drill pads and expect to mobilize the surface rig within the next few weeks. The addition of the surface rig will increase the number of diamond rigs drilling at Kora/Kora North to four. | |
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