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K92 Mining Inc.
Summary
| Project: | Kainantu | |
|---|---|---|
| Deposit: | Kora, Irumafimpa | |
| Location: | Papua New Guinea | |
| Commodities: | Gold-Silver-Copper | |
| Date: | 11/28/2016 | |
| Report Code: | NI43-101 | |
| Report Type: | PEA | |
| Project Stage: | Active Mining & Production | |
| Report details: | 28-11-2016: K92 Mining Inc. announces a PEA report for its Kora, Irumafimpa deposit at the Kainantu project. Kora results incl. pre-tax NPV (5%) of US$415M, Irumafimpa to generate $153m over 8 year mine life. At the request of Mr Brian Lueck, Director of | |
| Resources: | (Resource Ind.): 0.56Mt @ 12.6g/t Au, 9g/t Ag, 2.2% Cu for 0.19Moz AuEq contained at project | |
| CP/QP: | [Overall Report]: Anthony Woodward (Nolidan Mineral Consultants) | |
| ABSTRACT: | At the request of Mr Brian Lueck, Director of Otterburn Resources Corp, (“Otterburn”) now K92 Mining Inc. (“K92”), commissioned Nolidan Mineral Consultants (“Nolidan”) in November 2014 to prepare a Technical Report on the Kainantu project (“the Project”) in accordance with National Instrument 43- 101 – Standards of Disclosure for Mineral Projects (“NI 43-101”) including a mineral resource estimate of the Irumafimpa-Kora gold copper deposit. This report was dated 06 March 2015. It was amended in a report dated 01 May 2015 to include descriptions of the mining and milling infrastructure and recommendations to refurbish the mine and mill at Kainantu. The Technical Report dated 01 May 2015 was further amended to reflect changes to 15 April 2016. In October 2016 Mr John Lewins, Chief Operating Officer of K92, requested Nolidan to update the report dated 15 April 2016 to incorporate the results of recently completed mine scoping studies of the Irumafimpa and Kora gold deposits and plant upgrade studies. Australian Mine Design and Development (“AMDAD”) were initially engaged in 2016 by K92ML to compile a 3 Year Mine Plan for mining of the Irumafimpa deposit. AMDAD were later engaged to undertake a Scoping Study (Preliminary Economic Assessment) for the development of the Kora deposit. In conjunction with the Kora Scoping Study Mincore was engaged to carry out a detailed study on the potential expansion of the existing processing plant to treat 400,000tpa of ore primarily from the Kora deposit. This report summarise the results of the Preliminary Economic Assessments of the Irumafimpa and Kora deposits at Kainantu. The preliminary economic assessments is preliminary in nature, it includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves. There is no certainty that the preliminary economic assessments will be realized. | |
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