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K92 Mining Inc.
Summary
| Project: | Kainantu | |
|---|---|---|
| Deposit: | Kora, Kora North | |
| Location: | Papua New Guinea | |
| Commodities: | Gold-Silver-Copper | |
| Date: | 1/8/2019 | |
| Report Code: | NI43-101 | |
| Report Type: | PEA | |
| Project Stage: | Active Mining & Production | |
| Report details: | 8-1-2019: K92 Mining Inc. announces a PEA report for its Kora, Kora North deposit at the Kainantu project. PEA results incl. post-tax NPV (5%) of US$559M, IRR of 350%. K92 Mining Inc. (TSXV: KNT; OTCQX: KNTNF) (“K92” or “the Company”) is pleased to announ | |
| 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: | K92 Mining Inc. (TSXV: KNT; OTCQX: KNTNF) (“K92” or “the Company”) is pleased to announce the results of the updated Preliminary Economic Assessment (“PEA”) on its Kora and Kora North gold deposits (“Kora”), which together with its Irumafimpa gold deposit (“Irumafimpa”) comprise the Kainantu Gold Project (the “Kainantu Project”) in Papua New Guinea. K92 engaged H and S Consultants Pty Ltd to complete a Mineral Resource Estimate for the Kora North Deposit (Table 1). This resource together with the previously reported Kora Mineral Resource Estimate dated March 2017 (Table 2) provide the resource base for the updated PEA. K92 engaged Mincore Pty Ltd (“Mincore”) to complete a PEA 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 mine material at a rate of 400,000 tonnes per annum (“tpa”), subject to upgrading the crushing and flotation circuits and plant services. The estimated total cost of such expansion and upgrading would be US$3.7 million, including EPC and commissioning with a contingency of 10%. | |
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