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Project: | Kainantu | |
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Deposit: | Kora North | |
Location: | Papua New Guinea | |
Commodities: | Gold-Silver-Copper | |
Date: | 11/13/2018 | |
Report Code: | NI43-101 | |
Report Type: | Resource Estimation | |
Project Stage: | Active Mining & Production | |
Report details: | 13-11-2018: K92 Mining Inc. announces a Resource Estimation report for its Kora North deposit at the Kainantu project. Updated mineral resource estimate at Kora North. 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: | [Resources]: Simon Tear (H&S Consultants Pty Ltd.) | |
ABSTRACT: | K92 Mining Inc. (TSXV: KNT; OTCQX: KNTNF) (“K92” or “the Company”) is pleased to announce that an updated resource estimate has been completed at its Kora North deposit, based on results from underground grade control, exploration diamond drilling and face sampling. The updated resource estimate comprises a Measured Resource of 154,000 tonnes @ 18.7 g/t Au, 8.9 g/t Ag and 0.5% Cu; an Indicated Resource of 690,000 tonnes @ 11.6 g/t Au, 14.1 g/t Ag and 0.8% Cu and an Inferred Resource of 1.92 million tonnes @ 10.7 g/t Au, 13.3 g/t Ag and 0.7% Cu. This represents an increase of over 20% in the contained gold equivalent ozs for the Measured and Indicated Resource and almost 30% for the Inferred Resource. See Table 1 below. This updated resource estimate is based on results from 80 diamond drill holes drilled from Diamond Drill Cuddies 1, 2, 3 and 4 (DDC1, DDC2, DDC3 & DDC4) and over 1,300 face samples taken from horizontal development and from cut and fill faces along the K1 and K2 lodes. The resource estimate covers an area of approximately 400 to 500 metres along strike by 200 to 350 metres vertically (see K1 and K2 long sections below), representing approximately 15% of the target area of 1,000 metres along strike by up to 1,000 metres vertically which the Company plans to drill from underground over the coming 12 months. Mineralization comprises two parallel, steeply west dipping, N-S striking quartz-sulphide vein systems, K1 & K2, within an encompassing dilatant structural zone hosted by phyllite. An additional structure, the Kora Link, has also been defined and provides a possible link between the two main vein systems. Underground drilling consists of diamond core for a range of core sizes depending on length of hole and expected ground conditions. Sampling is sawn half core under geological control and generally ranges between 0.5m and 1m. Underground face sampling is completed for every fired round and is to industry standard. QAQC data indicated no significant issues with the accuracy of the on-site analysis. Core recovery of the mineral zone was initially 90%, this has improved to >95%. There is no relationship between core recovery and gold grade. | |
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