K92 Mining has received positive final results from treating a 2050 tonne bulk sample taken from the interpreted Kora vein at Kainantu Gold-Copper Project in Papua New Guinea. The gold recovery achieved was 91.1% and copper recovery was 92.6%.
A total of 96 tonnes of concentrate at an average grade of 138 g/t gold and 19% copper containing 427 ounces of gold and 18.2 tonnes of copper was produced.
The bulk sample was mined from a 4x4 metre horizontal development designed to reflect the production stoping width envisaged in the preliminary economic assessment (PEA). The average grade of the material treated was 7.11 g/t gold and 0.95% copper which is consistent with that predicted from grade control face sampling underground.
The company believes there is considerable potential to improve metallurgical performance beyond the impressive results achieved in treating this first bulk sample with the installation of a gravity gold circuit and the optimisation of the flotation circuit following detailed review of the performance of the plant.
K92 chief executive officer and director John Lewins said, “The results achieved in treating this initial 2050 tonne bulk sample from Kora are significantly above our best expectations. To achieve this level of metallurgical performance from almost the very first tonne treated is outstanding and a testament to the quality and ability of our processing personnel.
“While the results are consistent with those achieved in earlier metallurgical test work reported in the PEA, it is exciting to consider that our processing personnel believe that the plant performance can be improved beyond that already achieved following detailed analysis of these results.
“Of equal or potentially greater importance is that the bulk sample was mined from a part of Kora which was only discovered by the company in May of this year and is 500 metres down dip and a similar distance along strike from the known Kora deposit.”
The current Kora/Eutompi inferred resource, as defined by previous drilling, is 4.36 million tonnes at a grade of 7.3 g/t gold, 35 g/t silver and 2.23% copper, or 11.2 g/t gold equivalent and is open for expansion at depth and in both directions along strike.
K92 Mining