Owing to the success of the exploration drill program at its Kora deposit of the Kainantu Gold Project in Papua New Guinea, K92 Mining has added a second drill rig. The new rig is now operating from an underground set up.
The company says this will increase data flow as it targets to build up tonnage via drilling at grade control spacing in the immediate area surrounding the Kora extension discovery while also targeting to conduct enhanced exploration of Kora, a deposit which remains not only open in every direction but strongly mineralized at the extent of all drilling.
The ongoing drilling has intersected further high grades of gold and copper mineralisation. The best of the recent results are 3.4 metres @ 11.76 g/t gold, 21 g/t silver and 2.84% copper while in the same hole K92 also intersected what it interprets as the Irumafimpa vein and parallel to the Kora vein, which assayed 3.80 metres @ 5.45 g/t gold, 8 g/t silver and 0.22% copper.
This was the 10th hole drilled to follow up on the initial discovery of the northern extension of the Kora vein. All 10 holes have intersected gold, silver and copper mineralisation.
K92 is undertaking a program drilling a total of 24 drill holes from an underground drill cuddy approximately 50 metres from the Kora vein. This initial 24 hole program, which will be completed in December, is designed to drill out an area of approximately 150 metres by 150 metres on a 25 by 25 metre grid pattern, which is grade control spacing.
K92 also reports that it is continuing to drive along the strike of the Kora vein in a northerly and southerly direction with this mined material being processed through the plant.
K92 CEO John Lewins said, “We continue to intersect high grades of gold and copper as we follow up on the Kora extension discovery. Based on this ongoing success, a second drill rig has now been added to intensify and expand this definition and exploration program.”
K92 Mining