K92 Mining has defined an initial resource at the Kora North deposit of Kainantu Gold Project. The resource is based on results from grade control drilling and face sampling, and will be used for initial mining blocks at the deposit.

Twin boom jumbo operators at K92 Mining’s Kora underground deposit.

The initial resource covers an area 150 metres along strike by 75 metres high and contains 124,200 tonnes @ 7.17 grams/tonne gold, 19 g/t silver and 1.06% copper.

This includes a measured resource of 45,000 tonnes @ 9.92 grams/tonne gold, 27 grams/tonne silver and 1.94% copper and an indicated resource of 41,500 tonnes @ 9.57 grams/tonne gold, 26 grams/tonne silver and 0.91% copper.

Mining blocks have been defined by applying a minimum mining width of 2.5 metres and mining dilution of 0.5 metres to the measured and indicated resources in an area 150 metres along strike between the 1160 mRL and 1235 mRL levels.

This tonnage excludes approximately 8000 tonnes mined as a bulk sample from the initial 4 metre x 4 metre drive on the 1185 mRL level.

K92 plans that the material defined in these mining blocks will be mined over the next nine months.

K92’s chief executive officer and director John Lewins said, “We are extremely pleased with the initial resource and mining blocks that have been defined using results from the grade control drilling and face sampling.

“With over 8000 tonnes already mined and a further 124,200 tonnes remaining in the 150 metre x 75 metre mining block, our target of identifying mining blocks containing 200,000 to 250,000 tonnes at a grade of 7-9 grams/tonne gold equivalent from grade control drilling covering an area of 150 metres x 150 metres from this first drill cuddy appears achievable.

“We will continue to mine from development within this area and expect to commence stope production from Kora North in early 2018. We are also continuing to develop along strike on the Kora lode to the south towards the existing Kora deposit.”

Drilling from the first cuddy, at grade control spacing, is part of a strategy to define mining blocks in the Kora North discovery area while concurrently starting to test the large size potential of Kora, which remains not only open along strike and at depth, but strongly mineralised at the extent of all drilling.