K92 Mining Inc. has hit a number of high-grade intersections from the continuing diamond drilling of the Kora North Extension of the Kainantu gold mine in Papua New Guinea.
The results for the latest 10 diamond drill holes completed from both surface and underground into the Kora North deposit include multiple high-grade intersections, and in particular KMDD0147 & KMDD0147A, which are among the company’s most southern holes at Kora North and among the highest-grade intersections to date at the Kainantu Gold Mine.
KMDD0147 recorded a K1 intersection stepping out ~100m to the south at ~1100m RL of 13.60 m at 107.55 g/t Au, 103 g/t Ag and 1.50% Cu (111.34 g/t gold equivalent (“AuEq”), 6.44 m true width). KMDD0147A, proximal to KMD0147, recorded a K1 intersection of 13.00 m at 288.73 g/t Au, 104 g/t Ag and 0.77% Cu (291.34 g/t AuEq, 6.15 m true width). As shown in our long sections drilling to date has documented higher grades to the South.
John Lewins, K92 CEO and director said drill results also continue to demonstrate the potential to extend known mineralization up-dip and to depth. KMDD0145, our deepest Kora North drill hole to date, recorded a K1 intersection of 5.49 m at 11.71 g/t Au, 5 g/t Ag and 0.04% Cu (11.84 g/t AuEq, 1.51 m true width) at ~850m elevation. The K1 intersection is ~50m below and ~400m along strike to the north from previously reported KMDD0143 of 2.00 m at 5.09 g/t Au, 24 g/t Ag and 4.16% Cu (11.77 g/t AuEq, 0.92 m true width).
Surface hole EKDD0007A, located in a sparsely drilled area of “Kora Gap”, between the Kora / Eutompi resource and ~200m up-dip of the October 2018 Kora North resource recorded 4.04 m at 17.09 g/t Au, 15 g/t Ag and 1.22% Cu (19.15 g/t AuEq, 2.59 m true width) at ~1500m elevation.
Mr Lewins said the results show that the K1 and K2 vein systems, combined with those previously reported, have a vertical extent of over 1,000 metres from surface and still open at depth. Long sections of K1 and K2 showing the location of the latest drill holes are provided in Figures 1 and 2, respectively.
“The reported results continue to demonstrate the high-grade pedigree and continuity of the Kora/Kora North system,” Mr Lewins said.
“The results also highlight the high potential for the mineralization to extend to depth, up-dip of Kora North and along strike to the South. The reported results include two step-out holes to the South, KMDD0147 and KMDD0147A, which are among the highest grade intersections at Kainantu to date.
“KMDD0145, our deepest hole drilled to date, recorded a K1 intersection of 5.49 m at 11.71 g/t Au, 5 g/t Ag and 0.04% Cu (11.84 g/t AuEq, 1.51 m true width). This hole is particularly significant as it is more than 300 m below the current operating level, demonstrates a 1km mineralized vertical window at K1 and that the Kora/Kora North system remains open at depth. KMDD0145 also reported a K2 vein intersection, which was low grade, but is nevertheless important as it demonstrates that the structure remains robust to depth (1.9 m true width intersection) and other, previously reported, K2 deeper drilling is high grade. Our drill program plans to drill even deeper.
“As we continue our development towards the southern boundary of our mining lease, we have recently established our most southerly drill cuddy. We have now commenced drilling from this cuddy and anticipate our first results from step out holes from this cuddy in the coming weeks. We are particularly excited about this, as Kora North drilling to date has recorded higher grades in both the K1 and K2 veins, along strike to the south.”
