Kainantu area miner K92 Mining Inc. has completed treating an initial 2,050 tonne bulk sample from the interpreted Kora vein producing a total of 96 tonnes of concentrate at an average grade of 138 g/t Au and 19% Cu containing 427 ozs of gold and 18.2 tonnes of copper was produced from this 2,050 tonne bulk sample.
The company said the bulk sample was mined from a four-metre-by-four-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 Au and 0.95 % Cu which is consistent with that predicted from grade control face sampling underground.
K92 Chief Executive Officer John Lewins said the company believes that 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 optimization of the flotation circuit following detailed review of the performance of the plant.
“The results achieved in treating this initial 2,050 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,” Mr Lewins said.
“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 horizontal development has mined through where K92 Kora hole KMDD0009 intersected the vein (see K92 news release dated May 24, 2017, for details regarding discovery hole KMDD0009 including true thicknesses).
The KMDD0009 intersection is approximately 500 metres along strike and 150 metres downdip from the closest point of the currently defined Kora deposit inferred resource and is typical of the Kora/Eutompi mineralization.
The current Kora/Eutompi inferred resource, as defined by previous drilling to date, is 4.36 million tonnes at a grade of 7.3 g/t Au, 35 g/t Ag and 2.23 per cent Cu, or 11.2 g/t gold equivalent (see attached table) and is open for expansion at depth and in both directions along strike.