• PNG Business News

K92 Mining Shares Rise



K92 Mining has revealed that its shares have gone up.

With results from the continuing diamond drilling of the Kora deposit at the Kainantu gold, the drilling results are highlighted by hole KMDD0261, which documented several high-grade intersections including 9.80 m at 83.27 g/t Au, 10 g/t Ag and 1.03% Cu (84.92 g/t AuEq, 6.63 m true width) at the K1 Vein.

As for drilling to the south, the firm said in a statement that it has continued to intersect important mineralisation, highlighted by KMDD0229 which is recording several intersections that include 1.67 m at 29.76 g/t Au, 8 g/t Ag and 0.87% Cu (31.15 g/t AuEq, 1.11 m true width) at the K1 Vein.

K92 CEO John Lewins in a media release said, “All twenty-eight holes intersected mineralization, with 18 intersections exceeding +10 g/t AuEq and 29 intersections exceeding +5g/t AuEq. We are pleased to announce the arrival of our tenth drill rig on site. Over the last twelve months, our drill rig fleet has doubled. We intend to continue to add drill rigs through 2021, with our eleventh drill rig scheduled to arrive in Q1. Drilling is underway at Kora, Karempe and Judd epithermal vein systems and the Blue Lake porphyry.”

The Kora Deposit is composed of two parallel, steeply west-dipping, north-south striking quartz-sulphide vein systems, K1 and K2 - within an encompassing distant structural zone hosted by phyllite. The Kora Link, an additional structure, has also been defined between K1 and K2.

The estimate of the present resource has an area of approximately 1,250 metres along strike by 1,050 to 1,150 metres vertically, representing ~75% of the drill target area.

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