K92 Mining (TSX:KNT) is continuing to demonstrate the continuity and expansion potential of the Kora-Kora South and Judd-Judd South vein systems from ongoing drilling within its Kainantu Gold Mine in Papua New Guinea.
The Vancouver-based producer, which has just shy of a C$1.79 billion (A$1.98 billion) market capitalisation, says results from the surface and underground diamond drilling of the Kora, Kora South, Judd, and Judd South deposits, in addition to the Kora and Judd Northern Deeps targets, have identified a new dilatant zone outside of the Kora resource.
Assays from the new dilatant zone demonstrate grades up to 27.03 grams per tonne (g/t) gold equivalent.
Other results from the ongoing program highlight that zones within Kora’s K1 and K2 veins extend in multiple directions and at higher grades in multiple areas than the resource model.
Assays from the K1 vein include 86.4g/t gold, 10g/t silver, and 0.25% copper, while assays from the K2 vein include 38.03g/t gold, 94g/t silver, and 5.13% copper.
The J1 vein at Judd-Judd South has also been extended up-dip and returned results from multiple areas which are higher than the resource model, as well as near-surface mineralisation about 300m north.
CEO John Lewins says the high-grade zones expanded vertically at K1, K2, and J1 are particularly important since they are immediately above the main mine workings.
“To the south, the discovery of the new dilatant zone is very encouraging and the high-grade underground step-out intersections from the 1205 Level drill drive continue to support our view that like Kora, Kora South’s best grade potential is at depth, and we are just starting to scratch the surface there,” Lewins says.
“Beyond Kora-Kora South and Judd-Judd South, at Arakompa, exploration activities continue to ramp-up, with a third rig imminently commencing drilling. We look forward to providing an update in due course.”
K92 Mining is focused on the production of gold, copper, and silver at the Kainantu Gold Mine in the Eastern Highlands province of Papua New Guinea, as well as the exploration and development of mineral deposits in the immediate vicinity of the mine.
Write to Adam Drought at Mining.com.au
Images: K92 Mining
