K92 Mining drills 27.03 g/t AuEq over 78.5 metres at Kainantu mine, Papua New Guinea

K92 Mining Inc. [TSX-KNT; OTCQX-KNTNF] reported the latest high-grade results from the continuing 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, at the Kainantu gold mine in Papua New Guinea.

Highlights: Multiple dilatant zones intersected at Kora’s K2 vein, including a new dilatant zone discovered outside of the Kora resource estimate at Kora South and the extension of an existing dilatant zone down dip.

Kora South new dilatant zone intercepts: KUDD0053 returned 78.50 metres at 27.03 gr/t AuEq (gold equivalent) (24.94 g/t gold, 116 g/t silver and 0.38% copper). KUDD0056 returned 34 m at 8.14 g/t AuEq (5.45 g/t Au, 130 g/t Ag and 0.65 per cent Cu).

Known dilatant zone extended down dip: KUDD0058 returned 51 m at 7.04 g/t AuEq (0.82 g/t Au, 48 g/t Ag and 3.58 per cent Cu).

High-grade zones within Kora’s K1 and K2 veins extended in multiple directions, and at higher grades in multiple areas than the resource model, including K1 vein high-grade extension up-dip from main underground mining area: KMDD0590 returned 3.26 m at 86.92 g/t AuEq (86.40 g/t Au, 10 g/t Ag and 0.25% Cu).

KMDD0634 returned 12.09 m at 18.90 g/t AuEq (15.45 g/t Au, 34 g/t Ag and 1.92% Cu). KMDD0591 returned 3.90 m at 49.78 g/t AuEq (49.14 g/t Au, eight g/t Ag and 0.34% Cu). KMDD0596 returned 8.74 m at 25.91 g/t AuEq (24.21 g/t Au, 14 g/t Ag and 0.97% Cu). KMDD0635 returned 11.15 m at 16.27 g/t AuEq (8.40 g/t Au, 88 g/t Ag and 4.30% Cu).

KMDD0592 returned 5.50 m at 22.16 g/t AuEq (21.18 g/t Au, 15 g/t Ag and 0.50% Cu). KMDD0617 returned 2.25 m at 32.64 g/t AuEq (27.85 g/t Au, eight g/t Ag and 2.99% Cu).

K2 vein high-grade extension up dip from main underground mining area: KMDD0662 -returned Nine m at 40.36 g/t AuEq (32.47 g/t Au, 63 g/t Ag and 4.52% Cu). KMDD0657 returned 6.05 m at 47.27 g/t AuEq (38.03 g/t Au, 94 g/t Ag and 5.13% Cu).

KMDD0624 returned 5.60 m at 23.16 g/t AuEq (14.31 g/t Au, 30 g/t Ag and 5.40% Cu). KMDD0617 returned 5.10 m at 21.46 g/t AuEq (20.06 g/t Au, 11 g/t Ag and 0.80% Cu).

Step-out drilling to the south, outside of the current resource, at the K2 vein intersected multiple high-grade gold and high-grade copper intersections: KMDD0654A returned 17.45 m at 23.79 g/t AuEq (16.77 g/t Au, 72 g/t Ag and 3.89% Cu). KMDD0632 returned 9.30 m at 15.30 g/t AuEq (7.87 g/t Au, 105 g/t Ag and 3.88% Cu).

Judd’s J1 vein saw an extension of the high-grade zone up dip and in multiple areas significantly higher grade than the resource model, plus step-out intersecting significant near-surface mineralization approximately 300 m north: J1 vein high-grade extension up-dip from main underground mining area: JDD0235 returned 4.13 m at 69.10 g/t AuEq (68 g/t Au, 13 g/t Ag and 0.60% Cu). JDD0239 returned 2.70 m at 44.48 g/t AuEq (44.03 g/t Au, 11 g/t Ag and 0.19% Cu).

JDD0231 returned 3.67 m at 41.05 g/t AuEq (37.49 g/t Au, 59 g/t Ag and 1.79% Cu). JDD0223 returned 6.53 m at 17.41 g/t AuEq (16.66 g/t Au, 19 g/t Ag and 0.31% Cu).

J1 vein near-surface stepout approximately 300 m to the north: KODD0055 returned 9.85 m at 7.58 g/t AuEq (7.37 g/t Au, two g/t Ag and 0.13% Cu).

John Lewins, CEO and director, stated: “The latest set of drilling results continue to confirm our view that the resource expansion potential of Kora-Kora South and Judd-Judd South is very significant, in addition to significant opportunities to expand high-grade zones through increased drill density. The high-grade zones expanded vertically at K1, K2 and J1 are particularly important, as they are immediately above our main mine workings, setting ourselves up well for the stage 3 expansion over the near and medium term in that area. To the south, the discovery of the new dilatant zone is very encouraging, and the high-grade underground stepout intersections from the 1,205-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.

“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.”

Results continue to demonstrate the high-grade, continuity and expansion potential of the Kora-Kora South and Judd-Judd South vein systems. Intersections largely focused on increasing drill density vertically while also targeting resource extension along strike to the south and north.

All drill holes at Kora-Kora South (including Northern Deeps) intersected mineralization, with 31 intersections exceeding 10 g/t AuEq and 89 intersections exceeding five g/t AuEq. At Judd-Judd South (including Northern Deeps), all drill holes intersected mineralization, with 12 intersections exceeding 10 g/t AuEq and 27 intersections exceeding five g/t AuEq.

K92 Mining is engaged in the production of gold, copper and silver at the Kainantu gold mine in the Eastern Highlands province of Papua New Guinea, as well as exploration and development of mineral deposits in the immediate vicinity of the mine. The company declared commercial production from Kainantu in February 2018 and is in a strong financial position.