K92 Mining drills 10.4 metres of 24.81 g/t gold at Kainantu
K92 Mining Inc. [KNT-TSXV; KNTNF-OTCQX] has announced results from the continuing diamond drilling of the Kora deposit at the Kainantu gold mine in Papua New Guinea. The results for the latest 37 diamond drill holes completed from surface and underground into the Kora deposit continue to demonstrate the high-grade and continuity of Kora with intersections largely focused on increasing drill density toward the south in addition to extending mineralization to the south at depth. All drill holes intersected mineralization.
Drill hole KMDD0181 recorded multiple intersections including 10.40 metres at 24.81 g/t gold, 11 g/t silver and 0.28% copper (25.36 g/t gold equivalent (AuEq), 4.58 metres true width) at the K2 vein and 2.84 metres at 5.36 g/t gold, 628 g/t silver and 8.39% copper (25.10 g/t AuEq, 1.68 metres true width) at the K3 vein.
Drill hole KMDD0189 returned multiple intersections including 4.26 metres at 45.98 g/t gold, 136 g/t silver and 7.39% copper (58.58 g/t AuEq, 4.04 metres true width) at the K2 vein. In combination with K1, Kora Link and K2, records a bulk intersection of 24.0 metres at 11.31 g/t gold, 26 g/t silver and 1.40% copper (13.71 g/t AuEq, 22.8 metres true width).
Many other l holes had multiple intersections. Refer to company press release for complete assays.
John Lewins, CEO, stated: “The results have once again demonstrated the high-grade pedigree and continuity of the Kora system, underpinned by multiple high-grade intersections including: KMDD0189 recording 4.26 metres at 45.98 g/t gold, 136 g/t silver and 7.39% copper (58.58 g/t AuEq, 4.04 metres true width) and KMDD0226 recording 8.80 metres at 34.31 g/t gold, 6 g/t silver and 0.17% copper (34.63 g/t AuEq, 4.99 metres true width).
“Importantly, Kora remains open in multiple directions and a major focus for the remainder of 2020 and into 2021 will be to continue to expand Kora’s known mineralized extents. This is in addition to significantly upgrading inferred resources to measured and indicated for the stage 3 expansion feasibility study.”
In mid-morning trading, K92 Mining shares gained $0.07 to $4.96 on a volume of 886,500 shares traded.