K92 Announces More High-Grade Kora Drill Results from Kora North Extension

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  • Drill Hole KMDD0105 records multiple intersections including 6.00 m at 43.20 g/t Au, 290 g/t Ag and 0.51% Cu (47.66 g/t Au Eq) plus 2.01 m at 4.73 g/t Au, 15 g/t Ag and 1.44% Cu (7.12 g/t AuEq)
  • Drill Hole KMDD0108 records multiple intersections including 8.02 m at 17.16 g/t Au, 5 g/t Ag and 0.54% Cu (18.04 g/t AuEq)plus 7.74 m at 2.53 g/t Au, 159 g/t Ag and 2.82% Cu (8.86 g/t AuEq)
  • Drill Hole KMDD0110 records 3.53 m at 35.73 g/t Au, 16 g/t Ag and 0.28% Cu (36.36 g/t AuEq) plus 5.60 m at 6.83 g/t Au, 2 g/t Ag and 0.12% Cu (7.04 g/t AuEq) plus 3.44 m at 10.78 g/t Au, 5 g/t Ag and 0.59% Cu (11.75 g/t AuEq)
  • Drill Hole KMDD0110A records 6.20 m at 23.59 g/t Au, 6 g/t Ag and 0.50% Cu (24.42 g/t AuEq) plus 5.00 m at 2.77 g/t Au, 38 g/t Ag and 1.22% Cu (5.11 g/t AuEq)

VANCOUVER, British Columbia, Jan. 15, 2019 (GLOBE NEWSWIRE) — K92 Mining Inc. (TSX-V: KNT; OTCQX: KNTNF) (“K92” or the “Company”) is pleased to announce results from the continuing diamond drilling of the Kora North Extension.

The results for the latest 10 diamond drill holes completed from Diamond Drill Cuddies 3 and 4 (DDC3 and DDC4) into the Kora North deposit are summarized in Table 1 below. These results continue to delineate and extend both the K1, K2 lodes as well as the KL structure between the lodes. Long sections showing all holes drilled to date in both K1 and K2 are provided below. Note that KMDD0106 was terminated prior to the projected intersection of K2 due to slow penetration rates through wet broken ground. Table 2 provides details of collar location and hole orientation.

K1 Long Section – Kora North

K2 Long Section – Kora North

John Lewins, K92 Chief Executive Officer and Director, states, “In October 2018, the Company reported an updated resource estimate for Kora North comprising a Measured Resource of 154,000 tonnes @ 18.7 g/t Au, 8.9 g/t Ag and 0.5% Cu; an Indicated Resource of 690,000 tonnes @ 11.6 g/t Au, 14.1 g/t Ag and 0.8% Cu and an Inferred Resource of 1.92 million tonnes @ 10.7 g/t Au, 13.3 g/t Ag and 0.7% Cu. The resource estimate was based on results from 80 drill holes as well as over 1,300 face samples. We are now reporting results for a further 10 diamond drill holes which provide not only confirmation of the continuity of the K1 and K2 lodes, but also continue to extend the known vertical and horizontal extent of the lodes.

Importantly, with two new and more powerful underground diamond rigs being brought in, we expect to significantly increase the metres drilled in 2019 in comparison to 2018.”

Table 1 – Kainantu Gold Mine – Significant Intercepts from Diamond Drill Cuddies 3 & 4

Hole_id From
(m)
To
(m)
Interval
(m)
True
width
(m)
Gold
g/t
Silver
g/t
Copper
%
Gold
equivalent

g/t
Comment
KMDD0103 152.91 156.78 3.87 1.73 3.51 3 0.41 4.19  
Including 152.91 153.91 1.00 0.45 5.94 4 0.14 6.21  
Including 153.91 154.79 0.88 0.39 1.68 1 0.27 2.10  
Including 154.79 155.30 0.51 0.23 8.59 4 0.46 9.34  
Including 155.30 156.05 0.75 0.34 0.50 2 0.20 0.83  
Including 156.05 156.78 0.73 0.33 1.94 5 1.16 3.78  
KMDD0103 171.31 174.29 2.98 1.33 1.41 2 0.23 1.78  
Including 171.31 171.90 0.59 0.26 6.32 2 0.10 6.49  
Including 171.90 172.70 0.80 0.36 0.02 1 0.05 0.10  
Including 172.70 173.28 0.58 0.26 0.04 1 0.02 0.09  
Including 173.28 174.04 0.76 0.34 0.09 1 0.02 0.13  
Including 174.04 174.29 0.25 0.11 1.42 8 2.23 4.93  
KMDD0103 205.20 215.52 10.32 4.62 3.57 50 1.08 5.85  
Including 205.20 206.70 1.50 0.67 12.38 34 0.36 13.37  
Including 206.70 207.40 0.70 0.31 0.82 9 0.27 1.35  
Including 207.40 208.40 1.00 0.45 2.35 13 0.19 2.80  
Including 208.40 209.00 0.60 0.27 10.16 201 1.07 14.35  
Including 209.00 210.33 1.33 0.60 1.22 34 0.78 2.85  
Including 210.33 211.26 0.93 0.42 0.67 23 0.47 1.67  
Including 211.26 212.13 0.87 0.39 0.71 16 0.25 1.30  
Including 212.13 213.32 1.19 0.53 2.13 42 0.87 3.99  
Including 213.32 213.60 0.28 0.13 0.27 25 0.80 1.80  
Including 213.60 214.51 0.91 0.41 1.56 91 2.95 7.23  
Including 214.51 215.52 1.01 0.45 2.29 101 3.89 9.52  
KMDD0103 218.90 225.50 6.60 2.96 0.88 20 1.12 2.84  
Including 218.90 222.00 3.10 1.388 0.960 19 0.834 2.48  
Including 222.00 222.42 0.42 0.188 0.04 1 0.0669 0.16  
Including 222.42 223.48 1.06 0.475 0.92 9 1.003 2.57  
Including 223.48 224.50 1.02 0.457 0.65 24 0.886 2.31  
Including 224.50 225.00 0.50 0.224 1.15 15 0.433 2.00  
Including 225.00 225.50 0.50 0.224 1.2 58 5.16 9.83  
KMDD0105 96.79 98.38 1.59 1.03 3.52 3 0.37 4.12  
Including 96.79 97.28 0.49 0.32 5.87 3 0.29 6.36  
Including 97.28 97.72 0.44 0.29 2.68 3 0.57 3.58  
Including 97.72 98.38 0.66 0.43 2.34 2 0.30 2.83  
KMDD0105 111.85 113.86 2.01 1.30 4.73 15 1.44 7.12  
Including 111.85 112.22 0.37 0.24 4.34 8 0.42 5.08  
Including 112.22 112.68 0.46 0.30 0.60 4 0.35 1.18  
Including 112.68 113.10 0.42 0.27 8.25 54 5.87 17.92  
Including 113.10 113.46 0.36 0.23 0.31 3 0.29 0.79  
Including 113.46 113.86 0.40 0.26 10.13 3 0.01 10.19  
KMDD0105 118.20 124.20 6.00 3.89 43.20 290 0.51 47.66  
Including 118.20 119.11 0.91 0.59 146.40 1050 0.85 161.03  
Including 119.11 120.25 1.14 0.74 83.50 440 0.83 90.36  
Including 120.25 120.97 0.72 0.47 0.85 10 0.43 1.64  
Including 120.97 121.61 0.64 0.42 37.83 350 0.72 43.38  
Including 121.61 122.10 0.49 0.32 0.53 15 0.67 1.74  
Including 122.10 122.84 0.74 0.48 0.10 4 0.01 0.17  
Including 122.84 124.20 1.36 0.88 4.13 31 0.16 4.76  
KMDD0105 153.53 162.30 8.77 5.69 0.29 8 0.61 1.32  
Including 153.53 154.00 0.47 0.30 0.14 10 0.69 1.31  
Including 154.00 154.62 0.62 0.40 0.92 7 0.17 1.27  
Including 154.62 155.44 0.82 0.53 0.01 8 0.02 0.14  
Including 155.44 156.10 0.66 0.43 0.06 1 0.28 0.50  
Including 156.10 156.62 0.52 0.34 0.45 2 3.23 5.42  
Including 156.62 156.92 0.30 0.19 0.11 39 0.37 1.17  
Including 156.92 157.22 0.30 0.19 1.78 66 5.59 11.17  
Including 157.22 158.62 1.40 0.91 0.08 1 0.04 0.15  
Including 158.62 159.50 0.88 0.57 0.08 1 0.02 0.13  
Including 159.50 160.00 0.50 0.32 0.12 8 0.05 0.30  
Including 160.00 161.10 1.10 0.71 0.43 11 0.41 1.19  
Including 161.10 161.77 0.67 0.43 0.05 1 0.02 0.09  
Including 161.77 162.30 0.53 0.34 0.56 7 1.26 2.57  
KMDD0106 77.33 80.00 2.67 1.68 5.87 4 0.61 6.86  
Including 77.33 78.00 0.67 0.42 4.06 2 0.50 4.86  
Including 78.00 78.60 0.60 0.38 7.29 2 0.64 8.29  
Including 78.60 79.05 0.45 0.28 11.06 8 1.22 13.02  
Including 79.05 80.00 0.95 0.60 3.78 5 0.39 4.45  
KMDD0106 82.20 85.27 3.07 1.93 7.45 2 0.09 7.61  
Including 82.20 82.72 0.52 0.33 16.25 3 0.11 16.46  
Including 82.72 83.30 0.58 0.36 1.36 2 0.03 1.42  
Including 83.30 84.00 0.70 0.44 1.93 1 0.20 2.24  
Including 84.00 84.62 0.62 0.39 16.32 1 0.08 16.45  
Including 84.62 85.27 0.65 0.41 3.35 1 0.03 3.40  
KMDD0106 85.27 87.00 1.73 1.09 1.15 1 0.07 1.27  
including 85.27 86.00 0.73 0.46 1.31 1 0.10 1.47  
including 86.00 87.00 1.00 0.63 1.03 1 0.05 1.12  
KMDD0106 88.08 89.00 0.92 0.58 1.41 1 0.01 1.44  
KMDD0106 91.00 92.00 1.00 0.63 1.80 1 0.16 2.05  
KMDD0106 98.20 100.20 2.00 1.27 14.09 38 1.42 16.73  
Including 98.20 98.70 0.50 0.32 0.48 8 0.32 1.07  
Including 98.70 99.40 0.70 0.44 36.65 71 3.64 43.12  
Including 99.40 100.20 0.80 0.51 2.86 27 0.15 3.44  
KMDD0107 31.50 40.80 9.30 5.52 1.82 2 0.29 2.29  
Including 31.50 32.50 1.00 0.59 12.88 4 0.34 13.45  
Including 32.50 33.52 1.02 0.61 0.22 3 0.42 0.89  
Including 33.52 34.50 0.98 0.58 0.09 2 0.18 0.40  
Including 34.50 35.52 1.02 0.61 0.16 2 0.43 0.84  
Including 35.52 36.11 0.59 0.35 0.16 1 0.27 0.59  
Including 36.11 37.12 1.01 0.60 0.66 0 0.21 0.99  
Including 37.12 38.23 1.11 0.66 1.21 0 0.10 1.36  
Including 38.23 39.20 0.97 0.58 1.04 1 0.09 1.20  
Including 39.20 40.20 1.00 0.59 0.22 0 0.37 0.78  
Including 40.20 40.80 0.60 0.36 0.41 9 0.66 1.54  
KMDD0107 108.50 112.60 4.10 2.87 2.41 10 0.91 3.94  
Including 108.50 109.33 0.83 0.58 7.89 22 1.45 10.39  
Including 109.33 109.80 0.47 0.33 0.75 4 0.84 2.08  
Including 109.80 110.58 0.78 0.55 0.12 7 1.24 2.10  
Including 110.58 111.37 0.79 0.55 0.78 11 0.76 2.08  
Including 111.37 111.82 0.45 0.32 0.13 5 0.18 0.47  
Including 111.82 112.60 0.78 0.55 2.86 7 0.63 3.91  
KMDD0108 80.50 87.53 7.03 4.93 10.08 8 0.25 10.57  
Including 80.50 80.90 0.40 0.28 13.08 11 0.06 13.31  
Including 80.90 81.88 0.98 0.69 4.89 2 0.04 4.97  
Including 81.88 82.80 0.92 0.65 1.33 3 0.14 1.58  
Including 82.80 83.48 0.68 0.48 28.60 22 0.06 28.98  
Including 83.48 84.50 1.02 0.72 24.20 13 0.37 24.93  
Including 84.50 85.50 1.00 0.70 1.37 7 0.35 2.00  
Including 85.50 86.60 1.10 0.77 3.60 9 0.37 4.28  
Including 86.60 87.53 0.93 0.65 10.93 5 0.43 11.65  
KMDD0108 89.80 97.82 8.02 5.62 17.16 5 0.54 18.04  
Including 89.80 91.10 1.30 0.91 0.78 4 1.05 2.44  
Including 91.10 92.26 1.16 0.81 2.37 3 0.38 2.98  
Including 92.26 93.13 0.87 0.61 13.15 4 0.55 14.04  
Including 93.13 94.92 1.79 1.26 50.41 4 0.63 51.42  
Including 94.92 95.62 0.70 0.49 13.89 13 0.59 14.96  
Including 95.62 96.64 1.02 0.72 15.74 4 0.18 16.07  
Including 96.64 97.82 1.18 0.83 5.43 4 0.27 5.90  
KMDD0108 100.08 107.22 7.14 5.01 2.51 5 1.00 4.11  
Including 100.08 100.90 0.82 0.58 16.32 15 0.31 16.98  
Including 100.90 101.30 0.40 0.28 3.12 4 0.59 4.07  
Including 101.30 102.30 1.00 0.70 0.85 3 0.46 1.59  
Including 102.30 103.21 0.91 0.64 0.72 4 1.03 2.35  
Including 103.21 104.33 1.12 0.79 0.18 3 0.58 1.10  
Including 104.33 105.43 1.10 0.77 0.19 1 0.26 0.60  
Including 105.43 105.90 0.47 0.33 0.13 2 0.17 0.42  
Including 105.90 106.47 0.57 0.40 1.30 10 3.46 6.72  
Including 106.47 107.22 0.75 0.53 0.45 8 3.03 5.19  
KMDD0108 112.06 119.80 7.74 5.43 2.53 159 2.82 8.86  
Including 112.06 112.80 0.74 0.52 1.63 12 0.22 2.11  
Including 112.80 113.96 1.16 0.81 0.12 1 0.01 0.14  
Including 113.96 114.46 0.50 0.35 0.82 1 0.03 0.87  
Including 114.46 115.70 1.24 0.87 0.60 24 1.52 3.23  
Including 115.70 117.60 1.90 1.33 3.78 387 7.56 20.26  
Including 117.60 118.60 1.00 0.70 9.48 450 5.31 23.32  
Including 118.60 119.80 1.20 0.84 0.37 2 0.08 0.52  
KMDD0109 36.00 42.00 6.00 3.54 5.47 6 0.51 6.32  
Including 36.00 37.10 1.10 0.65 10.40 1 0.06 10.49  
Including 37.10 38.00 0.90 0.53 16.50 19 1.08 18.39  
Including 38.00 38.85 0.85 0.50 2.08 15 1.36 4.35  
Including 38.85 40.00 1.15 0.68 0.50 1 0.53 1.32  
Including 40.00 40.80 0.80 0.47 0.08 1 0.28 0.51  
Including 40.80 42.00 1.20 0.71 3.46 1 0.04 3.53  
KMDD0109 53.00 54.50 1.50 0.76 0.96 50 1.58 4.02
KMDD0109 74.20 78.45 4.25 2.71 6.28 5 0.97 7.83  
Including 74.20 74.41 0.21 0.13 2.50 1 0.05 2.59  
Including 74.41 74.90 0.49 0.31 0.52 3 0.63 1.51  
Including 74.90 75.90 1.00 0.64 0.49 6 1.02 2.12  
Including 75.90 76.50 0.60 0.38 0.13 2 0.33 0.66  
Including 76.50 77.40 0.90 0.57 18.10 9 0.53 19.02  
Including 77.40 78.45 1.05 0.67 8.64 4 2.00 11.76  
KMDD0110 79.86 83.39 3.53 2.02 35.73 16 0.28 36.36  
Including 79.86 80.32 0.46 0.26 5.62 15 0.09 5.94  
Including 80.32 81.26 0.94 0.54 14.91 5 0.33 15.47  
Including 81.26 81.64 0.38 0.22 6.96 3 0.10 7.15  
Including 81.64 82.04 0.40 0.23 16.66 16 0.57 17.73  
Including 82.04 82.57 0.53 0.30 30.82 14 0.36 31.55  
Including 82.57 83.39 0.82 0.47 102.30 38 0.21 103.11  
KMDD0110 88.00 93.60 5.60 3.20 6.83 2 0.12 7.04  
Including 88.00 88.51 0.51 0.29 3.13 1 0.15 3.37  
Including 88.51 88.88 0.37 0.21 0.15 1 0.14 0.37  
Including 88.88 89.40 0.52 0.30 1.06   0.38 1.65  
Including 89.40 91.00 1.60 0.92 13.44 2 0.08 13.59  
Including 91.00 91.70 0.70 0.40 2.80 4 0.15 3.07  
Including 91.70 92.10 0.40 0.23 0.08 2 0.04 0.16  
Including 92.10 93.60 1.50 0.86 8.36 1 0.08 8.49  
KMDD0110 107.20 110.64 3.44 2.21 10.78 5 0.59 11.75  
Including 107.20 107.48 0.28 0.18 1.58 12 1.19 3.56  
Including 107.48 108.00 0.52 0.33 64.50 11 0.83 65.90  
Including 108.00 108.48 0.48 0.31 1.50 6 0.78 2.78  
Including 108.48 109.45 0.97 0.62 0.34 1 0.18 0.62  
Including 109.45 110.30 0.85 0.55 0.51 3 0.42 1.19  
Including 110.30 110.64 0.34 0.22 4.79 8 1.08 6.54  
KMDD0110A 107.00 113.20 6.20 3.99 23.59 6 0.50 24.42  
Including 107.00 107.70 0.70 0.45 1.41 2 0.66 2.44  
Including 107.70 108.70 1.00 0.64 4.61 1 0.14 4.83  
Including 108.70 109.40 0.70 0.45 1.20 1 0.08 1.34  
Including 109.40 110.30 0.90 0.58 152.00 18 0.86 153.55  
Including 110.30 111.15 0.85 0.55 1.38 9 0.61 2.42  
Including 111.15 112.10 0.95 0.61 0.62 3 0.40 1.26  
Including 112.10 112.30 0.20 0.13 2.39 4 0.69 3.49  
Including 112.30 113.20 0.90 0.58 0.89 5 0.68 1.99  
KMDD0110A 122.10 127.10 5.00 3.22 2.77 38 1.22 5.11  
Including 122.10 122.45 0.35 0.23 7.80 34 0.19 8.52  
Including 122.45 122.90 0.45 0.29 9.65 56 0.38 10.94  
Including 122.90 123.45 0.55 0.35 8.18 46 0.86 10.07  
Including 123.45 123.70 0.25 0.16 0.72 42 1.07 2.88  
Including 123.70 123.94 0.24 0.15 1.67 401 14.16 28.42  
Including 123.94 124.90 0.96 0.62 0.11 14 0.87 1.61  
Including 124.90 126.00 1.10 0.71 0.01 1 0.04 0.08  
Including 126.00 127.00 1.00 0.64 0.04 1 0.03 0.10  
Including 127.00 127.10 0.10 0.06 15.46 41 8.08 28.34  
KMDD0111 22.43 27.78 5.35 3.16 5.74 2 0.03 5.82  
Including 22.43 22.81 0.38 0.22 5.31 1 0.06 5.41  
Including 22.81 23.42 0.61 0.36 25.25 5 0.05 25.38  
Including 23.42 24.39 0.97 0.57 0.12 1 0.04 0.20  
Including 24.39 25.42 1.03 0.61 0.24 1 0.01 0.27  
Including 25.42 26.00 0.58 0.34 4.04 1 0.02 4.08  
Including 26.00 26.38 0.38 0.22 0.31 1 0.01 0.34  
Including 26.38 26.74 0.36 0.21 2.64 2 0.01 2.68  
Including 26.74 27.54 0.80 0.47 11.47 4 0.05 11.60  
Including 27.54 27.78 0.24 0.14 1.42 1 0.05 1.51  
KMDD0111 31.60 35.09 3.49 2.97 1.93 14 0.17 2.36  
Including 31.60 33.45 1.85 1.57 1.56 10 0.16 1.94  
Including 33.45 34.60 1.15 0.98 0.17 3 0.17 0.46  
Including 34.60 35.09 0.49 0.42 7.46 53 0.19 8.43  
KMDD0111 75.87 80.91 5.04 4.22 3.74 9 0.48 4.58  
Including 75.87 76.05 0.18 0.15 6.55 1 0.02 6.59  
Including 76.05 76.72 0.67 0.56 0.07 2 0.08 0.22  
Including 76.72 77.10 0.38 0.32 0.05 1 0.00 0.07  
Including 77.10 77.88 0.78 0.65 0.52 19 1.40 2.90  
Including 77.88 78.15 0.27 0.23 9.69 3 0.05 9.81  
Including 78.15 78.35 0.20 0.17 0.11 3 0.19 0.44  
Including 78.35 79.14 0.79 0.66 0.46 1 0.14 0.68  
Including 79.14 79.91 0.77 0.64 0.51 2 0.08 0.66  
Including 79.91 80.60 0.69 0.58 0.22 3 0.12 0.44  
Including 80.60 80.91 0.31 0.26 44.00 73 3.04 49.58  
KMDD0111 82.80 90.58 7.78 7.10 6.20 53 0.96 8.35  
Including 82.10 82.80 0.70 0.59 1.26 27 1.56 3.99  
Including 82.80 82.96 0.16 0.13 0.61 15 0.53 1.61  
Including 82.96 83.54 0.58 0.49 3.34 66 0.42 4.83  
Including 83.54 85.00 1.46 1.22 3.87 14 0.38 4.63  
Including 85.00 86.00 1.00 0.84 0.76 6 0.18 1.11  
Including 86.00 87.70 1.70 1.42 2.39 58 2.74 7.32  
Including 87.70 89.20 1.50 1.26 0.08 3 0.32 0.61  
Including 89.20 90.58 1.38 1.15 28.33 187 0.62 31.66  
KMDD0112 26.70 36.60 9.90 7.55 3.15 3 0.14 3.40  
Including 26.70 27.70 1.00 0.76 3.18 2 0.14 3.41  
Including 27.70 29.00 1.30 0.99 0.16 1 0.04 0.24  
Including 29.00 30.00 1.00 0.76 0.12 1 0.01 0.14  
Including 30.00 31.00 1.00 0.76 0.05 1 0.02 0.10  
Including 31.00 32.00 1.00 0.76 0.49 2 0.13 0.71  
Including 32.00 33.00 1.00 0.76 0.56 1 0.25 0.95  
Including 33.00 33.60 0.60 0.46 0.31 1 0.02 0.35  
Including 33.60 34.10 0.50 0.381 0.14 1 0.0118 0.17  
Including 34.10 35.00 0.90 0.686 6.35 8 0.0718 6.56  
Including 35.00 36.00 1.00 0.762 16.8 2 0.1326 17.03  
Including 36.00 36.60 0.60 0.457 6.32 17 0.976 8.03  
KMDD0112 99.20 104.55 5.35 3.80 1.26 14 1.06 3.06  
Including 99.20 100.10 0.90 0.64 2.41 22 1.35 4.75  
Including 100.10 100.56 0.46 0.33 1.14 7 1.13 2.95  
Including 100.56 100.90 0.34 0.24 0.78 3 0.45 1.51  
Including 100.90 102.37 1.47 1.04 2.12 11 0.67 3.29  
Including 102.37 103.44 1.07 0.76 0.17 20 1.21 2.28  
Including 103.44 104.55 1.11 0.79 0.42 13 1.34 2.64  
KMDD0112 109.28 110.22 0.94 0.67 0.81 27 2.52 5.01  
KMDD0113 50.80 53.88 3.08 2.33 35.02 10 0.66 36.16  
Including 50.80 51.85 1.05 0.80 1.02 5 0.40 1.70  
Including 51.85 52.00 0.15 0.11 2.00 14 1.45 4.39  
Including 52.00 52.32 0.32 0.24 11.30 18 3.19 16.41  
Including 52.32 52.80 0.48 0.36 0.47 2 0.18 0.77  
Including 52.80 53.34 0.54 0.41 188.80 30 0.39 189.78  
Including 53.34 53.88 0.54 0.41 1.27 2 0.15 1.53  
KMDD0113 56.80 62.80 6.00 4.55 6.35 6 0.42 7.06  
Including 56.80 57.80 1.00 0.76 11.50 6 0.28 12.01  
Including 57.80 58.30 0.50 0.38 6.71 1 0.08 6.85  
Including 58.30 59.00 0.70 0.53 1.26 7 0.24 1.72  
Including 59.00 59.50 0.50 0.38 6.76 5 0.36 7.37  
Including 59.50 59.90 0.40 0.30 0.56 1 0.03 0.61  
Including 59.90 61.00 1.10 0.83 2.64 5 0.68 3.74  
Including 61.00 61.30 0.30 0.23 0.28 1 0.04 0.35  
Including 61.30 62.10 0.80 0.61 16.00 10 0.84 17.42  
Including 62.10 62.80 0.70 0.53 4.25 7 0.58 5.23  
KMDD0113 64.80 70.00 5.20 3.94 5.21 5 1.02 6.84  
Including 65.60 66.00 0.40 0.30 10.80 9 1.27 12.86  
Including 66.00 66.35 0.35 0.27 10.70 8 1.20 12.64  
Including 66.35 66.75 0.40 0.30 0.08 2 0.26 0.51  
Including 66.75 66.95 0.20 0.15 4.97 6 1.31 7.05  
Including 66.95 68.00 1.05 0.80 0.55 2 0.40 1.19  
Including 68.00 68.18 0.18 0.14 1.24 3 0.64 2.25  
Including 68.18 68.90 0.72 0.55 15.40 8 1.25 17.42  
Including 68.90 69.40 0.50 0.38 4.73 11 3.03 9.51  
Including 69.40 69.77 0.37 0.28 2.86 3 1.92 5.84  
Including 69.77 70.00 0.23 0.17 1.21 1 0.50 1.99  
KMDD0113 74.40 81.10 6.70 5.08 5.16 23 3.61 10.98  
Including 74.40 75.02 0.62 0.47 4.54 5 0.36 5.16  
Including 75.02 75.80 0.78 0.59 16.50 92 13.88 38.90  
Including 75.80 76.37 0.57 0.43 0.29 5 0.21 0.68  
Including 76.37 76.52 0.15 0.11 1.11 17 0.76 2.49  
Including 76.52 77.30 0.78 0.59 1.36 8 0.31 1.93  
Including 77.30 78.60 1.30 0.99 0.69 1 0.03 0.75  
Including 78.60 79.00 0.40 0.30 0.13 1 0.03 0.18  
Including 79.00 79.70 0.70 0.53 21.20 55 6.68 32.12  
Including 79.70 80.10 0.40 0.30 0.63 14 2.91 5.26  
Including 80.10 80.40 0.30 0.23 0.81 18 6.35 10.75  
Including 80.40 81.10 0.70 0.53 1.72 28 6.96 12.72  

Notes:
Gold Equivalent uses Copper price of US$2.90/lb; Silver price of US$16.5/oz and Gold price of US$1300/oz

Table 2 – Kainantu Gold Mine – Collar Locations for Kora Underground Diamond Drilling

Hole_id Collar location Collar orientation EOH depth
(m)
Lode
Local north Local East mRL Dip Local
azimuth
KMDD0103 58815.18 29880.03 1191.47 -52.2 236.2 233.2 Kora North
KMDD0105 58821.39 29880.37 1196.01 60.0 279.2 192.2 Kora North
KMDD0106 58899.10 29868.53 1192.69 37.7 220.0 108.9 Kora North
KMDD0107 59006.20 29876.27 1188.31 -28.7 311.5 130.1 Kora North
KMDD0108 58899.68 29868.92 1190.66 10.5 220.0 130.6 Kora North
KMDD0109 59006.07 29876.49 1191.27 38.9 313.6 96.9 Kora North
KMDD0110 58899.92 29869.07 1189.77 -15.8 221.7 111.2 Kora North
KMDD0110A 58899.92 29869.07 1189.77 -15.8 221.7 133.6 Kora North
KMDD0111 59005.80 29874.55 1188.96 -13.9 296.9 104.5 Kora North
KMDD0112 59005.87 29874.32 1188.05 -34.5 295.7 120.5 Kora North
KMDD0113 58777.68 29849.40 1191.99 12.5 311.3 89.7 Kora North

The mineral resource estimate (shown in Table 3 and Table 4) for the Kora, Kora North and Irumafimpa deposits is based on the technical report prepared in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”), and titled, “Independent Technical Report, Mineral Resources Estimate Update and Preliminary Economic Assessment of Kora North and Kora Gold Deposits, Kainantu Project, Papua New Guinea” with an effective date of September 30, 2018 (the “Technical Report”) prepared by Anthony Woodward BSc (Hons.), M.Sc., MAIG, Simon Tear BSc (Hons), EurGeol, PGeo IGI, EurGeol, Christopher Desoe BE (Min)(Hons), FAusIMM, RPEQ, MMICA, Lisa J. Park, BEng (Chem), GAICD, FAusIMM. Refer to the Company’s news release dated January 8, 2018 for a summary of the results of the PEA.

The Kora North resource estimate was defined after just twelve months of underground exploration drilling.

Table 3 – Kora North Mineral Resource Estimate

Global Mineral Resources Kora North Gold-Copper Mine – October 2018
Category Tonnes Gold Silver Copper AuEq
Mt g/t Mozs g/t Mozs % Mlbs g/t Mozs
Measured 0.15 18.7 0.09 8.9 0.04 0.5 1.6 19.6 0.09
Indicated 0.69 11.6 0.26 14.1 0.31 0.8 11.8 12.9 0.29
Total M & I 0.85 12.9 0.35 13.1 0.36 0.7 13.3 14.1 0.39
Inferred Total 1.92 10.7 0.66 13.3 0.82 0.7 29.5 11.9 0.74

M in table is millions.

Key Assumptions and Parameters

Mineralization comprises two parallel, steeply west dipping, N-S striking quartz-sulphide vein systems, K1 & K2, within an encompassing dilatant structural zone hosted by phyllite.  An additional structure, the Kora Link, has also been defined and provides a possible link between the two main vein systems.

Underground drilling consists of diamond core for a range of core sizes depending on length of hole and expected ground conditions.  Sampling is sawn half core under geological control and generally ranges between 0.5m and 1m.  Underground face sampling is completed for every fired round and is to industry standard.

QAQC data indicated no significant issues with the accuracy of the on-site analysis.

Core recovery of the mineral zone was initially 90%, this has improved to >95%.  There is no relationship between core recovery and gold grade.

Geological logging is consistent and is based on a full set of logging codes covering lithology, alteration and mineralization.

The geological interpretation of the vein systems is represented as 3D wireframe solids snapped to a combination of diamond drillhole data and underground face sampling.  Definition of the wireframes is based on identified gold mineralisation in drillcore nominally at a 0.2g/t Au cut off in conjunction with geological control/sense and current mining widths.

Gold Equivalent (Au Eq) g/t was calculated using the formula Au g/t +(Cu% x 1.53) + Ag g/t x 0.0127. (No account of metal recoveries through the plant have been used in calculating the metal equivalent grade. However, production is currently achieving 93% metal recovery for both gold and copper and gold is currently providing 95% and copper 5% of the total revenue of the mine).

Gold price US$1,300/oz; Silver US$16.5/oz; Copper US$2.90/lb.

Table 4 – Irumafimpa and Kora/Eutompi Resource Estimates

Resource by Deposit and Category
Deposit Resource
Category
Tonnes Gold Silver Copper Gold
Equivalent
Mt g/t Moz g/t Moz % Mlb g/t Moz
Irumafimpa Indicated 0.56 12.8 0.23   9 0.16 0.28 37 13.4 0.24
Inferred 0.53 10.9 0.19   9 0.16 0.27 74 11.5 0.20
Kora/Eutompi Inferred 4.36   7.3 1.02 35  4.9 2.23 215 11.2 1.57
Total Indicated 0.56 12.8 0.23   9 0.16 0.3 4.0 13.4 0.24
Total Inferred 4.89   7.7 1.21 32 5.06 2.0 288 11.2 1.76

M in table is millions.  Reported tonnage and grade figures are rounded from raw estimates to reflect the order of accuracy of the estimate. Minor variations may occur during the addition of rounded numbers. Gold equivalents are calculated as AuEq = Au g/t + Cu%*1.52+ Ag g/t*0.0141.

K92 Mine Geology Manager and Mine Exploration Manager, Mr. Andrew Kohler, PGeo, a qualified person under the meaning of Canadian National Instrument 43-101 Standards for Disclosure of Mineral Projects, has reviewed and is responsible for the technical content of this news release. Data verification by Mr. Kohler includes significant time onsite reviewing drill core, face sampling, underground workings and discussing work programs and results with geology and mining personnel.

On Behalf of the Company,

John Lewins, Chief Executive Officer and Director

for further information, please contact Investor Relations at +1-604-687-7130.

NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION:

This news release includes certain “forward-looking statements” under applicable Canadian securities legislation. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. All statements that address future plans, activities, events, or developments that the Company believes, expects or anticipates will or may occur are forward-looking information, including statements regarding the realization of the preliminary economic analysis for the Project, expectations of future cash flows, the proposed plant expansion, potential expansion of resources and the generation of further drilling results which may or may not occur. Forward-looking statements and information contained herein are based on certain factors and assumptions regarding, among other things, the market price of the Company’s securities, metal prices, exchange rates, taxation, the estimation, timing and amount of future exploration and development, capital and operating costs, the availability of financing, the receipt of regulatory approvals, environmental risks, title disputes, failure of plant, equipment or processes to operate as anticipated, accidents, labour disputes, claims and limitations on insurance coverage and other risks of the mining industry, changes in national and local government regulation of mining operations, and regulations and other matters.. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

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