K92 Mining Announces Latest High-Grade Drill Results From Kora

 In News Releases
  • Drill Hole KMDD0166 records multiple intersections including 7.43 m at 24.52 g/t Au, 4 g/t Ag and 0.35% Cu (25.14 g/t AuEq) plus 3.97 m at 16.55 g/t Au, 5 g/t Ag and 0.34% Cu (17.1743 g/t AuEq)

  • Drill Hole KMDD0168 records multiple intersections including 4.05 m at 20.53 g/t Au, 7 g/t Ag and 0.29% Cu (21.09 g/t AuEq) plus 12.95 m at 20.30 g/t Au, 18 g/t Ag and 0.98% Cu (22.12 g/t AuEq)

  • Drill Hole KMDD0170 records multiple intersections including 9.81 m at 6.15 g/t Au, 7 g/t Ag and 0.19% Cu (6.54 g/t AuEq) plus 5.56 m at 8.09 g/t Au, 22 g/t Ag and 0.02% Cu (8.40 g/t AuEq) plus 8.88 m at 18.98 g/t Au, 17 g/t Ag and 1.55% Cu (21.57 g/t AuEq)

  • Drill Hole KMDD0133 records multiple intersections including 11.93 m at 5.53 g/t Au, 2 g/t Ag and 0.29% Cu (5.99 g/t AuEq) plus 17.48 m at 6.05 g/t Au, 36 g/t Ag and 0.52% Cu (7.31 g/t AuEq) plus 31.43 m at 3.56 g/t Au, 15 g/t Ag and 0.68% Cu (4.80 g/t AuEq)

  • Drill Hole EKDD0002 from surface records multiple intersections including the Judd Vein with 4.70 m at 4.98 g/t Au, 17 g/t Ag and 0.02% Cu (5.22 g/t AuEq) plus Kora – 6.84 m at 2.83 g/t Au, 10 g/t Ag and 0.28% Cu (3.39 g/t AuEq) plus 4.24 m at 1.98 g/t Au, 26 g/t Ag and 1.75% Cu (4.99 g/t AuEq)

VANCOUVER, British Columbia, Sept. 09, 2019 (GLOBE NEWSWIRE) — K92 Mining Inc. (“K92” or the “Company”) (TSX-V: KNT; OTCQX: KNTNF) is pleased to announce results from the continuing diamond drilling of the Kora North Extension of the Kainantu gold mine in Papua New Guinea.

The results for the latest 10 diamond drill holes completed from both surface and underground into the Kora North deposit are summarized in Table 1 below. Long sections of K1 and K2 showing the location of the latest drill holes are provided in Figures 1 and 2 respectively.  The second hole drilled from surface recorded both K1 and K2 intersections as well as the first significant Judd Vein intersection, approximately 500 metres north of the known intersections recorded by the previous owners Highlands Pacific and Barrick Gold Corporation. A plan showing the surface expressions of the Irumafimpa, Kora and Judd Vein Systems is shown in Figure 3.

John Lewins, K92 Chief Executive Officer and Director, stated, “The latest results include the first significant Judd Vein intersection of 4.7 metres at 5.22 g/t AuEq from one of the surface rigs, over 500 metres to the North of the previous intersections reported by Highlands and Barrick. This reinforces the potential of the Judd Vein system, which is located approximately 200 metres to the East of the Kora system and known to have a surface strike length of over 2,000 metres. Other results yet again show the very high continuity of the K1 and K2 lodes with K92 drilling, confirming the vertical extent to be in excess of 1,100 metres with a known strike of over 1,000 metres. These latest results again show that the Kora system remains open both at depth and along strike.”

Table 1 – Kainantu Gold Mine – Significant Intercepts from Diamond Drilling

Hole_idFrom 
(m)
To (m)Interval 
(m)
True 
width 
(m)
Gold g/tSilver 
g/t
 
Copper 
%
 
Gold 
equivalent
Comment
KMDD0127217.60229.3011.704.868.1660.378.84K1
including217.60218.540.940.399.1180.109.38
including218.54219.100.560.2325.6060.2026.00
including219.10219.610.510.210.3910.020.44
including219.61220.861.250.525.7230.065.86
including220.86221.720.860.360.8320.050.93
including221.72223.401.680.7015.3010.0615.41
including223.40223.680.280.120.7220.020.78
including223.68224.600.920.381.9320.142.18
including224.60225.000.400.171.0260.121.29
including225.00226.401.400.585.2150.145.50
including226.40227.601.200.500.9570.051.12
including227.60228.661.060.443.12100.153.49
including228.66229.300.640.2738.50415.1247.38
KMDD0127229.30230.000.700.292.0020.042.10
KMDD0127230.00231.001.000.421.2830.081.44
KMDD0127235.00236.361.360.571.0310.051.12
KMDD0127236.36237.701.340.601.8410.031.90
KMDD0127240.30241.901.600.725.3410.235.74KL
including240.30241.180.880.408.6710.148.91
including241.18241.900.720.321.2620.361.87
KMDD0127247.00248.331.330.601.4220.051.53
KMDD0127250.00251.121.120.521.90100.102.20
KMDD0127253.00264.0011.005.070.61121.072.50K2
including253.00254.001.000.462.78372.216.86
including254.00255.001.000.460.4590.531.43
including255.00256.001.000.461.52190.662.84
including256.00257.001.000.460.2860.330.90
including257.00258.001.000.460.0950.701.30
including258.00259.001.000.460.1290.861.64
including259.00260.001.000.460.1471.372.46
including260.00261.001.000.460.24101.502.82
including261.00262.001.000.460.1970.551.17
including262.00262.900.900.420.1580.541.13
including262.90264.001.100.510.67102.344.61
KMDD0127297.05298.061.010.474.33500.776.24
KMDD016657.4764.97.435.3824.5240.3525.14K1
including57.4757.680.210.150.131.202.09
including57.6858.280.60.430.1610.611.17
including58.2858.960.680.490.3820.531.27
including58.9659.530.570.4156.260.3556.85
including59.5359.840.310.225.3930.646.46
including59.8460.330.490.350.9330.511.79
including60.3360.80.470.34275.8360.93277.79
including60.861.060.260.198.3320.158.61
including61.0661.970.910.663.5510.033.62
including61.9762.830.860.623.4710.013.50
including62.8363.20.370.270.9810.031.04
including63.263.90.70.5111.110.0111.13
including63.964.910.721.5320.412.22
KMDD016671.5975.563.972.9116.5550.3417.17K2
including71.5972.10.510.3719.350.2019.70
including72.172.750.650.481.99101.294.22
including72.7573.30.550.403.8440.094.04
including73.3740.70.5113.940.2314.33
including7474.450.450.3313.220.1413.46
including74.45750.550.402.810.042.88
including7575.30.30.224650.2446.46
including75.375.560.260.1982.570.1482.83
KMDD016682.58830.420.311.31413.6823.78
KMDD01668383.60.60.441.2160.372.01
KMDD016847.5251.574.052.9420.5370.2921.09K1
including47.5247.80.280.2053.5140.1553.93
including47.848.50.70.512.4120.072.55
including48.549.020.520.381.4310.191.75
including49.0249.320.30.225.6850.266.17
including49.3249.980.660.480.56120.812.04
including49.9850.30.320.2351.830.2052.17
including50.350.60.30.2232.520.1132.71
including50.651.570.970.7038.5120.2639.08
KMDD016856.5356.730.20.153.8920.104.07
KMDD016870.8083.7512.958.8220.30180.9822.12K2
including70.871.40.60.4110.3193.5316.30
including71.471.60.20.140.3960.411.14
including71.671.950.350.2426.2817.2339.04
including71.9572.9510.68163481.01165.27
including72.9573.250.30.201421156.67154.37
including73.2573.640.390.2745.6390.8047.42
including73.6474.10.460.318.15471.3911.03
including74.174.770.670.467.45332.2111.48
including74.77750.230.161.1470.391.87
including757610.681.42220.893.15
including767710.680.0520.010.10
including7777.70.70.480.1210.100.29
including77.778.240.540.373.0470.073.25
including78.2478.840.60.410.0820.350.67
including78.8479.50.660.451.680.382.33
including79.580.230.730.500.2330.060.37
including80.2381.20.970.660.1530.260.61
including81.2820.80.540.1520.240.57
including8282.480.480.330.5710.180.87
including82.4883.180.70.4810.150.0710.28
including83.1883.750.570.395.1870.536.13
KMDD0168868710.681.33160.712.70
KMDD017066.8781.1314.269.816.1570.196.54K1
including66.8767.720.850.581.0150.451.77
including67.7268.160.440.300.3140.461.06
including68.1668.540.380.264.39151.216.43
including68.5469.360.820.5645.2180.6246.26
including69.3669.620.260.1812.10310.2612.90
including69.6270.380.760.520.2020.100.38
including70.3870.780.40.280.1110.130.32
including70.7871.40.620.4340.0810.2140.42
including71.472.10.70.480.1410.050.24
including72.172.680.580.400.0910.030.16
including72.6873.550.870.600.0130.010.06
including73.5574.731.180.810.1420.200.47
including74.7375.450.720.500.2320.020.28
including75.4576.060.610.420.1410.010.16
including76.0676.40.340.230.1710.020.21
including76.476.90.50.343.3920.363.97
including76.977.40.50.340.9330.071.07
including77.477.920.520.3614.62120.0714.87
including77.9278.680.760.520.5710.040.64
including78.68790.320.229.9020.0910.06
including7979.450.450.310.2210.060.32
including79.45800.550.380.0720.160.33
including8080.430.430.300.0720.050.17
including80.4381.130.70.488.05750.199.29
KMDD017086.7487.000.260.164.252254.8514.52
KMDD017090.5096.065.563.368.09220.028.40KL
including90.591.430.930.564.72360.095.31
including91.4391.90.470.2878.504740.1784.78
including91.992.730.830.501.0040.021.08
including92.7393.260.530.321.51180.121.92
including93.2693.70.440.270.5460.130.82
including93.794.40.70.420.91150.451.78
including94.495.10.70.420.94130.091.25
including95.196.060.960.580.5830.030.67
KMDD017099.35108.238.885.6518.98171.5521.57K2
including99.351000.650.411.2540.041.35
including100100.70.70.451.8370.072.02
including100.7101.40.70.45118.00420.22118.87
including101.4101.950.550.352.0470.222.46
including101.95102.480.530.343.64321.175.84
including102.48103.20.720.462.39130.593.46
including103.2103.740.540.341.85110.352.52
including103.74104.420.680.433.86110.855.30
including104.42105.050.630.401.205812.1620.54
including105.05105.490.440.2815.46476.6126.17
including105.49105.70.210.132.63151.114.52
including105.7106.520.820.5216.8940.5417.77
including106.52107.230.710.452.7820.032.84
including107.23108.2310.6451.5080.3652.15
KMDD0170116.00118.002.001.278.67100.249.16
KMDD0170121.00121.500.500.321.2530.041.35
KMDD0135193.00203.8710.875.951.9930.092.17K1
including19319410.553.3430.043.44
including19419510.551.4630.031.54
including19519610.551.7730.182.09
including19619710.554.2030.094.37
including197197.70.70.380.6450.150.93
including197.7199.151.450.790.0920.150.35
including199.15200.871.720.940.1230.080.28
including200.87201.60.730.404.1410.034.20
including201.6202.50.90.490.5430.010.60
including202.5202.80.30.162.4920.012.53
including202.8203.180.380.210.3510.010.37
including203.18203.870.690.388.1840.268.62
KMDD0135329.30330.130.830.492.54100.022.70
KMDD0135334.66338.603.942.330.1340.250.57K2
including334.66335.50.840.500.0791.071.83
including335.5336.811.310.780.1010.020.14
including336.81337.770.960.570.0820.010.12
including337.77338.60.830.490.3080.060.49
KMDD017270.4074.554.152.007.3660.898.80K1
including70.4071.401.000.486.4682.3810.20
including71.472.230.830.401.0780.872.50
including72.2372.680.450.222.2680.443.04
including72.6873.550.870.420.7640.201.12
including73.5574.551.000.4821.5230.2121.88
KMDD017287.4291.003.583.741.10130.522.06K2
including87.42880.580.470.17133.305.38
including888910.820.0710.100.24
including8989.50.50.410.50110.110.81
including89.5900.50.410.1820.020.23
including909110.823.49410.184.29
KMDD0172100.80101.801.000.821.0230.131.26
KMDD0133215.55216.160.610.253.58162.517.62
KMDD0133268.74269.440.700.291.3450.171.66
KMDD0133280.83282.121.290.532.7072.296.28
including280.83281.440.610.251.0110.461.72
including281.44282.120.680.284.21123.9310.38
KMDD0133286.00287.001.000.411.4710.051.56
KMDD0133293.30305.2311.934.945.5320.295.99K1
including293.3294.260.960.400.5010.050.58
including294.26294.50.240.105.7220.386.33
including294.5294.840.340.144.4641.086.17
including294.84295.60.760.3136.1040.3936.75
including295.6296.550.950.3920.8030.3521.38
including296.55297.130.580.242.8010.143.02
including297.132980.870.360.2010.170.48
including29829910.411.7810.262.19
including299299.680.680.280.1310.460.84
including299.68300.420.740.310.4110.381.01
including300.423010.580.240.1410.420.79
including30130210.410.0410.040.12
including302302.450.450.190.1510.500.93
including302.45303.10.650.270.1310.450.83
including303.1303.220.120.0561.9070.2562.37
including303.223040.780.320.0810.120.28
including304304.80.80.330.3810.300.85
including304.8305.230.430.187.8110.087.94
KMDD0133306.42323.9017.4813.356.05360.527.31KL
Including 306.42306.80.380.295.36370.606.75
Including 306.8309.22.41.835.13820.797.38
Including 309.23100.80.616.16690.788.23
Including 31031110.762.89660.654.72
Including 311312.21.20.921.15521.964.81
Including 312.2313.210.760.9370.732.14
Including 313.23140.80.6128.3030.2428.71
Including 314314.60.60.460.2510.310.74
Including 314.6314.80.20.150.1110.110.28
Including 314.8315.20.40.311.5610.201.87
Including 315.2315.60.40.3175.40280.3276.25
Including 315.63160.40.310.3710.130.59
Including 31631710.760.0910.150.33
Including 317317.80.80.610.0910.190.40
Including 317.8318.690.890.680.2840.370.89
Including 318.693190.310.240.50110.371.21
Including 31932010.760.6780.070.88
Including 320320.50.50.380.7490.151.09
Including 320.5320.720.220.170.56140.160.98
Including 320.72321.91.180.900.62110.110.93
Including 321.9322.70.80.6110.761730.7414.08
Including 322.7323.370.670.5123.31410.4324.48
Including 323.37323.90.530.401.72130.122.07
KMDD0133328.57360.0031.4310.703.56150.684.80K2
Including328.57329.20.630.215.06320.686.50
Including329.23300.80.270.5440.200.89
Including33033110.341.69220.642.95
Including33133210.340.2340.320.77
Including33233310.341.26181.153.25
Including333333.850.850.290.1210.080.26
Including333.85334.650.80.270.0810.100.25
Including334.653361.350.460.7310.140.96
Including33633710.342.3410.172.61
Including33733810.344.79182.038.12
Including33833910.340.5130.180.82
Including339340.21.20.411.2481.002.87
Including340.2341.281.080.373.28292.918.10
Including341.28342.51.220.420.6930.221.06
Including342.53430.50.170.81180.231.39
Including343344.521.520.524.01750.545.78
Including344.523461.480.5023.38570.4624.81
Including34634710.344.62160.735.94
Including34734810.340.5320.371.12
Including34834910.340.29160.491.24
Including34935010.340.0810.130.29
Including350351.41.40.485.0221.026.61
Including351.4352.410.3430.02332.6434.48
Including352.4353.81.40.480.2940.270.75
Including353.8354.70.90.311.74121.223.77
Including354.7356.21.50.510.7090.932.24
Including356.2357.210.340.6360.371.28
Including357.23580.80.271.30120.261.84
Including35835910.340.81140.281.41
Including35936010.341.28110.201.73
KMDD0133A334.00359.1025.108.554.27220.645.53K2
Including334334.20.20.071.49351.203.77
Including334.2334.80.60.200.80220.231.43
Including334.8335.20.40.141.1670.231.61
Including335.2335.850.650.221.10230.331.89
Including335.85336.30.450.150.70150.341.41
Including336.33370.70.240.96270.351.84
Including337337.70.70.2410.101210.8112.88
Including337.7338.40.70.243.09370.263.95
Including338.43390.60.200.62120.130.97
Including33934010.340.4450.050.58
Including34034110.340.46100.341.11
Including34134210.340.1310.080.26
Including34234310.340.1220.060.24
Including343343.820.820.280.2240.040.34
Including343.82344.20.380.1310.901100.4112.92
Including344.23450.80.270.4190.180.80
Including345345.20.20.070.1920.030.27
Including345.2345.530.330.1116.501250.2618.49
Including345.53345.90.370.131.99160.322.69
Including345.9346.60.70.2461.30340.7862.93
Including346.6347.250.650.2213.30401.3015.80
Including347.253480.750.260.1310.140.36
Including34834910.340.2550.230.67
Including34935010.340.1550.240.58
Including350350.920.920.310.1760.360.80
Including350.92351.20.280.100.5320.331.07
Including351.2351.80.60.209.4651.9312.48
Including351.8352.350.550.1915.9056.1025.30
Including352.35353.250.90.310.44530.341.63
Including353.25354.150.90.311.23100.351.89
Including354.15354.60.450.159.71383.8116.02
Including354.6355.50.90.311.2090.782.51
Including355.5356.170.670.233.99372.888.87
Including356.17356.80.630.210.46130.611.56
Including356.8357.30.50.172.82150.243.38
Including357.3359.11.80.612.47290.403.45
KMDD0174108.08111.803.721.924.0110.104.19K1
including108.08108.650.570.296.1610.046.23
including108.65109.160.510.2614.5020.1614.78
including109.16109.620.460.240.2610.040.33
including109.62110.50.880.451.0710.281.51
including110.5110.80.30.167.6530.047.75
KMDD0174139.50144.304.804.423.8620.214.20KL
including139.5140.510.9212.5010.1012.66
including140.5141.510.921.3110.051.40
including141.51420.50.462.4220.132.64
including142142.270.270.256.7220.197.04
including142.27143.31.030.950.6650.481.45
including143.3144.310.921.0110.231.38
KMDD0174159.80163.904.102.305.01180.806.47K2
including159.8160.420.620.280.7580.060.95
including160.42161.4210.4522.50402.1826.34
including161.42161.90.480.221.08150.552.11
including161.9162.910.450.11270.280.88
including162.9163.910.451.0870.501.93
including163.9164.910.450.8660.852.23
EKDD0002131.30136.004.704.234.98170.025.22Judd
EKDD0002131.30133.001.701.531.5610.021.61
Including131.30131.500.200.182.8020.042.89
Including131.50133.001.501.351.4010.021.44
EKDD0002133.00134.301.301.260.2510.010.28
EKDD0002134.30136.001.701.4412.75490.0113.38
Including134.40134.790.390.3546.301960.0348.83
Including134.79136.001.211.091.9310.011.95
EKDD0002253.96260.806.846.162.83100.283.39K1
Including253.96254.400.440.400.85190.561.94
Including254.40255.501.100.991.3310.031.39
Including255.50256.160.660.592.1140.102.32
Including256.16257.000.840.760.74150.531.73
Including257.00257.470.470.420.65150.351.37
Including257.47258.230.760.680.7690.121.05
Including258.23259.000.770.690.92110.251.45
Including259.00259.200.200.180.4460.230.87
Including259.20260.801.601.448.64120.419.42
EKDD0002284.80301.2616.4614.810.7250.361.34KL
EKDD0002284.80287.752.952.652.53140.373.56
Including284.80285.600.800.729.34280.2110.01
Including285.60286.500.900.810.2440.180.57
Including286.50286.950.450.400.2580.350.89
Including286.95287.750.800.720.63130.751.94
EKDD0002287.75288.660.910.820.1810.050.27
EKDD0002288.66290.521.861.670.1810.050.27
EKDD0002290.52292.001.481.330.0710.010.09
EKDD0002292.00293.961.961.760.1470.981.72
Including292.00293.601.601.440.0820.050.18
Including293.60293.960.360.320.38285.128.57
EKDD0002293.96297.703.743.370.0410.010.01
EKDD0002297.70301.263.563.200.7440.781.98
Including297.70299.101.401.260.0720.160.34
Including299.10299.470.370.332.64112.576.71
Including299.47299.670.200.182.80112.536.80
Including299.67299.950.280.252.96102.496.90
Including299.95301.261.311.180.1220.300.61
EKDD0002322.40331.108.707.831.20141.133.11K2
EKDD0002322.40326.644.243.821.98261.754.99
Including322.40323.340.940.853.10242.817.70
Including323.34324.000.660.593.31943.159.32
Including324.00324.400.400.362.92191.245.06
Including324.40325.150.750.681.66121.343.87
Including325.15325.950.800.720.6780.812.00
Including325.95326.640.690.620.5030.821.80
EKDD0002326.64327.100.460.410.2010.240.58
EKDD0002327.10327.400.300.270.2610.240.64
EKDD0002327.40329.371.971.770.3810.110.56
EKDD0002329.37330.751.381.240.1910.060.30
EKDD0002330.75331.100.350.322.58165.5811.32
EKDD0002339.70342.773.072.760.3270.901.80K2HW
Including339.70340.200.500.450.1230.280.59
Including340.20341.100.900.810.1110.070.23
Including341.10341.700.600.541.01180.922.64
Including341.70341.900.200.180.0820.180.39
Including341.90342.100.200.180.18315.749.36
Including342.10342.770.670.600.2541.252.21

 (1) Gold Equivalent uses copper price of US$2.90/lb; silver price of US$16.5/oz and gold price of US$1,300/oz

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

Hole_idCollar locationCollar orientationEOH 
depth (m)
Lode
Local 
north
Local EastmRLDipLocal 
azimuth
KMDD012758928.2629936.081210.87-54.3246.5316.6Kora North
KMDD016658883.4229869.571208.842.1239.589.9Kora North
KMDD016858902.1529870.581188.7037.0319.0127.2Kora North
KMDD017058901.3429868.941189.56-41.1245.2125Kora North
KMDD013559042.0129951.581194.66-59.8300.2419.1Kora North
EKDD000158951.7530074.961872.42-56.5258.5525.2Kora North
KMDD017258901.1929868.641194.4657.5243.2109.4Kora North
KMDD013358927.4829934.971210.87-39.9218.7373.1Kora North
KMDD0133A58927.4829934.971210.87-39.9218.7437.2Kora North
KMDD017458900.8529868.971189.57-48.6230.3268.5Kora North
EKDD0000259205.0029992.001779.50-64.3240.5382.4Kora 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 and details of the resource estimate.


Table 3 – Kora North Mineral Resource Estimate

Global Mineral Resources Kora North Gold-Copper Mine – October 2018
CategoryTonnesGoldSilverCopperAuEq
Mtg/tMozsg/tMozs%Mlbsg/tMozs
Measured0.1518.70.098.90.040.51.619.60.09
Indicated0.6911.60.2614.10.310.811.812.90.29
Total M & I0.8512.90.3513.10.360.713.314.10.39
Inferred Total1.9210.70.6613.30.820.729.511.90.74
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 0.2 g/t Au cut off in conjunction with geological control/sense and current mining widths.

Gold equivalent (AuEq) 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
DepositResource 
Category
TonnesGoldSilverCopperGold
Equivalent
Mtg/tMozg/tMoz%Mlbg/tMoz
IrumafimpaIndicated0.5612.80.2390.160.283713.40.24
Inferred0.5310.90.1990.160.277411.50.20
Kora/EutompiInferred4.367.31.02354.92.2321511.21.57
Total Indicated0.5612.80.2390.160.34.013.40.24
Total Inferred4.897.71.21325.062.028811.21.76


Notes:

  • 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 NI 43-101, has reviewed and is responsible for the technical content of this news release.

About K92

K92 Mining Inc. is engaged in the production of gold, copper and silver from the Kora and Kora North deposits of 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 has commenced an expansion of the mine.  An updated Preliminary Economic Assessment on the property was published in January 2019. K92 is operated by a team of mining company professionals with extensive international mine-building experience.

ON BEHALF OF THE COMPANY,

John Lewins, Chief Executive Officer and Director

For further information, please contact David Medilek 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 Kainantu Gold Mine, expectations of future cash flows, the ongoing 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, changes in government regulations 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.

Figure 1 – K1 Long Section
https://www.globenewswire.com/NewsRoom/AttachmentNg/49dc37c2-035d-4402-8436-092979921a6b

Figure 2 – K2 Long Section
https://www.globenewswire.com/NewsRoom/AttachmentNg/83032c84-1166-489b-b1cf-9a867c853b72

Figure 3 – Plan Showing Irumafimpa, Kora and Judd Vein Systems
https://www.globenewswire.com/NewsRoom/AttachmentNg/aeb34b83-4e75-4116-ad2c-ee3aa3ab40c0

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