K92 news highlights production ramp up and exploration commencement
By Kevin Silva
K92 Mining Inc. (K92) (TSX.V: KNT) came to trade just over one year ago, and from the start K92 has described restarting production at the Irumafimpa Deposit as the top priority. Now, with production going well, the company has started to talk about the exploration and expansion blue sky that has excited the technical team since they first stepped foot on the 400 sq km project.
The company put out news on August 3rd talking about these latest developments.
K92 has, up until recently, been mining material from development areas. Now, K92 is also mining from production stopes where higher gold and copper grades are anticipated.
K92 Chief Executive Officer, Ian Stalker, explains, “Moving from mining development material into stope material is a major positive for our Irumafimpa mining operation. With mining and processing going well, and with the production ramp up progressing, shareholders can also look forward to the commencement of exploration drilling to follow up on the recent Kora extension discovery hole. The combination of production, alongside of exploration targeting high impact expansion and discovery, will provide significant news flow in the coming weeks and months.”
Based on the recent high-grade discovery of the Kora Deposit extension, the design of the Kora Exploration Drive has been enhanced to incorporate the development of a footwall drive approximately 50 metres from the projected strike of the Kora Vein System. This modification allows the development of drill cuddies approximately 100 metres closer to the interpreted position of the Kora Vein System than previously planned, based on the results from diamond drill hole KMDD0009, which recorded an intersection of 5.4 metres @ 11.68 g/t Au, 25.5 g/t Ag and 1.33 % Cu from 154 metres downhole, interpreted to be the discovery of an extension of the Kora deposit (see K92 News Release May 24, 2017 for drill result details). Exploration drilling following up on this discovery hole is expected to commence in August.
K92 President, Bryan Slusarchuk, states “We’ve always said since purchasing this project from Barrick Gold, that once production was well underway, we would start to target exploration potential. While the production profile at Irumafimpa can be very important for a company like K92, we all know that Barrick owned this project for much more than that. They owned it for what we view as world-class exploration potential both in the high-grade Kora-Irumafimpa-Judd intrusive vein environment, and also regionally for porphyry potential. Chief Operating Officer John Lewins and the team onsite have done a great job on the production re-start, to the point that now investors can start to get excited about what’s next.”
Guiding the exploration mandate as K92 Exploration Manager is a man with an enviable track record of exploration success in Papua New Guinea, Chris Muller, PhD.
Mr. Muller has extensive international mining experience, including a decade of experience in PNG. His ten years of experience in PNG includes four years with the Morobe Mining Joint Venture (Newcrest Mining/Harmony Gold) as Geology Manager/Principal Geologist, working on the Wafi-Golpu Project, where he led the Nambonga Porphyry and Golpu West/Golpu Deeps discovery team.
Mr. Muller has a PhD in Tectonics/Biogeography of the Indo-Pacific, using Rhopaloceran genetics and a High First Class honours degree from the Centre of Ore Deposit Research, University of Tasmania, and a Bachelor of Science degree from Macquarie University.
After a very busy period onsite, the company anticipates a lot of news flow as production ramps up and exploration drilling commences along the underground drive.