i-80 Gold Corp. press release
K92 Mining Announces Latest Drilling Results From Arakompa Including Confirmation of Two Significant Thick High-Grade Veins (AR1 & AR2), Southern Strike Extension and Bulk Zone Expansion
TSX - Toronto Stock Exchange · Gold · Silver · United States
VANCOUVER, British Columbia, Feb. 20, 2025 (GLOBE NEWSWIRE) -- K92 Mining Inc . (“ K92 ” or the “ Company ”) (TSX : KNT; OTCQX : KNTNF) is pleased to announce its fourth set of drilling results consisting of 13 holes for total results of 43 holes released to date from its maiden surface diamond drill program at Arakompa, located approximately 4.5 km from the Kainantu Gold Mine Process Plant in Papua New Guinea. K92’s maiden drill program at Arakompa represents the first drilling on the target in 32 years, with limited historic drilling completed, comprising 18 holes totaling 1.8 km of mostly shallow drilling.
Two significant high-grade sub-parallel veins confirmed, named AR1 and AR2 (See Figures 5 and 6 for Long Sections). Drilling to date has defined AR1 and AR2 to a depth of over 500 metres and at significant strike lengths of approximately 675 and 775 metres, respectively. Both veins are open in multiple directions, recording a substantial average true thickness from drilling to date of 3.14 metres for AR1 and 2.94 metres for AR2, and a strong high-grade hit-rate at +5 g/t AuEq of 50% for AR1 and 42% for AR2, and +10g/t AuEq of 28% for AR1 and 21% for AR2. The latest drilling results recorded multiple high-grade intersections, including: AR1 Vein: KARDD0033: 11.10 m at 5.93 g/t AuEq (5.37 g/t Au, 8 g/t Ag, 0.29% Cu), including 3.30 m at 11.15 g/t AuEq (10.92 g/t Au, 3 g/t Ag, 0.12% Cu) KARDD0035 : 11.10 m at 4.93 g/t AuEq (4.50 g/t Au, 10 g/t Ag, 0.19% Cu), including 1.70 m at 13.04 g/t AuEq (12.55 g/t Au, 15 g/t Ag, 0.19% Cu) KARDD0042: 2.60 m at 11.91 g/t AuEq (9.06 g/t Au, 41 g/t Ag, 1.48% Cu) KARDD0037: 9.60 m at 3.60 g/t AuEq (2.69 g/t Au, 11 g/t Ag, 0.49% Cu), including 1.30 m at 10.49 g/t AuEq (7.92 g/t Au, 24 g/t Ag, 1.46 % Cu) KARDD0043: 5.10 m at 5.67 g/t AuEq (5.38 g/t Au, 13 g/t Ag, 0.07% Cu) KARDD0039: 2.30 m at 9.00 g/t AuEq (7.55 g/t Au, 23 g/t Ag, 0.74% Cu) KARDD0040: 3.00 m at 5.03 g/t AuEq (4.78 g/t Au, 6 g/t Ag, 0.10% Cu)
AR1 highlight intersections from previous releases include: KARDD0011: 3.70 m at 42.35 g/t AuEq (40.84 g/t Au, 17 g/t Ag, 0.82% Cu) KARDD0002: 7.20 m at 24.76 g/t AuEq (24.44 g/t Au, 13 g/t Ag, 0.10% Cu) KARDD0029: 20.60 m at 9.87 g/t AuEq (8.90 g/t Au, 29 g/t Ag, 0.38% Cu) KARDD0025: 12.00 m at 11.16 g/t AuEq (10.49 g/t Au, 11 g/t Ag, 0.33% Cu)
AR2 Vein: KARDD0038: 14.50 m at 17.33 g/t AuEq (17.17 g/t Au, 4 g/t Ag, 0.07% Cu), including 6.90 m at 34.99 g/t AuEq (34.73 g/t Au, 7 g/t Ag, 0.11% Cu) KARDD0044: 12.00 m at 5.26 g/t AuEq (5.18 g/t Au, 2 g/t Ag, 0.03% Cu), including 3.40 m at 10.01 g/t AuEq (9.91 g/t Au, 2 g/t Ag, 0.05% Cu)
AR2 highlight intersections from previous releases include: KARDD0009: 6.70 m at 14.35 g/t AuEq (14.19 g/t Au, 9 g/t Ag, 0.03% Cu) KARDD0004: 11.20 m at 5.89 g/t AuEq (5.64 g/t Au, 6 g/t Ag, 0.11% Cu) KARDD0003: 8.50 m at 7.48 g/t AuEq (7.23 g/t Au, 12 g/t Ag, 0.06% Cu) 016AD92: 6.30 m at 14.69 g/t AuEq (12.77 g/t Au, 24 g/t Ag, 1.02% Cu) KARDD0023: 2.0 m at 14.60 g/t AuEq (12.44 g/t Au, 60 g/t Ag, 0.88% Cu)
KARDD0025: 2.9 m at 11.47 g/t AuEq (11.26 g/t Au, 9 g/t Ag, 0.06% Cu)
Latest drilling results have extended the interpreted bulk tonnage zone approximately 150 metres to the south, with the zone now defined 900 metres along strike and to a vertical depth of 650 metres. Drill results to date have recorded an average true thickness of 48 metres, demonstrating strong bulk mining potential. The bulk zone remains open in multiple directions. Latest drilling result highlights: KARDD0038: 65.00 m at 4.15 g/t AuEq (4.04 g/t Au, 3 g/t Ag, 0.05% Cu) KARDD0035 : 85.30 m at 1.19 g/t AuEq (1.00 g/t Au, 4 g/t Ag, 0.08% Cu), including 29.90 m at 2.49 g/t AuEq (2.09 g/t Au, 7 g/t Ag, 0.20% Cu) KARDD0042: 50.40 m at 1.90 g/t AuEq (1.58 g/t Au, 6 g/t Ag, 0.15% Cu) KARDD0033: 57.70 m at 1.44 g/t AuEq (1.28 g/t Au, 3 g/t Ag, 0.08% Cu) KARDD0044: 59.20 m at 1.27 g/t AuEq (1.21 g/t Au, 2 g/t Ag, 0.02% Cu) KARDD0037: 56.20 m at 1.28 g/t AuEq (0.96 g/t Au, 7 g/t Ag, 0.15% Cu) KARDD0043: 40.50 m at 1.28 g/t AuEq (1.20 g/t Au, 3 g/t Ag, 0.03% Cu) KARDD0036 (~100 m southern step-out along strike): 47.70 m at 1.02 g/t AuEq (0.74 g/t Au, 4 g/t Ag, 0.14% Cu) KARDD0039 (~150 m southern step-out along strike): 33.50 m at 1.06 g/t AuEq (0.85 g/t Au, 5 g/t Ag, 0.09% Cu)
Given the strong results to date and the potential to delineate additional high-grade veins beyond AR1 and AR2 with increased drill density, the Company aims to deliver a maiden mineral resource estimate for Arakompa by mid-2025.
Notes: (1) Drill highlights presented above are core lengths (not true widths). (2) Gold equivalent (AuEq) exploration results are calculated using longer-term commodity prices with a copper price of US$4.50/lb, a silver price of US$27.5/oz and a gold price of US$2,000/oz.
John Lewins, K92 Chief Executive Officer and Director, stated, “The Arakompa maiden drill program continues to make significant progress, with the latest results delivering multiple positives including a 20% increase in bulk zone strike length to ~900 metres, and the delineation of two major subparallel veins over significant strike, AR1 and AR2. Importantly, both AR1 and AR2 are high-grade and have recorded considerable thickness and strong observed continuity, demonstrating high potential for underground mining.
With just over half of the +1.7 km-strike-length mineralized corridor drill tested to date, alongside the significant potential at depth, we believe that we are only beginning to unlock Arakompa’s full potential. Notably, a new compact heli-portable rig is scheduled to arrive at site in mid-2025, significantly enhancing our ability to efficiently target the northern extension of Arakompa, effectively opening up a new front for exploration.
We look forward to continuing to ramp-up exploration activities and provide updates in due course.”
Arakompa Vein System Background
The Arakompa project is interpreted to be an intrusive related gold-copper-silver epithermal vein system with similarities to the producing Kora and Judd vein systems. A significant difference at Arakompa is that it is hosted in tonalite to dioritic rock, whereas Kora and Judd are hosted predominantly in metasediments (phyllite).
Mineralization at Arakompa is in pronounced vein lodes but is also widespread across a very broad envelope, hosted in strongly altered tonalite and diorite. This has been interpreted to have resulted from collapsing argillic and advanced argillic alteration, and the propylitic alteration of the basement tonalite are interpreted to originate from the intrusion of a large magmatic porphyry body. Phyllic alternation appears to be associated with gold mineralization, providing a large halo (at least 100 m wide) around the vein corridor. There has likely been an upwelling of phyllic alteration from the porphyry into the high-grade veins. This has resulted in mineralization between the veins, providing the potential for bulk mining.
Multi-stage mineralizing events with several phases of quartz-sulphide development are apparent within the veins themselves. The sequence of early quartz deposited from a mesothermal dilute fluid followed by pyrite-copper-gold ± Bi-Te-Pb-Zn-Sn mineralization at Arakompa has many similarities to the same events encountered at Kora and Judd.
The main sulphides are pyrite, chalcopyrite, bornite and bismuthinite. As at Kora, chalcopyrite forms late, overprinting early phases of pyrite. Gold is documented in petrological reports and shown in photomicrographs as occurring in quartz, or often as inclusions overgrown by chalcopyrite.
Porphyry evidence is widespread at Arakompa. Localized, high-level B veins (quartz with centreline pyrite) are present, typical of the upper parts of a porphyry system. Magnetite-epidote alteration represents classic prograde porphyry assemblages, indicative of the inner propylitic shell. Chalcocite is also locally present, suggesting an underlying copper-enriched body.
The maiden drill program by K92 is the first drilling completed on the target in 32 years, with limited and shallow drilling completed historically (18 holes, 1,766 m drilled). Of the 18 holes drilled historically, there were 15 intersections above 5 g/t AuEq, 8 intersections above 10 g/t AuEq and 3 intersections above 20 g/t AuEq, with highlights including:
004DA92 – 4.00 m at 32.03 g/t AuEq (3.32 m true thickness) 013AD92 – 4.00 m at 20.21 g/t AuEq (3.40 m true thickness) 001AD92 – 2.80 m at 16.18 g/t AuEq (2.41 m true thickness) 005AD92 – 2.00 m at 32.01 g/t AuEq (1.26 m true thickness) 016AD92 – 6.30 m at 14.96 g/t AuEq (2.39 m true thickness) 010AD92 – 9.20 m at 10.67 g/t AuEq (4.32 m true thickness)
Surface field work completed historically and by K92 has demonstrated that the target size of Arakompa is significant, with mineralization observed from drill holes, rock samples and surface workings for at least 1.7 km of strike, hosted within an approximately 150- to 225-m-wide mineralized intense phyllic altered package, and a vertical extent of over 500 m.
Figures
A plan map for Arakompa is provided in Figure 1 . A cross section showing KARDD0038 at Arakompa is provided in Figure 2 . A cross section showing KARDD0040 and KARDD0042 at Arakompa is provided in Figure 3 . A long section showing Arakompa drilling to date and bulk samples is provided in Figure 4 . Long sections of AR1 and AR2 Veins showing the location of the latest drill holes are provided in Figures 5 and 6 , respectively. A location map is provided in Figure 7 . Core photograph of drill hole KARDD0038 provided in Figures 8 .
| | | | | | | | | | | | Table 1 Kainantu Gold Mine – Significant Intercepts from Arakompa Diamond Drilling | | | | | | | | | | | | | | | | | | | | | | Hole ID | From (m) | To (m) | Interval (m) | True width (m) | Gold g/t | Silver g/t | Copper % | Gold Eq | Vein | | KARDD0031 | 132.20 | 144.00 | 11.80 | 7.08 | 1.48 | 2 | 0.03 | 1.56 | Bulk Intersection | | KARDD0031 | 0.00 | 4.00 | 4.00 | 2.40 | 1.11 | 2 | 0.03 | 1.18 | | | KARDD0031 | 195.00 | 197.20 | 2.20 | 1.32 | 1.77 | 2 | 0.02 | 1.83 | AR1 | | KARDD0031 | 133.00 | 136.50 | 3.50 | 2.10 | 3.15 | 4 | 0.03 | 3.25 | AR2 | | KARDD0031 | 141.40 | 143.00 | 1.60 | 0.96 | 2.26 | 2 | 0.02 | 2.31 | | | KARDD0032 | 93.10 | 107.60 | 14.50 | 10.15 | 0.53 | 6 | 0.09 | 0.75 | Bulk Intersection | | KARDD0032 | 65.20 | 66.70 | 1.50 | 1.05 | 3.45 | 5 | 0.01 | 3.54 | AR2 | | KARDD0032 | 93.10 | 94.50 | 1.40 | 0.98 | 1.93 | 21 | 0.61 | 3.15 | AR1 | | KARDD0033 | 295.60 | 353.30 | 57.70 | 34.62 | 1.28 | 3 | 0.08 | 1.44 | Bulk Intersection | | KARDD0033 | 53.00 | 63.30 | 10.30 | 6.18 | 2.53 | 41 | 0.13 | 3.29 | | | KARDD0033 | 206.65 | 209.50 | 2.85 | 1.71 | 1.24 | 5 | 0.07 | 1.41 | | | KARDD0033 | 295.60 | 298.30 | 2.70 | 1.62 | 1.40 | 6 | 0.10 | 1.64 | | | KARDD0033 | 332.60 | 343.70 | 11.10 | 6.66 | 5.37 | 8 | 0.29 | 5.93 | AR1 | | including | 332.60 | 335.90 | 3.30 | 1.98 | 10.92 | 3 | 0.12 | 11.15 | AR1 | | KARDD0033 | 351.50 | 353.30 | 1.80 | 1.08 | 1.02 | 1 | 0.15 | 1.26 | AR2 | | KARDD0033 | 407.00 | 410.70 | 3.70 | 2.22 | 3.40 | 3 | 0.13 | 3.65 | | | KARDD0034 | 0.00 | 107.50 | 107.50 | 64.50 | 0.27 | 1 | 0.01 | 0.30 | Bulk Intersection | | KARDD0034 | 608.80 | 682.70 | 73.90 | 44.34 | 0.23 | 3 | 0.06 | 0.36 | Bulk Intersection | | KARDD0034 | 334.40 | 336.00 | 1.60 | 0.96 | 1.83 | 27 | 1.25 | 4.13 | | | KARDD0034 | 608.80 | 611.00 | 2.20 | 1.32 | 1.31 | 8 | 0.20 | 1.73 | AR1 | | KARDD0034 | 818.00 | 823.40 | 5.40 | 3.24 | 0.70 | 29 | 0.25 | 1.49 | | | KARDD0035 | 58.50 | 143.80 | 85.30 | 59.71 | 1.00 | 4 | 0.08 | 1.19 | Bulk Intersection | | including | 93.20 | 123.10 | 29.90 | 20.93 | 2.09 | 7 | 0.20 | 2.49 | Bulk Intersection | | KARDD0035 | 58.50 | 62.00 | 3.50 | 2.45 | 3.05 | 3 | 0.05 | 3.16 | | | KARDD0035 | 93.20 | 94.20 | 1.00 | 0.70 | 1.00 | 48 | 2.72 | 5.85 | AR2 | | KARDD0035 | 112.00 | 123.10 | 11.10 | 7.77 | 4.50 | 10 | 0.19 | 4.93 | AR1 | | including | 120.00 | 121.70 | 1.70 | 1.19 | 12.55 | 15 | 0.19 | 13.04 | AR1 | | KARDD0035 | 140.00 | 143.80 | 3.80 | 2.66 | 1.08 | 21 | 0.11 | 1.54 | | | KARDD0036 | 158.30 | 206.00 | 47.70 | 28.62 | 0.74 | 4 | 0.14 | 1.02 | Bulk Intersection | | KARDD0036 | 345.00 | 359.70 | 14.70 | 8.82 | 0.82 | 11 | 0.11 | 1.14 | Bulk Intersection | | KARDD0036 | 158.30 | 165.20 | 6.90 | 4.14 | 2.43 | 11 | 0.31 | 3.05 | | | KARDD0036 | 179.20 | 181.10 | 1.90 | 1.14 | 3.37 | 11 | 0.28 | 3.95 | | | KARDD0036 | 184.60 | 186.60 | 2.00 | 1.20 | 0.94 | 5 | 0.27 | 1.43 | | | KARDD0036 | 203.70 | 206.00 | 2.30 | 1.38 | 2.16 | 18 | 1.04 | 4.00 | AR1 | | KARDD0036 | 345.00 | 348.40 | 3.40 | 2.04 | 2.38 | 35 | 0.38 | 3.44 | | | KARDD0037 | 96.30 | 117.20 | 20.90 | 12.54 | 1.08 | 2 | 0.04 | 1.17 | Bulk Intersection | | KARDD0037 | 177.00 | 233.20 | 56.20 | 33.72 | 0.96 | 7 | 0.15 | 1.28 | Bulk Intersection | | KARDD0037 | 96.30 | 100.20 | 3.90 | 2.34 | 2.08 | 2 | 0.02 | 2.14 | | | KARDD0037 | 110.50 | 112.10 | 1.60 | 0.96 | 6.44 | 9 | 0.07 | 6.67 | AR2 | | KARDD0037 | 177.00 | 179.50 | 2.50 | 1.50 | 1.73 | 8 | 0.24 | 2.21 | | | KARDD0037 | 182.50 | 192.10 | 9.60 | 5.76 | 2.69 | 11 | 0.49 | 3.60 | AR1 | | including | 185.10 | 187.40 | 2.30 | 1.38 | 7.92 | 24 | 1.46 | 10.49 | AR1 | | KARDD0037 | 211.40 | 214.60 | 3.20 | 1.92 | 2.01 | 17 | 0.17 | 2.50 | | | KARDD0037 | 228.00 | 231.20 | 3.20 | 1.92 | 2.03 | 31 | 0.39 | 3.06 | | | KARDD0038 | 304.60 | 369.60 | 65.00 | 41.60 | 4.04 | 3 | 0.05 | 4.15 | Bulk Intersection | | KARDD0038 | 51.60 | 53.80 | 2.20 | 1.41 | 6.43 | 17 | 0.13 | 6.86 | | | KARDD0038 | 311.00 | 313.60 | 2.60 | 1.66 | 3.44 | 20 | 0.32 | 4.20 | AR1 | | KARDD0038 | 355.10 | 369.60 | 14.50 | 9.28 | 17.17 | 4 | 0.07 | 17.33 | AR2 | | including | 355.10 | 362.00 | 6.90 | 4.42 | 34.73 | 7 | 0.11 | 34.99 | AR2 | | including | 368.40 | 369.60 | 1.20 | 0.77 | 6.90 | 4 | 0.07 | 7.06 | AR2 | | KARDD0039 | 416.00 | 449.50 | 33.50 | 20.10 | 0.85 | 5 | 0.09 | 1.06 | Bulk Intersection | | KARDD0039 | 253.50 | 255.80 | 2.30 | 1.38 | 7.55 | 23 | 0.74 | 9.00 | AR1 | | KARDD0039 | 349.30 | 351.30 | 2.00 | 1.20 | 2.98 | 55 | 0.38 | 4.33 | | | KARDD0039 | 364.20 | 365.30 | 1.10 | 0.66 | 3.35 | 3 | 0.14 | 3.62 | | | KARDD0039 | 448.00 | 449.50 | 1.50 | 0.90 | 13.44 | 33 | 0.17 | 14.16 | | | KARDD0040 | 87.80 | 102.50 | 14.70 | 11.76 | 1.18 | 4 | 0.08 | 1.36 | Bulk Intersection | | KARDD0040 | 99.50 | 102.50 | 3.00 | 2.40 | 4.78 | 6 | 0.10 | 5.03 | AR1 | | KARDD0040 | 161.40 | 162.60 | 1.20 | 0.96 | 4.47 | 2 | 0.03 | 4.53 | | | KARDD0042 | 185.90 | 236.30 | 50.40 | 40.32 | 1.58 | 6 | 0.15 | 1.90 | Bulk Intersection | | KARDD0042 | 111.30 | 112.30 | 1.00 | 0.80 | 5.14 | 6 | 0.03 | 5.27 | AR2 | | KARDD0042 | 185.90 | 188.80 | 2.90 | 2.32 | 2.12 | 6 | 0.21 | 2.52 | | | KARDD0042 | 191.40 | 194.00 | 2.60 | 2.08 | 9.06 | 41 | 1.48 | 11.91 | AR1 | | KARDD0042 | 204.70 | 205.80 | 1.10 | 0.88 | 1.57 | 8 | 0.16 | 1.93 | | | KARDD0042 | 226.60 | 228.40 | 1.80 | 1.44 | 1.00 | 4 | 0.06 | 1.14 | | | KARDD0042 | 232.50 | 236.30 | 3.80 | 3.04 | 7.65 | 25 | 0.15 | 8.21 | | | KARDD0042 | 251.40 | 252.90 | 1.50 | 1.20 | 0.99 | 11 | 0.18 | 1.41 | | | KARDD0043 | 227.00 | 267.50 | 40.50 | 32.40 | 1.20 | 3 | 0.03 | 1.28 | Bulk Intersection | | KARDD0043 | 12.40 | 15.40 | 3.00 | 2.40 | 2.58 | 1 | 0.04 | 2.64 | | | KARDD0043 | 227.00 | 228.00 | 1.00 | 0.80 | 2.56 | 6 | 0.13 | 2.84 | | | KARDD0043 | 230.20 | 235.30 | 5.10 | 4.08 | 5.38 | 13 | 0.07 | 5.67 | AR1 | | KARDD0043 | 257.80 | 260.80 | 3.00 | 2.40 | 2.96 | 3 | 0.05 | 3.08 | AR2 | | KARDD0043 | 265.00 | 267.00 | 2.00 | 1.60 | 1.09 | 1 | 0.00 | 1.11 | | | KARDD0043 | 278.80 | 280.10 | 1.30 | 1.04 | 1.47 | 11 | 0.01 | 1.64 | | | KARDD0043 | 357.90 | 362.20 | 4.30 | 3.44 | 1.16 | 7 | 0.04 | 1.33 | | | KARDD0044 | 268.80 | 328.00 | 59.20 | 35.52 | 1.21 | 2 | 0.02 | 1.27 | Bulk Intersection | | KARDD0044 | 241.60 | 243.80 | 2.20 | 1.32 | 1.02 | 9 | 0.30 | 1.61 | AR1 | | KARDD0044 | 312.00 | 324.00 | 12.00 | 7.20 | 5.18 | 2 | 0.03 | 5.26 | AR2 | | including | 320.60 | 324.00 | 3.40 | 2.04 | 9.91 | 2 | 0.05 | 10.01 | AR2 |
| Table 2 Kainantu Gold Mine – Collar Locations for Arakompa Surface Drilling | | | | | | | | | | | | | | | | | | | | | Hole ID | Collar location | | Collar orientation | | | | | | | Local North | Local East | mRL | Dip | Local azimuth | EOH depth (m) | | | | | KARDD0031 | 69955 | 89875 | 1425 | -79 | 103 | 277 | | | | KARDD0032 | 69946 | 90054 | 1399 | -46 | 110 | 226 | | | | KARDD0033 | 70203 | 89806 | 1517 | -57 | 261 | 467 | | | | KARDD0034 | 69746 | 89992 | 1365 | -62 | 48 | 934 | | | | KARDD0035 | 69954 | 89876 | 1425 | -54 | 108 | 191 | | | | KARDD0036 | 70102 | 89638 | 1554 | -52 | 226 | 503 | | | | KARDD0037 | 69954 | 89876 | 1425 | -67 | 119 | 297 | | | | KARDD0038 | 70204 | 89805 | 1517 | -50 | 238 | 466 | | | | KARDD0039 | 70095 | 89630 | 1554 | -65 | 230 | 472 | | | | KARDD0040 | 69953 | 89878 | 1425 | -47 | 58 | 245 | | | | KARDD0042 | 69954 | 89878 | 1425 | -70 | 58 | 304 | | | | KARDD0043 | 70095 | 89630 | 1554 | -52 | 316 | 377 | | | | KARDD0044 | 70095 | 89630 | 1554 | -65 | 313 | 408 | |
Drill Hole Sampling Methodology, QA/QC and Qualified Person
The diamond drill hole is first logged to determine the sampling intervals, which range from a minimum of 0.1 metres to generally 1 metre. The drill core is sawn half core cut along a reference line, with the remainder of the core returned to the core tray. Core samples are then placed in numbered calico and plastic bags, with a numbered sample ticket for dispatch to the assay laboratory. Samples are separately assayed for gold, copper and silver. K92’s procedure includes the insertion standards, blanks and duplicates. Gold assays are by the fire assay method. Copper and silver assays are by three-acid-digestion method (nitric, perchloric and hydrochloric mix).
K92 maintains an industry-standard analytical quality assurance and quality control (QA/QC) and data verification program to monitor laboratory performance and ensure high quality assays. Results from this program confirm reliability of the assay results. All sampling and analytical work for the mine exploration program is performed by Intertek Testing Services (PNG) Ltd, an independent accredited laboratory that is located on site. External check assays for QA/QC purposes are performed at SGS Australia Pty Ltd in Townsville, Queensland, Australia.
K92 Interim Vice President Exploration, Andrew Kohler, MAIG, Qualified Person under the meaning of National Instrument 43-101 – Standards of Disclosure for Mineral Projects , has reviewed and is responsible for the technical content of this news release. In addition to the analytical QA/QC program outlined above, data verification also includes significant time onsite reviewing drill core, soil and outcrop sampling, artisanal workings, as well as discussing work programs and results with geology personnel and external consultants.
About K92
K92 Mining Inc. 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, is in a strong financial position, and is working to become a Tier 1 mid-tier producer through ongoing plant expansions. A maiden resource estimate on the Blue Lake copper-gold porphyry project was completed in August 2022. K92 is operated by a team of mining company professionals with extensive international mine-building and operational experience.
On Behalf of the Company,
John Lewins, Chief Executive Officer and Director
For further information, please contact David Medilek, P.Eng., CFA, President and Chief Operating Officer at +1-604-416-4445
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release includes certain “forward-looking statements” under applicable Canadian securities legislation. Such forward-looking statements include, without limitation: (i) the results of the Kainantu Mine Definitive Feasibility Study, and the Kainantu Preliminary Economic Assessment, including the Stage 3 Expansion, a new standalone 1.2 mtpa process plant and supporting infrastructure; (ii) statements regarding the expansion of the mine and development of any of the deposits; (iii) the Kainantu Stage 4 Expansion, operating two standalone process plants, larger surface infrastructure and mining throughputs; and (iv) the potential extended life of the Kainantu Mine.