K92 Drills Multiple High Grade Gold Intersections in Irumafimpa Area

 In 2017, News Releases

Intercepts include:

  • 8.18m at 33 g/t Au plus 1m at 4.51 g/t Au plus 1.1m at 4.96 g/t Au in hole GCDD0020a
  • 2m at 22.6 g/t Au plus 5.1m at 9.73 g/t Au plus 3.2m at 6.03 g/t Au in hole GCDD0020
  • 7m at 28.75 g/t Au plus 1m at 2.49 g/t Au in hole GCDC0016
  • 2m at 32.32 g/t Au in hole GCDD0019
  • 5m at 73.16 g/t Au plus 0.94m at 4.74 g/t Au plus 1m at 5.44 g/t Au in hole GCDD0011
  • 3m at 8.16 g/t Au in hole GCDD0018

K92 Mining Inc. (“K92”) (TSXV – KNT) is pleased to announce the latest results from the ongoing grade control drilling program at its high grade Kainantu Gold Mine. K92 is currently ramping up the Kainantu Gold Mine towards commercial production, with its longest continuous production run to date now commenced.

In September of 2016, K92 began a campaign of close spaced underground diamond drilling as part of a comprehensive grade control strategy. The current grade control drilling program is focused on the areas of Irumafimpa and is designed to bring a high degree of confidence to the production planning and scheduling. K92 plans to mine this area in the coming six months. The closed space drilling pattern of approximately 15 metres by 15 metres has significantly increased the confidence in this sparsely drilled area, with most holes recording high grade intersections. Approximately 80% of the holes completed to date have recorded multiple high grade intersections indicating the presence of multiple parallel to sub parallel high grade veins.

The results from this drilling are used to finalize the various stope and ore development designs and provide updated information on projected production from the areas in terms of tonnage, grade and contained ounces. The drilled grade control holes are situated at the lowest point in the underground which K92 plans to mine and are also at the southern edge of the known resource that was previously only drilled on a 100 metre by 100 metre pattern.

K92 Chief Executive Officer, Ian Stalker, states, In the context of K92 moving towards achieving Commercial Production, these high grade results are extremely pleasing as they confirm the continuity of the high grade system previously reported in the first six holes. The holes were drilled from an area at the southern extremity of the resource where data is limited and significantly lower grades were expected. The results also show consistent evidence of multiple parallel high grade veins within close proximity to each other, providing the potential for several veins to be mined from the same underground access.”

Table 1 and 2 below provides a summary of the results from diamond grade control holes seven to twenty one which have been drilled into the stope areas it is planned to be mined underground. Table 1 provides a summary of the significant intercepts from the holes, while Table 2 provides details of collar location and hole orientation (drill hole GCDD0020a was drilled parallel to and within 5 metres of hole GCDD0020 as this hole did not go to full depth for technical reasons).

Table 1 Kainantu Gold Mine – Significant Intercepts from Irumafimpa Grade Control

Hole_idFrom (m)To (m)Interval (m)True width (m)Gold g/tCopper %Silver g/tGold equivalent
GCDD0007293121.925.640.113.455.85
GCDD0007383910.982.810.120.93
GCDD0007727421.923.020.463.93.73
GCDD00082222.90.90.684.380.134.64.62
GCDD000823.524.510.785.980.012.56.02
GCDD000845.1460.90.6313.20.021.313.24
GCDD0008464710.7763.60.022.163.66
GCDD000924.725.50.80.787.990.2928.43
GCDD000938.539.20.70.674.20.075.44.37
GCDD000940.3540.60.250.197.760.067.97.95
GCDD00114445.51.51.1173.160.231.773.51
including4445.21.20.987.60.061.787.71
including45.245.50.30.2115.40.91.716.71
GCDD001149.3650.30.940.674.740.0114.77
GCDD0011535410.785.440.061.15.54
GCDD001225.527.31.81.711.210.024.61.3
GCDD001230.331.310.931.550.040.81.62
GCDD001234.836.51.71.591.860.044.081.98
GCDD001318.319.310.876.411.5237.29.08
GCDD0013343510.9111.40.052.311.5
GCDD0013363710.8510.90.17511.21
GCDD001345.545.80.30.256.920.021.16.96
GCDD0014242510.691.560.130.91.76
GCDD0014a18.720.31.61.14.490.05914.59
GCDD0014a24.45250.550.384.4819.86.04
Hole_idFrom (m)To (m)Interval (m)True width (m)Gold g/tCopper %Silver g/tGold equivalent
GCDD0014a50.651.91.30.92.360.02838.62.52
GCDD0014a54.755.40.70.483.780.01550.63.81
GCDD001521.9231.10.8919.70.0231.819.76
GCDD00153940.81.81.454.160.031.194.21
including3939.70.70.565.360.0290.45.41
Including39.740.81.10.893.390.0311.73.46
GCDD001650.553.22.71.7728.750.0385.6428.89
including50.551.510.6626.20.048.926.38
including51.552.510.6546.40.054.646.53
including52.553.20.70.467.20.0192.57.26
GCDD001660.361.310.662.490.43424.93.44
GCDD0017181910.872.020.1712.12.29
GCDD0017353610.886.60.03144.18.56
GCDD0017404110.8843.940.0423.544.05
GCDD001875.179.64.32.128.160.10315.878.52
including75.1771.90.9310.90.06914.511.19
including7778.21.20.589.950.08127.410.43
including78.279.61.20.612.030.1816.52.38
GCDD0019707221.7632.320.0015.4532.4
including707110.833.350.0013.13.39
including717210.8361.30.0027.861.41
GCDD002019.6211.41.182.120.0771.542.25
including19.6200.40.3420.0520.42.08
including202110.842.180.08722.33
GCDD0020272921.6422.60.0631.222.27
including272810.8238.20.1081.838.38
including282910.826.120.0180.66.15
GCDD002029.634.75.14.239.730.0222.219.89
including29.631.621.6511.20.0463.311.31
including31.632.71.10.925.590.0420.55.66
including32.733.710.8318.90.2582.819.31
including33.734.710.832.220.0241.32.27
GCDD00204044.23.22.666.030.1082.786.22
including404110.829.340.2484.59.75
including414210.845.560.0311.95.63
GCDD00204344.21.213.670.0562.13.78
GCDD0020a19.9211.10.854.960.0191.95.01
GCDD0020a2735.188.185.56330.06233.11
including2728.31.31.0581.30.1212.381.5
Hole_idFrom (m)To (m)Interval (m)True width (m)Gold g/tCopper %Silver g/tGold equivalent
including28.3290.70.572.990.0562.53.1
including2931.92.92.4552.90.0692.853.04
including3333.70.70.575.260.0060.75.28
GCDD0020a414210.82.10.0521.62.2
GCDD0020a43.5440.50.432.420.24212.78
GCDD0020a707110.784.510.0055.84.6
GCDD0021434410.864.660.011.44.69
GCDD002156.156.50.40.353.360.1660.93.61

Notes

Gold Equivalent uses Copper price – US$2.50/lb; Silver price US$16/oz and Gold price of US$1200/oz

Table 2 Kainantu Gold Mine – Collar Locations for Irumafimpa Grade Control Drilling

Hole_idCollar locationCollar orientationEOH depth (m)Lode
Local northLocal EastRLDipLocal azimuth
GCDD000759656.529922.441248.2-9.7291.9480Irumafimpa
GCDD000859656.2729923.081246.96-36.829280.2Irumafimpa
GCDD000959656.1229919.371247.77-1127475.2Irumafimpa
GCDD001059656.4129922.491247.88-2827470.3Irumafimpa
GCDD001159655.6829922.741247.17-4127672Irumafimpa
GCDD001259652.9329916.761247.36-10.28254.1854.6Irumafimpa
GCDD001359654.1229921.091247.21-27.15254.2163.6Irumafimpa
GCDD001459654.4129922.11247.08-39.3254.5737.3Irumafimpa
GCDD0014a59654.3929921.981247.06-39.04254.3174Irumafimpa
GCDD001559653.0129921.11247.38-23.74239.8169.2Irumafimpa
GCDD001659655.2729924.961248.5-3623972.9Irumafimpa
GCDD001759653.0129921.041248.38-8.77240.163.3Irumafimpa
GCDD001859643.4329950.551233.51-23.1242.5595.7Irumafimpa
GCDD001959643.3229950.251233.97-6.45243.1695Irumafimpa
GCDD002059653.1729920.971250.4215.41248.1444.2Irumafimpa
GCDD0020a59653.1729920.971250.0616.38242.6772.1Irumafimpa
GCDD002159656.2229922.841249.5913.67290.42105.2Irumafimpa
GCDD002259643.4729950.591233.47-35.42242.8676.7Irumafimpa
GCDD002359655.629921.251249.7915.89270.4479.9Irumafimpa
GCDD002459643.3729950.41234.752.82242.8573Irumafimpa
GCDD002559656.42829923.161249.4815.38304.2170Irumafimpa
GCDD002659644.7329946.531234.11-8.87249.7681Irumafimpa
GCDD002759644.7629946.531233.84-18.52251.0386.4Irumafimpa

K92 Geologist Andrew Kohler, BSc, P. Geo, a qualified person under the meaning of Canadian National Instrument 43-101, has reviewed and is responsible for the technical content of this news release.

On behalf of the company,

Ian Stalker
Chief Executive Officer and Director

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, production, activities, events or developments that the Company believes, expects or anticipates will or may occur are forward-looking information, including statements regarding potential ongoing production which may or may not occur and the generation of further production assessment work at deposits, which may or may not occur. While commercial production is targeted, there is no assurance it will be achieved. 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, 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.