- Multiple wide intervals of high grade mineralization from hole KMDD0049
- Drillhole intersections are above the current working levels
- Drilling ongoing
VANCOUVER, British Columbia, Feb. 09, 2018 (GLOBE NEWSWIRE) -- K92 Mining Inc. (“K92”) (TSX-V:KNT) (OTCQB:KNTNF) has intersected multiple intervals of high grades of gold in drill hole KMDD0049, which is a drill hole on the most southerly line being drilled from diamond drill cuddy 2 (DDC2) orientated 25o upwards, above the current working level.
Included within the results is the highest grade and best intersection K92 has achieved from Kora vein K2, being 6.8 m (4.75 true width) @ 56.45 g/t AuEq along continuing high grades in Kora vein K1, being 5.6m (3.27 true width) @ 41.71 g/t AuEq. Additional to these wide intervals of high grade, an intersection into a cross cutting link structure designated Kora KL2 returned an assay of 2.8m (1.96 true width) @ 13.33 g/t AuEq. K92 believes that the presence and results related to this second link structure potentially indicates that the current high grade being encountered in Kora K1 continues further to the south.
K92 Chief Executive Officer John Lewins states, “In the same week as K92 has declared the achievement of commercial production, it is extremely pleasing to report results from possibly the best hole we have drilled to date in Kora North. This and other results from the mining, development and drilling at Kora North over the last month have been outstanding and continue to build our knowledge of the deposit and its potential. We continue to see remarkable consistency, intercepting mineralization in almost every single hole drilled from the first two underground drill cuddies and look forward to continuing our drilling program aimed at defining the potential of the Kora Deposit.”
Tables 1 and 2 below provide a summary of the results from the latest diamond grade control drill hole drilled into the Kora North Vein system. Table 1 provides a summary of the significant intercepts from the hole, while Table 2 provides details of collar location and hole orientation.
Table 1.0 Kainantu Gold Mine – Significant Intercepts from Kora Underground Diamond Drilling
|Hole_id||From (m)||To (m)||Interval (m)||True width (m)||Gold g/t||Silver g/t||Copper %||Gold equivalent||Comment|
Gold Equivalent uses Copper price – US$2.90/lb; Silver price US$16.5/oz and Gold price of US$1300/oz
Table 2.0 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|
K92 Mine Geology Manager and Mine Exploration Manager, Mr. Andrew Kohler, PGeo, 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. 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
Suite 488 – 1090 West Georgia Street
Vancouver, British Columbia
Canada V6E 3V7
Telephone: (604) 687-7130
Facsimile: (604) 608-9110
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.