• Drill Hole KMDD0143 one of the deepest holes drilled to date at Kora/Kora North records multiple intersections including 7.40 m at 23.72 g/t Au, 26g/t Ag and 1.71% Cu (26.67 g/t AuEq) plus 2.00 m at 5.09 g/t Au, 24 g/t Ag and 4.16% Cu (11.77 g/t AuEq) plus 4.3 m at 1.61 g/t Au, 54 g/t Ag and 2.16% Cu (5.61 g/t AuEq)
• Drill Hole KMDD0176, which only targeted the K1 vein, records one of the widest K1 intersection yet encountered of 42.5 m at 7.98 g/t Au, 25 g/t Ag and 0.85% Cu (9.61 g/t AuEq)
• Drill Hole KMDD0141, the deepest hole drilled to date records multiple intersections including 6.90 m at 3.76 g/t Au, 82 g/t Ag and 2.42% Cu (8.51 g/t AuEq) plus 13.5 m at 3.31 g/t Au, 3 g/t Ag and 0.12% Cu (3.54 g/t AuEq) and 6.85 m at 3.15 g/t Au, 4 g/t Ag and 0.15% Cu (3.43 g/t AuEq)
• Drill Hole KMDD0178 records multiple intersections including 5.86 m at 9.30 g/t Au, 8 g/t Ag and 0.20% Cu (9.71 g/t Au Eq) plus 6.80 m at 16.44 g/t Au, 51 g/t Ag and 0.70% Cu (18.16 g/t AuEq)
• Drill Hole KMDD0182 records multiple intersections including 11.33 m at 4.29 g/t Au, 2g/t Ag and 0.89% Cu (5.67 g/t AuEq) plus 12.00 m at 5.05 g/t Au, 16 g/t Ag and 0.18% Cu (5.53 g/t AuEq)

VANCOUVER, British Columbia, Oct. 07, 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 11 diamond drill holes completed from both surface and underground into the Kora North deposit are summarized in Table 1 below. The results include two holes, KMDD0141 & KMDD0143, which are the deepest holes drilled to date at Kora/Kora North. KMDD0141 recorded a K2 intersection at approximately 820 mRL of 6.90 m at 3.76 g/t Au, 82 g/t Ag and 2.42% Cu (8.51 g/t gold equivalent (“AuEq”)), as well as a K1 intersection of 13.5 m at 3.31 g/t Au, 3 g/t Ag and 0.12% Cu (3.54 g/t AuEq). KMDD0143 recorded a K2 intersection at approximately 840 mRL of 7.40 m at 23.72 g/t Au, 26g/t Ag and 1.71% Cu (26.67 g/t AuEq), as well as a K1 intersection of 2.00 m at 5.09 g/t Au, 54g/t Ag and 4.16% Cu (11.77 g/t AuEq), 400 metres along strike and to the south of KMDD0141.   

(Gold Equivalent (AuEq) is calculated using copper price of US$2.90/lb; silver price of US$16.5/oz and gold price of US$1,300/oz.)

The results from these two holes combined with those previously reported show a vertical extent of the K2 vein system to be over 1,000 metres from surface and still open at a depth. Long sections of K1 and K2 showing the location of the latest drill holes are provided in Figures 1 and 2 respectively. 

John Lewins, K92 Chief Executive Officer and Director, stated, “The reported results include the two deepest holes drilled to date at Kora/Kora North. Both of these holes returned K2 intersections below 850 mRL, some 350 metres below our current operating levels and over 1,000 metres below surface where the veins outcrop. The K2 intersection of 6.9 metres at 8.51 g/t AuEq in KMDD0141 is towards the known northern limit of the veins, while the K2 intersection of 7.40 metres at 26.67 g/t AuEq in KMDD0143 is almost 400 metres along strike to the south. Both holes have substantial K1 intersections of 13.5 metres at 3.54 g/t AuEq and 2.0 metres at 11.77 g/t AuEq respectively.

Importantly, the KMDD0143 intersection is located approximately 200 metres below the deepest hole drilled from surface on the Kora deposit, BKDD0023 (drilled by Barrick), which recorded 32 metres of continuous mineralization to the end of hole, including 6.4 metres at 5.52 g/t Au and 8.0 metres at 3.7% Cu.

Other holes include one of the widest intersections reported on K1 of 42.5 metres at 7.98 g/t Au, 25 g/t Ag and 0.85% Cu (9.61 g/t AuEq). All of the results confirm yet again the extremely high continuity of the Kora K1 and K2 vein systems and that the Kora system still remains open both at depth and along strike.”

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