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K92 Mining Reports Bulk Sample Preliminary Results at Judd Vein System

K92 Mining Inc. has reported the initial underground bulk sample outcomes from the Judd Vein System at the Kainantu Gold Mine situated in Papua New Guinea.

Location of near-mine vein targets. Image Credit: K92 Mining Inc.

Situated in near-mine infrastructure, approximately 100 to 150 m North-East from the producing Kora deposit, the Judd Vein System contains four familiar veins, with a large sample mined from Judd #1 Vein.

Very limited exploration was made on the Judd Vein System that contains four familiar veins and has a target strike length of around 2.5 km sub-parallel to the Kora deposit. Previous drilling outcomes from former owners include 3 m at 278.2 g/t gold (Au) and 0.21% copper (Cu), and 9 m at 8.32 g/t Au and 1.11% Cu (core length).

K92 Mining intersected the Judd Vein System in a surface drill hole targeting Kora, approximately 500 m to the South of these historical holes 4.7 m at 0.02% Cu, 4.98 g/t Au, and 17 g/t silver (Ag), (5.22 g/t AuEq, 4.2 m actual thickness).

The outcomes mark the initial significant exploration activity performed on the Judd Vein System by K92 Mining.

The bulk sample was finished on the 1235 mRL level as a multi-purpose mine infrastructure development drive with huge ventilation return airway dimensions of 5.5 m x 5.5 m.

Around 109 m of development was finished, and around 6,200 tons at 5.5 g/t Au equivalent, or 1.11% Cu, 3.6 g/t Au, and 19 g/t Ag, with an average thickness of 3.4 m, were mined from the Judd Vein System from grade control channel sampling.

Integrating surplus dilution from the huge 5.5 m x 5.5 m return airway drive, an estimated 10,130 tons at 3.6 g/t AuEq, or 12 g/t Ag, 2.40 g/t Au, and 0.70% Cu were mined.

Most of the bulk sample has been stored, with previously mined material processed via the Kainantu processing plant. The residual bulk sample and extra material mined will be processed individually through the Kainantu plant as soon as the Stage 2 Process Plant Expansion commissioning is over.

Ground conditions were seen to be competent and are anticipated to be conducive to mining widths, analogous to the average thickness of Judd #1 Vein and those being mined at Kora, which is at least 2 m wide for long-hole stopping and minimum 3 m wide for cut and fill.

Based on the encouraging outcomes so far, K92 Mining has mobilized an underground diamond drill rig for a Phase 1 Judd Vein system drilling program. The preliminary drill program scheduled is a 33-hole program, focusing on strike extensions from the development drive of around 250 m, besides up-dip and down-dip step-out drilling. Also, the bulk sample development drive will be prolonged.

We are certainly excited by these initial results from the bulk sampling of the Judd #1 Vein. The results mark the first significant exploration program on the Judd target by K92. With a potential strike length of ~2.5km, a known vertical extent of over 700 metres that remains open at depth, similar gold-copper-silver mineralization to Kora and encouraging grades, we are very encouraged about its potential.

John Lewins, Chief Executive Officer and Director, K92 Mining Inc.

Lewins added, “As a result, we have mobilized a drill rig to commence the Phase 1 Judd Exploration program and will continue to extend the development drive. Exploration activities are also significantly increasing property wide. An additional drill rig has arrived on site this past week, increasing our total to eight, and we expect to have nine rigs on site by the end of the third quarter and ten by the end of the year.

The additional drill rigs have meaningfully increased our rate of exploration and capacity to drill multiple targets concurrently. By the end of the year, we expect to have drills operating on Kora, Kora South, Judd, Karempe and Blue Lake. Approximately ~20% of the known vein field strike has been drill tested and Kora remains open at depth.

John Lewins, Chief Executive Officer and Director, K92 Mining Inc.


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