The results are from 11 diamond drill holes completed in the ongoing underground grade control drilling programme at its high-grade Kainantu gold mine.
The company said a number of these latest results were important as they showed wide high-grade intersections “less than 20 metres from the drill cuddy”.
Chief executive officer and director Ian Stalker said: “The latest grade control drilling results include some of the widest that we have seen to date at Irumafimpa, with 8.2 metres at 24.65 g/t (grams per tonne) AuEq recorded in hole GCDD0074 and 4 metres at 60.57 g/t AuEq recorded in hole GCDD0071. Importantly in both places these intersections commence less than 20 metres from the drill cuddy.”
K92 Mining began gold production from the Irumafimpa gold deposit, which together with the Kora gold deposit, are part of the company’s Kainantu gold project.
- Infrastructure including underground mine development, mill processing facility, staff housing, licensed tailings pond, office space, paved access roads and reliable hydro supply via a dedicated power line;
- US$41.3 million (K12.87m) invested in exploration drilling and definition drilling with the current resource estimate based on 78,935m of drilling via 767 drill holes;
- process mill has successfully treated the first batch of underground ore delivered from Irumafimpa, with concentrate now produced;
- gold production at Irumafimpa targeted to ramp to steady state operations, reaching an annualised production rate of 52,000 Au per annum, over coming months; and,
- Significant opportunity to expand known zones of mineralisation; as well as for the discovery of new ore bodies.