Latest High-Grade Kora Drill Results From Kora North Extension
VANCOUVER, June 04, 2019 -
- Drill Hole KMDD0119, with a K2 intersection approximately 100 metres above the existing Kora North Resource and 100 metres below the existing Kora Resource, records multiple intersections including 49.46 m at 4.58 g/t Au, 33 g/t Ag and 1.09% Cu (6.80 g/t AuEq) plus 3.66 m at 39.88 g/t Au, 280 g/t Ag and 0.25% Cu (43.94 g/t AuEq)
- Drill Hole KMDD0146 records multiple intersections including 5.28 m at 53.85 g/t Au, 8 g/t Ag and 0.76% Cu (55.10 g/t AuEq) plus 11.00 m at 6.33 g/t Au, 8 g/t Ag and 0.40% Cu (7.05 g/t AuEq) plus 3.82 m at 8.81 g/t Au, 43 g/t Ag and 1.94% Cu (12.32 g/t AuEq)
- Drill Hole KMDD0148 records multiple intersections including 5.81 m at 8.36 g/t Au, 12 g/t Ag and 0.63% Cu (9.49 g/t Au Eq) plus 5.61 m at 19.22 g/t Au, 23g/t Ag and 1.58% Cu (21.92 g/t AuEq)
- Drill Hole KMDD0150 records multiple intersections including 6.72 m at 6.00 g/t Au, 12 g/t Ag and 0.79% Cu (7.36 g/t AuEq) plus 22.37 m at 2.51 g/t Au, 10 g/t Ag and 0.71% Cu (3.72 g/t AuEq) plus 7.26 m at 8.39 g/t Au, 17 g/t Ag and 0.40% Cu (9.22 g/t AuEq)
- Drill Hole KMDD0152 records multiple intersections including 7.45 m at 30.95 g/t Au, 5 g/t Ag and 0.44% Cu (31.69 g/t AuEq) plus 3.80 m at 2.80 g/t Au, 11 g/t Ag and 0.23% Cu (3.29 g/t AuEq)
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 6 diamond drill holes completed from diamond drill cuddy 3 and cuddy 5 (DDC3 and DDC5) into the Kora North deposit are summarized in Table 1 below.
John Lewins, K92 Chief Executive Officer and Director, stated, “The latest results include hole KMDD0119 which reported a K2 intersection of 3.66 metres at 43.94 g/t AuEq approximately 100 metres above the current Kora North Resource and 100 metres below the current Kora Resource. This hole also reported a K1 intersection of 49.46 metres @ 6.80 g/t which appears to be analogous with the E4 lode in Kora/Eutompi. This hole is considered very significant as it provides clear evidence of the continuity between the Kora and Kora North Resource.
While the above hole KMDD0119 was drilled from underground, the balance of the planned drill holes above the Kora North Resource and below the Kora/Eutompi Resource will be drilled from surface. The surface diamond drill rig which will undertake this drilling program has been mobilized and has now commenced drilling the first hole from surface. This brings to four the number of diamond drill rigs operating on the Kora/Kora North drilling program.”
Table 1 - Kainantu Gold Mine – Significant Intercepts from Diamond Drill Cuddies 3 & 6
| Hole_id | From (m) | To (m) | Interval (m) | True width (m) | Gold g/t | Silver g/t | Copper % | Gold equivalent g/t | Comment |
| KMDD0142 | 78 | 79 | 1 | 0.91 | 1.94 | 3 | 0.27 | 2.40 | |
| KMDD0142 | 79 | 79.7 | 0.7 | 0.91 | 0.12 | 1 | 0.01 | 0.15 | |
| KMDD0144 | 58.4 | 71.35 | 12.95 | 8.13 | 2.62 | 4 | 0.27 | 3.08 | K1 |
| Including | 58.4 | 58.8 | 0.4 | 0.25 | 13.3 | 3 | 0.73 | 14.45 | |
| Including | 58.8 | 59.3 | 0.5 | 0.31 | 0.34 | 1 | 0.28 | 0.77 | |
| Including | 59.3 | 60.3 | 1 | 0.63 | 1.09 | 2 | 0.16 | 1.36 | |
| Including | 60.3 | 61.15 | 0.85 | 0.53 | 3.08 | 5 | 1.00 | 4.67 | |
| Including | 61.15 | 62.15 | 1 | 0.63 | 0.22 | 2 | 0.58 | 1.13 | |
| Including | 62.15 | 63.15 | 1 | 0.63 | 0.3 | 1 | 0.21 | 0.63 | |
| Including | 63.15 | 64 | 0.85 | 0.53 | 3.16 | 3 | 0.08 | 3.33 | |
| Including | 64 | 65 | 1 | 0.63 | 0.05 | 1 | 0.04 | 0.13 | |
| Including | 65 | 66 | 1 | 0.63 | 1.82 | 1 | 0.04 | 1.89 | |
| Including | 66 | 66.43 | 0.43 | 0.27 | 0.27 | 1 | 0.01 | 0.30 | |
| Including | 66.43 | 67.43 | 1 | 0.63 | 0.63 | 4 | 0.36 | 1.24 | |
| Including | 67.43 | 68.17 | 0.74 | 0.46 | 1.87 | 2 | 0.11 | 2.07 | |
| Including | 68.17 | 69.17 | 1 | 0.63 | 4.62 | 3 | 0.09 | 4.79 | |
| Including | 69.17 | 70.17 | 1 | 0.63 | 9.75 | 2 | 0.13 | 9.98 | |
| Including | 70.17 | 71.35 | 1.18 | 0.74 | 2.67 | 25 | 0.34 | 3.51 | |
| KMDD0144 | 73.35 | 74.35 | 1 | 0.63 | 1.5 | 11 | 0.18 | 1.91 | |
| KMDD0144 | 76.1 | 89.3 | 13.2 | 8.29 | 2.44 | 13 | 0.37 | 3.17 | |
| Including | 76.1 | 76.9 | 0.8 | 0.50 | 9.72 | 92 | 3.34 | 16.00 | |
| Including | 76.9 | 77.6 | 0.7 | 0.44 | 0.35 | 5 | 0.17 | 0.68 | |
| Including | 77.6 | 78.5 | 0.9 | 0.56 | 2.15 | 23 | 0.26 | 2.83 | |
| Including | 78.5 | 79.5 | 1 | 0.63 | 0.19 | 1 | 0.02 | 0.23 | |
| Including | 79.5 | 80.4 | 0.9 | 0.56 | 0.12 | 1 | 0.01 | 0.16 | |
| Including | 80.4 | 80.9 | 0.5 | 0.31 | 0.03 | 1 | 0.01 | 0.06 | |
| Including | 80.9 | 81.8 | 0.9 | 0.56 | 0.71 | 7 | 0.19 | 1.09 | |
| Including | 81.8 | 82.8 | 1 | 0.63 | 0.57 | 2 | 0.32 | 1.09 | |
| Including | 82.8 | 83.8 | 1 | 0.63 | 0.11 | 3 | 0.17 | 0.41 | |
| Including | 83.8 | 84.8 | 1 | 0.63 | 0.15 | 2 | 0.20 | 0.49 | |
| Including | 84.8 | 85.8 | 1 | 0.63 | 0.8 | 2 | 0.11 | 0.99 | |
| Including | 85.8 | 86.4 | 0.6 | 0.38 | 1.75 | 4 | 0.26 | 2.20 | |
| Including | 86.4 | 86.9 | 0.5 | 0.31 | 21.7 | 30 | 0.11 | 22.25 | |
| Including | 86.9 | 87.6 | 0.7 | 0.44 | 2.99 | 5 | 0.07 | 3.17 | |
| Including | 87.6 | 88.6 | 1 | 0.63 | 3.83 | 16 | 0.44 | 4.70 | |
| Including | 88.6 | 89.3 | 0.7 | 0.44 | 2.57 | 36 | 0.17 | 3.28 | |
| KMDD0144 | 96.9 | 99.8 | 2.9 | 1.71 | 22.26 | 20 | 0.60 | 23.43 | K2 |
| Including | 96.9 | 97.4 | 0.5 | 0.29 | 3.15 | 4 | 0.46 | 3.90 | |
| Including | 97.4 | 98.17 | 0.77 | 0.45 | 78.3 | 31 | 1.27 | 80.63 | |
| Including | 98.17 | 99.17 | 1 | 0.59 | 2.13 | 23 | 0.24 | 2.79 | |
| Including | 99.17 | 99.8 | 0.63 | 0.37 | 0.88 | 15 | 0.45 | 1.76 | |
| KMDD0144 | 58.4 | 71.35 | 12.95 | 8.13 | 2.62 | 4 | 0.27 | 3.08 | K1 |
| Including | 58.4 | 58.8 | 0.4 | 0.25 | 13.3 | 3 | 0.73 | 14.45 | |
| Including | 58.8 | 59.3 | 0.5 | 0.31 | 0.34 | 1 | 0.28 | 0.77 | |
| Including | 59.3 | 60.3 | 1 | 0.63 | 1.09 | 2 | 0.16 | 1.36 | |
| Including | 60.3 | 61.15 | 0.85 | 0.53 | 3.08 | 5 | 1.00 | 4.67 | |
| Including | 61.15 | 62.15 | 1 | 0.63 | 0.22 | 2 | 0.58 | 1.13 | |
| Including | 62.15 | 63.15 | 1 | 0.63 | 0.3 | 1 | 0.21 | 0.63 | |
| Including | 63.15 | 64 | 0.85 | 0.53 | 3.16 | 3 | 0.08 | 3.33 | |
| Including | 64 | 65 | 1 | 0.63 | 0.05 | 1 | 0.04 | 0.13 | |
| Including | 65 | 66 | 1 | 0.63 | 1.82 | 1 | 0.04 | 1.89 | |
| Including | 66 | 66.43 | 0.43 | 0.27 | 0.27 | 1 | 0.01 | 0.30 | |
| Including | 66.43 | 67.43 | 1 | 0.63 | 0.63 | 4 | 0.36 | 1.24 | |
| Including | 67.43 | 68.17 | 0.74 | 0.46 | 1.87 | 2 | 0.11 | 2.07 | |
| Including | 68.17 | 69.17 | 1 | 0.63 | 4.62 | 3 | 0.09 | 4.79 | |
| Including | 69.17 | 70.17 | 1 | 0.63 | 9.75 | 2 | 0.13 | 9.98 | |
| Including | 70.17 | 71.35 | 1.18 | 0.74 | 2.67 | 25 | 0.34 | 3.51 | |
| KMDD0144 | 73.35 | 74.35 | 1 | 0.63 | 1.5 | 11 | 0.18 | 1.91 | |
| KMDD0144 | 76.1 | 89.3 | 13.2 | 8.29 | 2.44 | 13 | 0.37 | 3.17 | KL |
| Including | 76.1 | 76.9 | 0.8 | 0.50 | 9.72 | 92 | 3.34 | 16.00 | |
| Including | 76.9 | 77.6 | 0.7 | 0.44 | 0.35 | 5 | 0.17 | 0.68 | |
| Including | 77.6 | 78.5 | 0.9 | 0.56 | 2.15 | 23 | 0.26 | 2.83 | |
| Including | 78.5 | 79.5 | 1 | 0.63 | 0.19 | 1 | 0.02 | 0.23 | |
| Including | 79.5 | 80.4 | 0.9 | 0.56 | 0.12 | 1 | 0.01 | 0.16 | |
| Including | 80.4 | 80.9 | 0.5 | 0.31 | 0.03 | 1 | 0.01 | 0.06 | |
| Including | 80.9 | 81.8 | 0.9 | 0.56 | 0.71 | 7 | 0.19 | 1.09 | |
| Including | 81.8 | 82.8 | 1 | 0.63 | 0.57 | 2 | 0.32 | 1.09 | |
| Including | 82.8 | 83.8 | 1 | 0.63 | 0.11 | 3 | 0.17 | 0.41 | |
| Including | 83.8 | 84.8 | 1 | 0.63 | 0.15 | 2 | 0.20 | 0.49 | |
| Including | 84.8 | 85.8 | 1 | 0.63 | 0.8 | 2 | 0.11 | 0.99 | |
| Including | 85.8 | 86.4 | 0.6 | 0.38 | 1.75 | 4 | 0.26 | 2.20 | |
| Including | 86.4 | 86.9 | 0.5 | 0.31 | 21.7 | 30 | 0.11 | 22.25 | |
| Including | 86.9 | 87.6 | 0.7 | 0.44 | 2.99 | 5 | 0.07 | 3.17 | |
| Including | 87.6 | 88.6 | 1 | 0.63 | 3.83 | 16 | 0.44 | 4.70 | |
| Including | 88.6 | 89.3 | 0.7 | 0.44 | 2.57 | 36 | 0.17 | 3.28 | |
| KMDD0144 | 96.9 | 99.8 | 2.9 | 1.71 | 22.26 | 20 | 0.60 | 23.43 | K2 |
| Including | 96.9 | 97.4 | 0.5 | 0.29 | 3.15 | 4 | 0.46 | 3.90 | |
| Including | 97.4 | 98.17 | 0.77 | 0.45 | 78.3 | 31 | 1.27 | 80.63 | |
| Including | 98.17 | 99.17 | 1 | 0.59 | 2.13 | 23 | 0.24 | 2.79 | |
| Including | 99.17 | 99.8 | 0.63 | 0.37 | 0.88 | 15 | 0.45 | 1.76 | |
| KMDD0146 | 42.72 | 48 | 5.28 | 4.36 | 53.85 | 8 | 0.76 | 55.10 | K1 |
| including | 42.72 | 43.2 | 0.48 | 0.40 | 308 | 26 | 0.81 | 309.57 | |
| including | 43.2 | 44.6 | 1.4 | 1.16 | 2.05 | 1 | 0.53 | 2.88 | |
| including | 44.6 | 45.3 | 0.7 | 0.58 | 69.3 | 24 | 3.58 | 75.08 | |
| including | 45.3 | 46 | 0.7 | 0.58 | 113 | 10 | 0.35 | 113.66 | |
| including | 46 | 47 | 1 | 0.83 | 0.85 | 1 | 0.03 | 0.91 | |
| including | 47 | 48 | 1 | 0.83 | 5.14 | 3 | 0.08 | 5.29 | |
| KMDD0146 | 54 | 65 | 11 | 9.05 | 6.33 | 8 | 0.40 | 7.05 | KL |
| including | 54 | 55 | 1 | 0.82 | 1.23 | 1 | 0.08 | 1.37 | |
| including | 55 | 56 | 1 | 0.82 | 1.42 | 4 | 0.21 | 1.80 | |
| including | 56 | 57 | 1 | 0.82 | 0.07 | 0.5 | 0.07 | 0.19 | |
| including | 57 | 58.2 | 1.2 | 0.99 | 11.7 | 56 | 1.64 | 14.92 | |
| including | 58.2 | 59.7 | 1.5 | 1.23 | 3.41 | 3 | 0.22 | 3.78 | |
| including | 59.7 | 61 | 1.3 | 1.07 | 20.8 | 6 | 0.60 | 21.79 | |
| including | 61 | 62 | 1 | 0.82 | 12.7 | 1 | 0.07 | 12.81 | |
| including | 62 | 63 | 1 | 0.82 | 5.31 | 1 | 0.08 | 5.44 | |
| including | 63 | 64 | 1 | 0.82 | 1.56 | 2 | 0.56 | 2.44 | |
| including | 64 | 65 | 1 | 0.82 | 1.19 | 3 | 0.21 | 1.55 | |
| KMDD0146 | 72.18 | 76 | 3.82 | 3.35 | 8.81 | 43 | 1.94 | 12.32 | K2 |
| including | 72.18 | 73 | 0.82 | 0.72 | 3.06 | 18 | 0.84 | 4.57 | |
| including | 73 | 74 | 1 | 0.88 | 2.04 | 17 | 0.07 | 2.37 | |
| including | 74 | 75 | 1 | 0.88 | 28.4 | 121 | 6.04 | 39.18 | |
| including | 75 | 76 | 1 | 0.88 | 0.71 | 13 | 0.60 | 1.79 | |
| KMDD0148 | 46.16 | 51.97 | 5.81 | 4.56 | 8.36 | 12 | 0.63 | 9.49 | K1 |
| including | 46.16 | 46.43 | 0.27 | 0.21 | 16.58 | 4 | 0.40 | 17.24 | |
| including | 46.43 | 46.69 | 0.26 | 0.20 | 0.88 | 5 | 0.80 | 2.16 | |
| including | 46.69 | 47.72 | 1.03 | 0.81 | 24.92 | 22 | 1.13 | 26.92 | |
| including | 47.72 | 48.57 | 0.85 | 0.67 | 0.35 | 2 | 0.16 | 0.62 | |
| including | 48.57 | 49 | 0.43 | 0.34 | 6.66 | 72 | 3.19 | 12.45 | |
| including | 49 | 49.35 | 0.35 | 0.27 | 1.18 | 7 | 0.35 | 1.80 | |
| including | 49.35 | 49.85 | 0.5 | 0.39 | 4.78 | 3 | 0.14 | 5.03 | |
| including | 49.85 | 50.19 | 0.34 | 0.27 | 1.01 | 1 | 0.01 | 1.04 | |
| including | 50.19 | 51.19 | 1 | 0.78 | 11.43 | 2 | 0.03 | 11.50 | |
| including | 51.19 | 51.67 | 0.48 | 0.38 | 0.31 | 1 | 0.01 | 0.33 | |
| including | 51.67 | 51.97 | 0.3 | 0.24 | 1.12 | 25 | 1.52 | 3.76 | |
| KMDD0148 | 54.9 | 66.01 | 11.11 | 9.60 | 1.28 | 6 | 0.89 | 2.71 | KL |
| including | 54.9 | 55.9 | 1 | 0.86 | 7.78 | 2 | 0.18 | 8.08 | |
| including | 55.9 | 56.8 | 0.9 | 0.78 | 0.21 | 1 | 0.09 | 0.36 | |
| including | 56.8 | 57.6 | 0.8 | 0.69 | 0.22 | 12 | 2.96 | 4.90 | |
| including | 57.6 | 58.87 | 1.27 | 1.10 | 0.19 | 9 | 2.16 | 3.61 | |
| including | 58.87 | 60 | 1.13 | 0.98 | 0.06 | 2 | 0.25 | 0.47 | |
| including | 60 | 60.7 | 0.7 | 0.60 | 0.07 | 1 | 0.24 | 0.44 | |
| including | 60.7 | 62 | 1.3 | 1.12 | 0.46 | 4 | 0.21 | 0.84 | |
| including | 62 | 62.6 | 0.6 | 0.52 | 0.17 | 2 | 0.19 | 0.49 | |
| including | 62.6 | 63.62 | 1.02 | 0.88 | 0.15 | 7 | 1.00 | 1.76 | |
| including | 63.62 | 64.32 | 0.7 | 0.60 | 0.8 | 13 | 3.11 | 5.72 | |
| including | 64.32 | 64.75 | 0.43 | 0.37 | 8.36 | 16 | 0.40 | 9.18 | |
| including | 64.75 | 65.57 | 0.82 | 0.71 | 0.2 | 2 | 0.18 | 0.50 | |
| including | 65.57 | 66.01 | 0.44 | 0.38 | 1.21 | 10 | 0.29 | 1.78 | |
| KMDD0148 | 74.5 | 80.11 | 5.61 | 5.03 | 19.22 | 23 | 1.58 | 21.92 | K2 |
| including | 74.5 | 75.03 | 0.53 | 0.48 | 12.02 | 4 | 0.33 | 12.57 | |
| including | 75.03 | 75.57 | 0.54 | 0.48 | 0.5 | 3 | 0.01 | 0.56 | |
| including | 75.57 | 76.79 | 1.22 | 1.09 | 78.4 | 8 | 0.24 | 78.87 | |
| including | 76.79 | 77 | 0.21 | 0.19 | 0.41 | 1 | 0.04 | 0.49 | |
| including | 77 | 78.03 | 1.03 | 0.92 | 1.48 | 76 | 4.72 | 9.67 | |
| including | 78.03 | 78.37 | 0.34 | 0.30 | 0.36 | 3 | 0.05 | 0.48 | |
| including | 78.37 | 78.9 | 0.53 | 0.48 | 2.2 | 6 | 0.04 | 2.34 | |
| including | 78.9 | 80.11 | 1.21 | 1.08 | 2.16 | 27 | 2.86 | 6.88 | |
| KMDD0150 | 56.63 | 63.35 | 6.72 | 5.84 | 6.00 | 12 | 0.79 | 7.36 | K1 |
| including | 56.63 | 57.5 | 0.87 | 0.76 | 8 | 1 | 0.12 | 8.19 | |
| including | 57.5 | 57.93 | 0.43 | 0.37 | 0.3 | 1 | 0.15 | 0.54 | |
| including | 57.93 | 58.26 | 0.33 | 0.29 | 0.1 | 1 | 0.02 | 0.15 | |
| including | 58.26 | 58.5 | 0.24 | 0.21 | 0.21 | 2 | 0.15 | 0.46 | |
| including | 58.5 | 59.17 | 0.67 | 0.58 | 0.15 | 4 | 0.51 | 0.98 | |
| including | 59.17 | 59.6 | 0.43 | 0.37 | 0.81 | 12 | 0.73 | 2.07 | |
| including | 59.6 | 59.95 | 0.35 | 0.30 | 0.94 | 24 | 1.23 | 3.13 | |
| including | 59.95 | 60.35 | 0.4 | 0.35 | 2.29 | 49 | 5.99 | 12.08 | |
| including | 60.35 | 60.96 | 0.61 | 0.53 | 0.6 | 6 | 0.71 | 1.76 | |
| including | 60.96 | 61.39 | 0.43 | 0.37 | 2.69 | 11 | 1.40 | 4.97 | |
| including | 61.39 | 61.86 | 0.47 | 0.41 | 31.03 | 8 | 0.42 | 31.77 | |
| including | 61.86 | 62.5 | 0.64 | 0.56 | 20.84 | 34 | 0.43 | 21.93 | |
| including | 62.5 | 63.35 | 0.85 | 0.74 | 2.35 | 7 | 0.17 | 2.70 | |
| KMDD0150 | 71.2 | 93.57 | 22.37 | 13.25 | 2.51 | 10 | 0.71 | 3.72 | KL |
| including | 71.2 | 71.61 | 0.41 | 0.24 | 1.45 | 7 | 3.00 | 6.13 | |
| including | 71.61 | 72.22 | 0.61 | 0.36 | 8.07 | 2 | 0.09 | 8.24 | |
| including | 72.22 | 72.91 | 0.69 | 0.41 | 24.62 | 3 | 0.32 | 25.15 | |
| including | 72.91 | 73.25 | 0.34 | 0.20 | 0.28 | 2 | 0.15 | 0.53 | |
| including | 73.25 | 74.27 | 1.02 | 0.60 | 1.2 | 33 | 3.43 | 6.87 | |
| including | 74.27 | 74.71 | 0.44 | 0.26 | 0.1 | 5 | 1.21 | 2.01 | |
| including | 74.71 | 75.57 | 0.86 | 0.51 | 0.21 | 8 | 2.43 | 4.03 | |
| including | 75.57 | 76.44 | 0.87 | 0.52 | 0.06 | 3 | 0.14 | 0.31 | |
| including | 76.44 | 76.79 | 0.35 | 0.21 | 0.39 | 7 | 0.32 | 0.97 | |
| including | 76.79 | 77.25 | 0.46 | 0.27 | 2.3 | 53 | 8.43 | 15.87 | |
| including | 77.25 | 77.66 | 0.41 | 0.24 | 3 | 21 | 2.31 | 6.80 | |
| including | 77.66 | 78.2 | 0.54 | 0.32 | 0.35 | 6 | 0.21 | 0.75 | |
| including | 78.2 | 79.1 | 0.9 | 0.53 | 0.1 | 3 | 0.08 | 0.26 | |
| including | 79.1 | 80 | 0.9 | 0.53 | 0.04 | 3 | 0.02 | 0.11 | |
| including | 80 | 80.59 | 0.59 | 0.35 | 0.34 | 4 | 0.08 | 0.52 | |
| including | 80.59 | 81.5 | 0.91 | 0.54 | 0.03 | 2 | 0.07 | 0.16 | |
| including | 81.5 | 82.5 | 1 | 0.59 | 0.3 | 12 | 0.93 | 1.87 | |
| including | 82.5 | 83 | 0.5 | 0.30 | 0.06 | 1 | 0.08 | 0.20 | |
| including | 83 | 83.43 | 0.43 | 0.25 | 0.08 | 3 | 0.07 | 0.23 | |
| including | 83.43 | 83.85 | 0.42 | 0.25 | 1.13 | 8 | 0.27 | 1.65 | |
| including | 83.85 | 84.6 | 0.75 | 0.44 | 0.23 | 5 | 0.11 | 0.45 | |
| including | 84.6 | 85 | 0.4 | 0.24 | 0.45 | 10 | 0.16 | 0.82 | |
| including | 85 | 85.8 | 0.8 | 0.47 | 2.31 | 37 | 0.22 | 3.12 | |
| including | 85.8 | 86.7 | 0.9 | 0.53 | 0.35 | 11 | 0.25 | 0.87 | |
| including | 86.7 | 87.2 | 0.5 | 0.30 | 1.59 | 23 | 0.32 | 2.37 | |
| including | 87.2 | 87.66 | 0.46 | 0.27 | 0.94 | 2 | 0.08 | 1.09 | |
| including | 87.66 | 88.18 | 0.52 | 0.31 | 1.02 | 10 | 0.21 | 1.47 | |
| including | 88.18 | 88.9 | 0.72 | 0.43 | 1.15 | 13 | 0.24 | 1.68 | |
| including | 88.9 | 89.57 | 0.67 | 0.40 | 1.03 | 2 | 0.08 | 1.17 | |
| including | 89.57 | 90.1 | 0.53 | 0.31 | 6.57 | 15 | 0.07 | 6.86 | |
| including | 90.1 | 90.6 | 0.5 | 0.30 | 0.36 | 1 | 0.02 | 0.40 | |
| including | 90.6 | 91.5 | 0.9 | 0.53 | 0.5 | 2 | 0.04 | 0.59 | |
| including | 91.5 | 92.3 | 0.8 | 0.47 | 17.87 | 20 | 0.27 | 18.53 | |
| including | 92.3 | 92.81 | 0.51 | 0.30 | 0.89 | 3 | 0.27 | 1.34 | |
| including | 92.81 | 93.12 | 0.31 | 0.18 | 0.23 | 4 | 0.20 | 0.59 | |
| including | 93.12 | 93.57 | 0.45 | 0.27 | 7.98 | 4 | 0.18 | 8.31 | |
| KMDD0150 | 96.24 | 103.5 | 7.26 | 4.99 | 8.39 | 17 | 0.40 | 9.22 | K2 |
| including | 96.24 | 96.7 | 0.46 | 0.32 | 3.79 | 30 | 1.08 | 5.82 | |
| including | 96.7 | 97.6 | 0.9 | 0.62 | 0.16 | 4 | 0.18 | 0.48 | |
| including | 97.6 | 98.29 | 0.69 | 0.47 | 0.13 | 2 | 0.06 | 0.25 | |
| including | 98.29 | 99.2 | 0.91 | 0.63 | 10.32 | 7 | 0.11 | 10.58 | |
| including | 99.2 | 99.75 | 0.55 | 0.38 | 0.35 | 2 | 0.07 | 0.48 | |
| including | 99.75 | 100.3 | 0.55 | 0.38 | 4.92 | 46 | 0.33 | 6.01 | |
| including | 100.3 | 101.4 | 1.1 | 0.76 | 4.81 | 39 | 0.55 | 6.15 | |
| including | 101.4 | 102.57 | 1.17 | 0.80 | 29.19 | 14 | 0.64 | 30.35 | |
| including | 102.57 | 102.97 | 0.4 | 0.27 | 10.37 | 5 | 0.13 | 10.63 | |
| including | 102.97 | 103.5 | 0.53 | 0.36 | 5.82 | 18 | 0.87 | 7.38 | |
| KMDD0150 | 107 | 108.7 | 1.7 | 1.15 | 1.55 | 1 | 0.51 | 2.34 | |
| including | 107 | 107.6 | 0.6 | 0.41 | 0.11 | 1 | 0.73 | 1.24 | |
| including | 107.6 | 107.99 | 0.39 | 0.26 | 0.05 | 1 | 0.38 | 0.65 | |
| including | 107.99 | 108.7 | 0.71 | 0.48 | 3.59 | 1 | 0.38 | 4.19 | |
| KMDD0119 | 5 | 5.9 | 0.9 | 0.30 | 1.07 | 16 | 0.20 | 1.60 | |
| KMDD0119 | 95 | 96 | 1 | 0.33 | 27.22 | 3 | 0.01 | 27.27 | |
| KMDD0119 | 264 | 313.46 | 49.46 | 16.47 | 4.58 | 33 | 1.09 | 6.80 | K1 |
| including | 264 | 265.14 | 1.14 | 0.38 | 75.00 | 41 | 0.27 | 75.98 | |
| including | 265.14 | 266.76 | 1.62 | 0.54 | 1.52 | 1 | 0.13 | 1.75 | |
| including | 266.76 | 267.72 | 0.96 | 0.32 | 2.21 | 1 | 0.11 | 2.40 | |
| including | 267.72 | 268.66 | 0.94 | 0.31 | 4.00 | 3 | 0.14 | 4.27 | |
| including | 268.66 | 269.58 | 0.92 | 0.31 | 6.70 | 1 | 0.01 | 6.73 | |
| including | 269.58 | 270.7 | 1.12 | 0.37 | 0.33 | 1 | 0.02 | 0.38 | |
| including | 270.7 | 272 | 1.3 | 0.43 | 0.27 | 1 | 0.05 | 0.37 | |
| including | 272 | 273 | 1 | 0.33 | 0.14 | 1 | 0.13 | 0.36 | |
| including | 273 | 274.63 | 1.63 | 0.54 | 0.33 | 1 | 0.05 | 0.42 | |
| including | 274.63 | 275.85 | 1.22 | 0.41 | 9.28 | 4 | 0.16 | 9.59 | |
| including | 275.85 | 276.45 | 0.6 | 0.20 | 0.38 | 1 | 0.01 | 0.41 | |
| including | 276.45 | 276.84 | 0.39 | 0.13 | 0.98 | 4 | 0.02 | 1.07 | |
| including | 276.84 | 277.84 | 1 | 0.33 | 2.71 | 11 | 0.07 | 2.97 | |
| including | 277.84 | 278.8 | 0.96 | 0.32 | 4.48 | 11 | 0.22 | 4.98 | |
| including | 278.80 | 279.16 | 0.36 | 0.12 | 0.49 | 2 | 0.09 | 0.66 | |
| including | 279.16 | 279.58 | 0.42 | 0.14 | 0.52 | 11 | 2.33 | 4.46 | |
| including | 279.58 | 280.2 | 0.62 | 0.21 | 0.23 | 2 | 0.01 | 0.27 | |
| including | 280.2 | 281.2 | 1 | 0.33 | 0.93 | 2 | 0.05 | 1.03 | |
| including | 281.2 | 282.04 | 0.84 | 0.28 | 7.40 | 6 | 0.23 | 7.86 | |
| including | 282.04 | 282.67 | 0.63 | 0.21 | 4.01 | 70 | 7.09 | 16.48 | |
| including | 282.67 | 282.99 | 0.32 | 0.11 | 0.58 | 6 | 0.03 | 0.71 | |
| including | 282.99 | 283.8 | 0.81 | 0.27 | 2.68 | 89 | 4.92 | 11.86 | |
| including | 283.8 | 284.1 | 0.3 | 0.10 | 0.48 | 5 | 0.37 | 1.14 | |
| including | 284.1 | 284.6 | 0.5 | 0.17 | 5.04 | 39 | 0.29 | 6.02 | |
| including | 284.6 | 285.6 | 1 | 0.33 | 14.60 | 23 | 0.32 | 15.41 | |
| including | 285.6 | 286.09 | 0.49 | 0.16 | 0.73 | 41 | 3.03 | 6.20 | |
| including | 286.09 | 286.4 | 0.31 | 0.10 | 0.36 | 14 | 0.14 | 0.77 | |
| including | 286.4 | 287.27 | 0.87 | 0.29 | 0.30 | 4 | 0.13 | 0.56 | |
| including | 287.27 | 287.47 | 0.2 | 0.07 | 0.65 | 19 | 0.80 | 2.20 | |
| including | 287.47 | 287.6 | 0.13 | 0.04 | 1.22 | 195 | 11.55 | 22.59 | |
| including | 287.6 | 288.06 | 0.46 | 0.15 | 2.25 | 103 | 4.51 | 10.94 | |
| including | 288.06 | 288.4 | 0.34 | 0.11 | 1.52 | 11 | 0.34 | 2.21 | |
| including | 288.4 | 289.3 | 0.9 | 0.30 | 0.64 | 8 | 0.42 | 1.43 | |
| including | 289.3 | 290 | 0.7 | 0.23 | 1.01 | 29 | 6.02 | 11.20 | |
| including | 290 | 291.2 | 1.2 | 0.40 | 0.63 | 10 | 0.24 | 1.16 | |
| including | 291.2 | 291.55 | 0.35 | 0.12 | 0.49 | 9 | 0.34 | 1.16 | |
| including | 291.55 | 292 | 0.45 | 0.15 | 1.64 | 11 | 0.13 | 2.00 | |
| including | 292 | 293.26 | 1.26 | 0.42 | 0.98 | 8 | 0.07 | 1.20 | |
| including | 293.26 | 294.3 | 1.04 | 0.35 | 2.02 | 18 | 0.98 | 3.86 | |
| including | 294.3 | 296 | 1.7 | 0.57 | 0.55 | 18 | 0.38 | 1.41 | |
| including | 296 | 298 | 2 | 0.67 | 1.41 | 65 | 1.25 | 4.30 | |
| including | 298 | 299.3 | 1.3 | 0.43 | 1.10 | 8 | 0.05 | 1.28 | |
| including | 299.3 | 300.1 | 0.8 | 0.27 | 0.50 | 22 | 0.35 | 1.35 | |
| including | 300.1 | 301.3 | 1.2 | 0.40 | 2.45 | 73 | 0.15 | 3.65 | |
| including | 301.3 | 302 | 0.7 | 0.23 | 3.26 | 38 | 0.11 | 3.94 | |
| including | 302 | 303 | 1 | 0.33 | 11.72 | 142 | 0.09 | 13.71 | |
| including | 303 | 304 | 1 | 0.33 | 8.43 | 109 | 0.07 | 9.97 | |
| including | 304 | 305 | 1 | 0.33 | 8.32 | 127 | 0.17 | 10.25 | |
| including | 305 | 306 | 1 | 0.33 | 3.94 | 54 | 0.53 | 5.50 | |
| including | 306 | 306.8 | 0.8 | 0.27 | 2.11 | 128 | 1.29 | 5.89 | |
| including | 306.8 | 307 | 0.2 | 0.07 | 8.03 | 84 | 0.48 | 9.91 | |
| including | 307 | 308 | 1 | 0.33 | 5.32 | 72 | 1.51 | 8.72 | |
| including | 308 | 308.5 | 0.5 | 0.17 | 1.93 | 23 | 0.47 | 3.00 | |
| including | 308.5 | 309.29 | 0.79 | 0.26 | 0.44 | 24 | 0.92 | 2.26 | |
| including | 309.29 | 310 | 0.71 | 0.24 | 7.94 | 84 | 10.82 | 26.67 | |
| including | 310 | 310.4 | 0.4 | 0.13 | 7.41 | 90 | 9.75 | 24.47 | |
| including | 310.4 | 310.7 | 0.3 | 0.10 | 2.94 | 110 | 6.85 | 15.54 | |
| including | 310.7 | 311 | 0.3 | 0.10 | 5.87 | 126 | 11.51 | 26.27 | |
| including | 311 | 311.9 | 0.9 | 0.30 | 1.40 | 43 | 2.06 | 5.32 | |
| including | 311.9 | 312.44 | 0.54 | 0.18 | 0.12 | 6 | 0.15 | 0.44 | |
| including | 312.44 | 313.46 | 1.02 | 0.34 | 1.76 | 37 | 3.46 | 7.88 | |
| KMDD0119 | 314.5 | 314.8 | 0.3 | 0.10 | 1.25 | 9 | 0.02 | 1.40 | |
| KMDD0119 | 326.94 | 330.6 | 3.66 | 1.67 | 39.88 | 280 | 0.25 | 43.94 | K2 |
| including | 326.94 | 327.94 | 1 | 0.46 | 8.92 | 36 | 0.08 | 9.52 | |
| including | 327.94 | 329 | 1.06 | 0.48 | 7.10 | 42 | 0.10 | 7.82 | |
| including | 329 | 330 | 1 | 0.46 | 105.80 | 750 | 0.63 | 116.63 | |
| including | 330 | 330.6 | 0.6 | 0.27 | 39.50 | 326 | 0.13 | 43.97 | |
| KMDD0119 | 344.3 | 344.53 | 0.23 | 0.10 | 1.24 | 28 | 0.43 | 2.30 | |
| KMDD0152 | 49.65 | 57.1 | 7.45 | 4.70 | 30.95 | 5 | 0.44 | 31.69 | K1/E4? |
| including | 49.65 | 50.3 | 0.65 | 0.41 | 64.4 | 5 | 0.92 | 65.88 | |
| including | 50.3 | 50.9 | 0.6 | 0.38 | 25.8 | 6 | 1.07 | 27.52 | |
| including | 50.9 | 51.35 | 0.45 | 0.28 | 0.96 | 1 | 0.54 | 1.80 | |
| including | 51.35 | 52.04 | 0.69 | 0.44 | 9.94 | 2 | 0.38 | 10.54 | |
| including | 52.04 | 52.9 | 0.86 | 0.54 | 82.5 | 15 | 0.56 | 83.55 | |
| including | 52.9 | 53.6 | 0.7 | 0.44 | 1.2 | 1 | 0.13 | 1.42 | |
| including | 53.6 | 54.39 | 0.79 | 0.50 | 0.57 | 2 | 0.05 | 0.68 | |
| including | 54.39 | 55.39 | 1 | 0.63 | 45.7 | 5 | 0.60 | 46.67 | |
| including | 55.39 | 56.1 | 0.71 | 0.45 | 65.1 | 10 | 0.39 | 65.83 | |
| including | 56.1 | 57.1 | 1 | 0.63 | 1.81 | 1 | 0.06 | 1.91 | |
| KMDD0152 | 58 | 59.9 | 1.9 | 1.70 | 2.07 | 1 | 0.11 | 2.26 | KL |
| including | 58 | 59.6 | 1.6 | 1.43 | 2.13 | 1 | 0.06 | 2.24 | |
| including | 59.6 | 59.9 | 0.3 | 0.27 | 1.74 | 3 | 0.37 | 2.34 | |
| KMDD0152 | 69.2 | 73 | 3.8 | 3.50 | 2.80 | 11 | 0.23 | 3.29 | K2 |
| including | 69.2 | 69.43 | 0.23 | 0.21 | 8.53 | 3 | 0.16 | 8.82 | |
| including | 69.43 | 70.7 | 1.27 | 1.17 | 1.41 | 7 | 0.17 | 1.76 | |
| including | 70.7 | 72.3 | 1.6 | 1.47 | 3.78 | 18 | 0.35 | 4.54 | |
| including | 72.3 | 73 | 0.7 | 0.64 | 1.21 | 6 | 0.06 | 1.38 |
(1) Gold Equivalent uses copper price of US$2.90/lb; silver price of US$16.5/oz and gold price of US$1,300/oz
Table 2 - 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 | |||
| KMDD0144 | 58901.13 | 29868.67 | 1189.69 | -33.4 | 243.5 | 135.7 | Kora North |
| KMDD0146 | 58901.97 | 29868.46 | 1192.60 | 36.7 | 266.7 | 84.5 | Kora North |
| KMDD0148 | 58901.92 | 29868.56 | 1189.97 | -24.3 | 263.8 | 124.4 | Kora North |
| KMDD0150 | 58901.94 | 29868.95 | 1189.75 | -47.2 | 263.1 | 160.7 | Kora North |
| KMDD0119 | 59037.74 | 29951.70 | 1199.34 | 43.1 | 215.0 | 368.1 | Kora North |
| KMDD0152 | 58901.97 | 29868.80 | 1193.97 | 54.4 | 266.1 | 149.1 | Kora North |
The mineral resource estimate (shown in Table 3 and Table 4) for the Kora, Kora North and Irumafimpa deposits is based on the technical report prepared in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”), and titled, “Independent Technical Report, Mineral Resources Ltd. Estimate Update and Preliminary Economic Assessment of Kora North and Kora Gold Deposits, Kainantu Project, Papua New Guinea” with an effective date of September 30, 2018 (the “Technical Report”) prepared by Anthony Woodward BSc (Hons.), M.Sc., MAIG, Simon Tear BSc (Hons), EurGeol, PGeo IGI, EurGeol, Christopher Desoe BE (Min)(Hons), FAusIMM, RPEQ, MMICA, Lisa J. Park, BEng (Chem), GAICD, FAusIMM. Refer to the Company’s news release dated January 8, 2018 for a summary of the results of the PEA.
Table 3 - Kora North Mineral Resource Estimate
| Global Mineral Resources Ltd. Kora North Gold-Copper Mine - October 2018 | |||||||||
| Category | Tonnes | Gold | Silver | Copper | AuEq | ||||
| Mt | g/t | Mozs | g/t | Mozs | % | Mlbs | g/t | Mozs | |
| Measured | 0.15 | 18.7 | 0.09 | 8.9 | 0.04 | 0.5 | 1.6 | 19.6 | 0.09 |
| Indicated | 0.69 | 11.6 | 0.26 | 14.1 | 0.31 | 0.8 | 11.8 | 12.9 | 0.29 |
| Total M & I | 0.85 | 12.9 | 0.35 | 13.1 | 0.36 | 0.7 | 13.3 | 14.1 | 0.39 |
| Inferred Total | 1.92 | 10.7 | 0.66 | 13.3 | 0.82 | 0.7 | 29.5 | 11.9 | 0.74 |
M in table is millions.
Key Assumptions and Parameters
Mineralization comprises two parallel, steeply west dipping, N-S striking quartz-sulphide vein systems, K1 & K2, within an encompassing dilatant structural zone hosted by phyllite. An additional structure, the Kora Link, has also been defined and provides a possible link between the two main vein systems.
Underground drilling consists of diamond core for a range of core sizes depending on length of hole and expected ground conditions. Sampling is sawn half core under geological control and generally ranges between 0.5m and 1m. Underground face sampling is completed for every fired round and is to industry standard.
QAQC data indicated no significant issues with the accuracy of the on-site analysis.
Core recovery of the mineral zone was initially 90%, this has improved to >95%. There is no relationship between core recovery and gold grade.
Geological logging is consistent and is based on a full set of logging codes covering lithology, alteration and mineralization.
The geological interpretation of the vein systems is represented as 3D wireframe solids snapped to a combination of diamond drillhole data and underground face sampling. Definition of the wireframes is based on identified gold mineralisation in drillcore nominally at a 0.2g/t Au cut off in conjunction with geological control/sense and current mining widths.
Gold equivalent (AuEq) g/t was calculated using the formula Au g/t +(Cu% x 1.53) + Ag g/t x 0.0127. (No account of metal recoveries through the plant have been used in calculating the metal equivalent grade. However, production is currently achieving 93% metal recovery for both gold and copper and gold is currently providing 95% and copper 5% of the total revenue of the mine).
Gold price US$1,300/oz; silver US$16.5/oz; copper US$2.90/lb.
Table 4 – Irumafimpa and Kora/Eutompi Resource Estimates
| Resource by Deposit and Category | ||||||||||
| Deposit | Resource Category | Tonnes | Gold | Silver | Copper | Gold Equivalent | ||||
| Mt | g/t | Moz | g/t | Moz | % | Mlb | g/t | Moz | ||
| Irumafimpa | Indicated | 0.56 | 12.8 | 0.23 | 9 | 0.16 | 0.28 | 37 | 13.4 | 0.24 |
| Inferred | 0.53 | 10.9 | 0.19 | 9 | 0.16 | 0.27 | 74 | 11.5 | 0.20 | |
| Kora/Eutompi | Inferred | 4.36 | 7.3 | 1.02 | 35 | 4.9 | 2.23 | 215 | 11.2 | 1.57 |
| Total Indicated | 0.56 | 12.8 | 0.23 | 9 | 0.16 | 0.3 | 4.0 | 13.4 | 0.24 | |
| Total Inferred | 4.89 | 7.7 | 1.21 | 32 | 5.06 | 2.0 | 288 | 11.2 | 1.76 | |
Notes:
- M in table is millions.
- Reported tonnage and grade figures are rounded from raw estimates to reflect the order of accuracy of the estimate. Minor variations may occur during the addition of rounded numbers. Gold equivalents are calculated as AuEq = Au g/t + Cu%*1.52+ Ag g/t*0.0141.
K92 Mine Geology Manager and Mine Exploration Manager, Mr. Andrew Kohler, PGeo, a qualified person under the meaning of NI 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
For further information, please contact Investor Relations at +1-604-687-7130.
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
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.
Photos accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/213e692c-3f8c-4a88-ba0d-55985fa628fb
https://www.globenewswire.com/NewsRoom/AttachmentNg/ea910089-aeda-47d2-a710-a6193badbe87
