News, Jan 27, 2017
K92 Mining Inc. (“K92”) (TSX VENTURE:KNT)(OTCQB:KNTNF) is pleased to announce the latest results from the ongoing grade control drilling program at its high grade Kainantu Gold Mine. K92 is currently ramping up the Kainantu Gold Mine towards commercial production, with its longest continuous production run to date now commenced.
In September of 2016, K92 began a campaign of close spaced underground diamond drilling as part of a comprehensive grade control strategy. The current grade control drilling program is focused on the areas of Irumafimpa and is designed to bring a high degree of confidence to the production planning and scheduling. K92 plans to mine this area in the coming six months. The closed space drilling pattern of approximately 15 metres by 15 metres has significantly increased the confidence in this sparsely drilled area, with most holes recording high grade intersections. Approximately 80% of the holes completed to date have recorded multiple high grade intersections indicating the presence of multiple parallel to sub parallel high grade veins.
The results from this drilling are used to finalize the various stope and ore development designs and provide updated information on projected production from the areas in terms of tonnage, grade and contained ounces. The drilled grade control holes are situated at the lowest point in the underground which K92 plans to mine and are also at the southern edge of the known resource that was previously only drilled on a 100 metre by 100 metre pattern.
K92 Chief Executive Officer, Ian Stalker, states, “In the context of K92 moving towards achieving Commercial Production, these high grade results are extremely pleasing as they confirm the continuity of the high grade system previously reported in the first six holes. The holes were drilled from an area at the southern extremity of the resource where data is limited and significantly lower grades were expected. The results also show consistent evidence of multiple parallel high grade veins within close proximity to each other, providing the potential for several veins to be mined from the same underground access.”
Table 1 and 2 below provides a summary of the results from diamond grade control holes seven to twenty one which have been drilled into the stope areas it is planned to be mined underground. Table 1 provides a summary of the significant intercepts from the holes, while Table 2 provides details of collar location and hole orientation (drill hole GCDD0020a was drilled parallel to and within 5 metres of hole GCDD0020 as this hole did not go to full depth for technical reasons).
Table 1 Kainantu Gold Mine – Significant Intercepts from Irumafimpa Grade Control
Table 2 Kainantu Gold Mine – Collar Locations for Irumafimpa Grade Control Drilling
K92 Geologist Andrew Kohler, BSc, P.Geo., 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.
On behalf of the company,
Ian Stalker, Chief Executive Officer and Director
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