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Kainantu Resources advances KRL North exploration

Published by
Global Mining Review,


Kainantu Resources Ltd, an Asia-Pacific focused gold mining company, has provided an update on exploration activities at KRL North, the company’s highly prospective tenements located in the NE of the Kainantu region, Papua New Guinea (PNG).

Highlights

  • Adjacent to the Bilimoia Mineral Field, KRL North borders on and shares similar geological attributes to the high-grade gold deposits currently being mined by K92 Mining Inc. (K92).
  • The company has embarked on a comprehensive stream sediment and soil sampling programme to identify further potential porphyry related alteration and mineralisation targets within KRL North.
  • On strike and along trend of the world-renowned Kainantu Transfer Structure, two identified significant mineralised vein systems (Manipoe and Arakompa) are 2 – 4 km SE of KRL North (with a conceptual mineralising porphyry source underlying the ground between Arakompa and the SW corner of KRL North).
  • After an extensive community awareness programme resulting in strong community support, the company has successfully established long term access arrangements with local landholders, as a key milestone event in the field activities at KRL North.

Matthew Salthouse, CEO of KRL, commented: “The proximity and central location of KRL North to known high-grade mining activities makes the project highly prospective for ongoing investigation. Concluding access arrangements with the communities of KRL North is a key milestone event ahead of field work. We foresee encouraging results in coming months to add to the company’s pipeline of activities and news flow.”

Read the article online at: https://www.globalminingreview.com/exploration-development/21042021/kainantu-resources-advances-krl-north-exploration/

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Asian mining news Gold mining news