K92 Mining announces drilling results at PNG gold mine

Arakompa is near infrastructure, located approximately 4.5 km south-east of the Kainantu Gold Mine’s processing plant, and closer to the process plant than the producing Kora and Judd vein systems, located approximately 3 km south-west of Arakompa.

John Lewins, K92 Chief Executive Officer and Director, stated, “We are very excited to be announcing the first two drill hole results from Arakompa, demonstrating very high potential from both the multiple intersections and significant size potential from surface sampling, drill holes and local workings covering a strike of 1.7 km, a mineralised corridor of approximately 150 – 225 m wide, and a demonstrated vertical extent of over 500 m.

Arakompa is also near infrastructure, located closer to the process plant than Kora and Judd, with relatively gradual terrain for road access up from the Markham Valley, and importantly, represents a highly prospective opportunity to potentially grow production at Kainantu beyond the Stage 4 Expansion.

Plans have already been actioned to expand the programme at Arakompa in the near-term.”

Chris Muller, K92 Executive Vice President Exploration, stated, “The Arakompa project represents another vein system analogous to the Kora-Judd consolidated corridor, with just as much potential. In addition to the high-grade massive sulphide veins, the intervening gold mineralisation at Arakompa is well developed and intimately associated with widespread phyllic alteration likely representing the upper expressions of a fertile porphyry at depth.

Almost all of the 18 holes drilled by former operators, Renison Goldfields Consolidated Limited and Highlands Gold Limited, intersected excellent gold-rich intercepts, even with only 1766 m drilled historically. Though drill tested over a substantial strike length, drilling by these companies only tested the very shallow parts of the veins. Clear indications of the vein system at surface, around 1000 m RL, are a testament to even greater strike potential to the north and exceptional depth extent as well.

The proximity of the Arakompa mineralised corridor to the Kainantu Gold Mine infrastructure, even closer to the Lae-Madang Highway than Kora, is a significant attribute and will enable a major drilling campaign to be carried out cost effectively. We look forward to working with our stakeholders to delineate potentially the next major resource for Papua New Guinea.”

Read the article online at: https://www.globalminingreview.com/exploration-development/27022024/k92-mining-announces-drilling-results-at-png-gold-mine/