First drill ‘outstanding’

THE first exploration hole drilled to test for extensions of the Kora Deposit in Eastern Highlands has intersected high-grade gold mineralisation, according to the K92 Mining Inc.
The company said the intersection was around 500 metres “along strike” and 150 metres “down dip” from the closest point of the currently defined Kora Deposit Inferred Resource.
The Kora drive is designed to provide access to the Kora deposit, where K92 is assessing the start of production in the first half of 2018.
It is providing the company with the ability to drill test between Irumafimpa and Kora from underground drill cuddies.
This area has not been previously tested due to topographical challenges associated with drilling from the surface and is considered highly prospective given the current interpretation of Irumafimpa and Kora being on the same structure.
K92 chief executive officer Ian Stalker said: “The results from the first hole drilled by K92 on the Kora Vein System and first drilled from underground can only be described as outstanding.
“Based on the interpretation of our geological team we have an intersection of 5.4 metres at 14.1 g/t AuEq from some 500 metres along strike and 150 metres down dip from the known Kora Inferred Resource. The implication is that there is potential for this high grade Kora deposit to become much larger.
“With today’s results in hand, we will push the Kora drive at an increased pace and with an expanded drilling programme.”
K92 Mining has started gold production at the Irumafimpa gold deposit, which together with the Kora gold deposit, is part of the company’s Kainantu gold project.