K92 mine announces large mineral find

K92 MINING Inc says there is a maiden mineral resource porphyry at Blue Lake, after the initial discovery by the company in 2017.
K92 vice-president exploration Chris Muller said the Blue Lake porphyry is evidently a very large, well-mineralised system, with a number of overprinting events that have introduced gold and copper.
“In particular, those which are manifested as quartz stockwork veins and bornite mineralisation will be the focus of ongoing drill targeting at Blue Lake,” he said.
“A very expansive silica-clay lithocap connecting Blue Lake with the A1 prospect is virtually untested by drilling and has the potential to host multiple gold-copper mineralised porphyries.
“This resource declaration is the fifth largest known mineralised porphyry in Papua New Guinea in terms of pre-mined contained gold equivalent ounces, after the world famous Wafi-Golpu, Panguna, Ok Tedi and Frieda River porphyry deposits.
“It is truly remarkable to be able to look down upon the Lae-Madang Highway, a major transport route to the Lae international port, while standing on an outcropping undeveloped resource containing in excess of 10 million gold equivalent ounces, and as much as 15 million ounces using a lower cut-off grade.”
K92 CEO and director John Lewins, added: “The maiden resource estimate at Blue Lake is a major accomplishment, defining a large-scale, potentially commercial gold-copper porphyry proximal to our high-grade Kainantu underground mine.
“Importantly, we believe Blue Lake is only the tip of the porphyry iceberg at Kainantu and have gained a tremendous amount of knowledge for our porphyry exploration programmes going forward.”