K92 Mining Declares Maiden Inferred Resource of 10.8 Million oz AuEq or 4.7 Billion lbs CuEq at the Blue Lake Porphyry
VANCOUVER, British Columbia, Aug. 09, 2022 (GLOBE NEWSWIRE) -- K92 Mining Inc. (“ K92 ” or the “ Company ”) (TSX: KNT ; OTCQB: KNTNF ) is pleased to announce a maiden resource estimate at the Blue Lake porphyry project, located approximately 4 km southwest of the Company’s producing high-grade gold-copper Kora and Judd intrusion-related deposits at the Kainantu Gold Mine in Papua New Guinea. Blue Lake was discovered by K92 after mineralized lithocap was identified in 2017. K92 has completed two diamond drill programs for a total of 26 holes and 16,474.8 metres at the project.
Blue Lake Gold-Copper Porphyry Maiden Mineral Resource Estimate Highlights
- Significant maiden inferred resource estimate declared of 10.8 million ounces gold equivalent (“AuEq”) at 0.61 g/t AuEq or 4.7 billion lbs CuEq at 0.38% CuEq, based on 549 million tonnes at 0.21 g/t Au, 0.23% Cu and 2.42 g/t Ag at a 0.4 g/t AuEq cut-off grade.
- Extensive potential for resource growth as Blue Lake is open at depth, with significant potential for expansion and delineation of the high-grade potassic core (see Figure 5). The Blue Lake porphyry has approximately equal ratios of gold and copper.
- Future exploration plans at Blue Lake include drilling to target expanding the higher-grade core which is open at depth, and exploring for additional mineralized porphyries beneath an extensive composite lithocap that extends to and includes the A1 Porphyry Target (See Figure 5 & 6).
Porphyry exploration is advancing at the A1 Porphyry Target, our highest priority porphyry target based on geophysics completed in late-2021, with an initial soils, rock chip sampling and detailed mapping program commencing shortly, followed by drilling.
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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 programs going forward. In Papua New Guinea, porphyries tend to cluster and there are five other porphyry targets proximal to Blue Lake, with A1 being of the highest priority. Soil sampling at A1 is expected to commence imminently, with diamond drilling planned afterwards. Between our intrusion related gold/copper exploration at Kora, Judd, Kora South and Judd South and our porphyry exploration, we are very excited about the potential at Kainantu
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https://k92mining.com/news/k92…rred-resource-of-10-4504/
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