VANCOUVER, British Columbia, Sept. 11, 2025 (GLOBE NEWSWIRE) -- K92 Mining Inc. ("K92" or the "Company") (TSX: KNT; OTCQX: KNTNF) is pleased to announce its fifth set of drilling results consisting of 24 holes for total results of 67 holes released to date from its maiden surface diamond drill program at Arakompa, located approximately 4.5 km from the Kainantu Gold Mine Process Plant in Papua New Guinea. Additionally, K92 is pleased to report initial results from its maiden greenfields exploration program at the Wera prospect, outlining a large 3.5 km by 3.5 km mineralized system located approximately 10 km South-West of the Kora and Judd deposits.
- Drillhole KARDD0065, stepping out approximately 250 metres to the south from the latest results at Arakompa, has discovered significant porphyry-style mineralization recording 690.4 metres at 0.30% Copper Equivalent ("CuEq")(2) (0.17 g/t Au, 0.17% Cu, 2 g/t Ag) starting at 297.0 metres, including 395.3 metres at 0.38% CuEq (0.24 g/t Au, 0.20% Cu, 2 g/t Ag) starting at 349.7 metres. The hole was designed with two objectives: (i) to test the strike extension at Arakompa; and (ii) to be the first hole drilled to test a 600 metre by 600 metre copper-in-soil anomaly. Intersected mineralization occurred as disseminated sulphides, with vein-hosted and vein-controlled sulphide mineralization present. The sulphide mineralization is dominantly chalcopyrite, with minor bornite and molybdenite also observed. Porphyry-style B, D, and M-type quartz sulphide veins are also present. The intersection is interpreted to be distal to a porphyry potassic core, bottomed in mineralization, and represents a very significant vector for follow-up drilling, which is underway.
- Significant extension of the Arakompa bulk tonnage zone strike extent to the north and the south, with the bulk zone now defined over approximately 1,100 metres and to a vertical depth of 800 metres, increasing 200 metres strike and 150 metres depth from the February 20, 2025 press release, respectively. Drill results to date have recorded an average true thickness of 39 metres, highlighting strong, near-surface bulk mining potential (see Figure 5 - Arakompa Bulk Interpretation Long Section). The interpreted bulk zone consists of a thick, intensely altered mineralized halo surrounding the high-grade vein lodes and it remains open in multiple directions.
- Latest drilling highlights include:
- KARDD0061: 96.10 m at 2.64 g/t AuEq (2.48 g/t Au, 4 g/t Ag, 0.07% Cu)
- KARDD0046: 62.20 m at 1.08 g/t AuEq (0.87 g/t Au, 5 g/t Ag, 0.10% Cu)
- KARDD0067: 48.30 m at 1.34 g/t AuEq (0.80 g/t Au, 5 g/t Ag, 0.30% Cu)
- KARDD0052: 75.40 m at 1.04 g/t AuEq (0.58 g/t Au, 5 g/t Ag, 0.25% Cu)
- KARDD0041: 32.50 m at 1.73 g/t AuEq (1.06 g/t Au, 43 g/t Ag, 0.11% Cu)
- KARDD0056 (~100 m northern step-out along strike): 72.10 m at 1.00 g/t AuEq (0.80 g/t Au, 10 g/t Ag, 0.05% Cu)
- KARDD0065 (~250 m southern step-out along strike): 49.20 m at 1.15 g/t AuEq (0.82 g/t Au, 4 g/t Ag, 0.18% Cu)
- Latest drilling highlights include:
- The latest drilling results have enabled the reinterpretation of multiple historic drill holes, enhancing our confidence in the continuity of the bulk zone. Reinterpreted historic bulk intercepts include:
- 004AD92: 55.50 m at 2.57 g/t AuEq (2.43 g/t Au, 3 g/t Ag, 0.07% Cu)
- 016AD92: 37.20 m at 3.56 g/t AuEq (3.00 g/t Au, 9 g/t Ag, 0.29% Cu)
- 010AD92: 38.00 m at 2.83 g/t AuEq (2.66 g/t Au, 3 g/t Ag, 0.08% Cu)
- 014AD92: 36.00 m at 2.76 g/t AuEq (2.61 g/t Au, 7 g/t Ag, 0.04% Cu)
- 005AD92: 41.90 m at 2.20 g/t AuEq (2.12 g/t Au, 2 g/t Ag, 0.04% Cu)
- 013AD92: 24.00 m at 3.65 g/t AuEq (3.53 g/t Au, 3 g/t Ag, 0.06% Cu)
- 001AD92: 36.80 m at 2.38 g/t AuEq (2.31 g/t Au, 2 g/t Ag, 0.03% Cu)
- Significant expansion of potential high-grade thick zone by ~100 metres vertical (see Figure 2 Long Section), with the latest intercept recording:
- KARDD0061: 7.06 m at 27.92 g/t AuEq (27.48 g/t Au, 18 g/t Ag, 0.15% Cu), including 2.60 m at 65.50 g/t AuEq (64.60 g/t Au, 42 g/t Ag, 0.27% Cu)
- When combined with the three intersections previously reported and shown below, the zone has a substantial average true thickness of 7.3 metres with a vertical extent of 200 metres. Intersections from previous releases include:
- KARDD0038: 14.50 m at 17.33 g/t AuEq (17.17 g/t Au, 4 g/t Ag, 0.07% Cu), including 6.90 m at 34.99 g/t AuEq (34.73 g/t Au, 7 g/t Ag, 0.11% Cu)
- KARDD0029: 20.60 m at 9.87 g/t AuEq (8.90 g/t Au, 29 g/t Ag, 0.38% Cu), including 10.70 m at 14.97 g/t AuEq (13.81 g/t Au, 25 g/t Ag, 0.53% Cu)
- KARDD0025: 12.00 m at 11.16 g/t AuEq (10.49 g/t Au, 11 g/t Ag, 0.33% Cu)
- Multiple other high-grade intersections recorded at both the AR1 Vein and AR2 Vein, including:
- AR1 Vein:
- KARDD0041: 8.00 m at 5.65 g/t AuEq (3.28 g/t Au, 170 g/t Ag, 0.25% Cu)
- KARDD0052: 2.20 m at 8.12 g/t AuEq (4.71 g/t Au, 51 g/t Ag, 1.81% Cu) within
6.60 m at 3.66 g/t AuEq (2.31 g/t Au, 19 g/t Ag, 0.72% Cu)
- AR1 Vein:
- AR2 Vein:
- KARDD0048: 1.60 m at 11.24 g/t AuEq (11.15 g/t Au, 2 g/t Ag, 0.04% Cu)
- KARDD0054: 1.20 m at 10.21 g/t AuEq (9.85 g/t Au, 8 g/t Ag, 0.17% Cu) within
6.40 m at 2.42 g/t AuEq (2.21 g/t Au, 4 g/t Ag, 0.10% Cu)
- KARDD0056: 7.70 m at 6.02 g/t AuEq (5.25 g/t Au, 61 g/t Ag, 0.04% Cu), including
1.50 m at 24.90 g/t AuEq (22.29 g/t Au, 224 g/t Ag, 0.01% Cu)
- Maiden greenfields exploration program initially focused on rock chips and trenching at Wera has defined a large ~3.5 kilometre by ~3.5 kilometre low-sulphidation epithermal gold system located approximately 10 km south-west of the Kora and Judd deposits, with several interpreted mineralized structures and high-grade rock chip samples including 26.30 g/t Au, 25.06 g/t Au, 23.97 g/t Au, 22.06 g/t Au, 19.69 g/t Au, 19.23 g/t Au, 18.40 g/t Au, 18.40 g/t Au, 18.03 g/t Au, 16.05 g/t Au, 13.83 g/t Au, 11.09 g/t Au, 10.88 g/t Au, and 10.21 g/t Au (See Figure 8 Wera Plan Map). Importantly, this area was not accessed or tested by previous owners and lies within the major NNE regional mineralized structural corridor that hosts the Kora, Judd and Arakompa deposits. Drilling is now underway.
Notes:
(1) Drill highlights presented above are core lengths (not true widths).
(2) Gold equivalent (AuEq) and Copper Equivalent (CuEq) exploration results are calculated using longer-term commodity prices with a copper price of US$4.50/lb, a silver price of US$27.5/oz and a gold price of US$2,000/oz. For AuEq, the following recoveries were applied in-line with the Updated Definitive Feasibility Study: Au - 92.6%, Cu - 94.0%, and; Ag - 78.0%. For CuEq, Metallurgical recoveries and net smelter returns are not considered.
John Lewins, K92 Chief Executive Officer and Director, stated, "We are extremely pleased with the progress achieved through our latest regional exploration results, delivering multiple high-grade intersections at Arakompa, significantly expanding the bulk zone, and on the first deep drill hole discovering a potential porphyry within a 600 m x 600 m copper-in-soils anomaly. The large 3.5 km x 3.5 km mineralized system discovered from our maiden greenfields fieldwork at Wera has also created yet another sizeable target-rich area to explore, and it's only 10 km from Kora.
These new discoveries align well with the arrival of two new surface diamond drill rigs scheduled for late-Q4/early-Q1 2026 delivery. The additional drilling capacity will support our strategy to significantly ramp up exploration over the next two years and potentially beyond. A second hole targeting the potential porphyry is now underway, and in addition, a contractor rig has been brought in to expand our fleet and has already commenced drilling at Wera. We look forward to providing updates in due course."
Robert Smillie, K92 Vice President of Exploration, stated, "We are very excited by the continued exploration success at Arakompa as we advance towards a maiden mineral resource. Drilling so far has only tested just over half of the +2 km strike length of the Arakompa corridor and we are very encouraged by the porphyry potential to the south from the latest drill results from hole KARDD0065. Follow-up drilling to the south of KARDD0065 is underway, which is designed to vector towards a potential higher grade potassic core of the system.
Furthermore, we are beginning to drill test the large newly discovered mineralized vein system identified at Wera following the high-grade rock chip and trench samples, which is open along strike in both directions. We are excited by the potential of this new greenfields discovery by the K92 Exploration Team supported by the demonstrated regional prospectivity of the mineralized corridor which also hosts the Kora, Judd and Arakompa deposits."
Arakompa Vein System Background
The Arakompa project is interpreted to be an intrusive related gold-copper-silver epithermal vein system with similarities to the producing Kora and Judd vein systems. A significant difference at Arakompa is that it is hosted in tonalite to dioritic rock, whereas Kora and Judd are hosted predominantly in metasediments (phyllite).
Mineralization at Arakompa is in pronounced vein lodes but is also widespread across a very broad envelope, hosted in strongly altered tonalite and diorite. This has been interpreted to have resulted from collapsing argillic and advanced argillic alteration, and the propylitic alteration of the basement tonalite are interpreted to originate from the intrusion of a large magmatic porphyry body. Phyllic alteration appears to be associated with gold mineralization, providing a large halo (at least 100 m wide) around the vein corridor. There has likely been an upwelling of phyllic alteration from the porphyry into the high-grade veins. This has resulted in mineralization between the veins, providing the potential for bulk mining.
Multi-stage mineralizing events with several phases of quartz-sulphide development are apparent within the veins themselves. The sequence of early quartz deposited from a mesothermal dilute fluid followed by pyrite-copper-gold ± Bi-Te-Pb-Zn-Sn mineralization at Arakompa has many similarities to the same events encountered at Kora and Judd.
The main sulphides are pyrite, chalcopyrite, bornite and bismuthinite. As at Kora, chalcopyrite forms late, overprinting early phases of pyrite. Gold is documented in petrological reports and shown in photomicrographs as occurring in quartz, or often as inclusions overgrown by chalcopyrite.
Porphyry evidence is widespread at Arakompa. Localized, high-level B veins (quartz with centerline pyrite) are present, typical of the upper parts of a porphyry system. Magnetite-epidote alteration represents classic prograde porphyry assemblages, indicative of the inner propylitic shell. Chalcocite is also locally present, suggesting an underlying copper-enriched body.
Surface field work completed historically and by K92 has demonstrated that the target size of Arakompa is significant, with mineralization observed from drill holes, rock samples and surface workings for at least 2.0 km of strike, hosted within an approximately 400 metre wide mineralized intense phyllic altered package, and a vertical extent of over 800 metres.
Wera Vein System Background
The Wera Project is interpreted as a gold-bearing, low-sulphidation epithermal system hosted within diorite-tonalite intrusives. It is accessible by road and located approximately 10 kilometres southwest of Kora.
K92 Mining identified Wera as a target area following results from a Mobile MT survey and a review of historic exploration data. Field programs commenced in July 2024 and have included geological mapping, rock chip sampling, soil sampling, and trenching.
Mineralization at Wera occurs within quartz veins exhibiting classic low-sulphidation epithermal textures. Alteration is largely restricted to narrow halos around the veins, dominated by phyllic and silica assemblages. Rock chip, soil, and trench samples have returned anomalous levels of arsenic, antimony, thallium, molybdenum, and tungsten, pathfinder elements typically found near the upper levels of low-sulphidation systems.
A scout diamond drilling program is currently underway. This marks the first major drill campaign at Wera, designed to test the interpreted vein system near surface and provide critical information to guide subsequent, deeper drilling.
Figures
A plan map for Arakompa is provided in Figure 1.
A cross section showing KARDD0025, KARDD0029, KARDD0038 and KARDD0061 at Arakompa is provided in Figure 2.
A cross section showing KARDD0056 and KARDD0059 at Arakompa is provided in Figure 3.
A cross section showing KARDD0030, KARDD0033, KARDD0048 and KARDD0067 at Arakompa is provided in Figure 4.
A long section showing Arakompa bulk intercepts and gram metre contours is provided in Figure 5.
Long sections of AR1 and AR2 Veins showing the location of the latest drill holes are provided in Figures 6 and 7, respectively.
A plan map for Wera showing rock chip samples is provided in Figure 8.
A regional location map is provided in Figure 9.
Core photograph of drill hole KARDD0061 is provided in Figure 10.
Photograph of Wera rock chip samples is provided in Figure 11.
Table 1
Significant Intercepts from Arakompa Diamond Drilling
| Hole ID | From (m) | To (m) | Interval (m) | True width (m) | Gold g/t | Silver g/t | Copper % | Gold Eq | Vein |
| KARDD0041 | 407.50 | 440.00 | 32.50 | 19.50 | 1.06 | 43 | 0.11 | 1.73 | Bulk Intersection |
| KARDD0041 | 373.00 | 374.60 | 1.60 | 0.96 | 4.77 | 4 | 0.05 | 4.89 | AR2 |
| KARDD0041 | 407.50 | 415.50 | 8.00 | 4.80 | 3.28 | 170 | 0.25 | 5.65 | AR1 |
| including | 407.50 | 411.00 | 3.50 | 2.10 | 5.74 | 385 | 0.51 | 10.99 | AR1 |
| KARDD0041 | 519.30 | 521.60 | 2.30 | 1.38 | 1.68 | 15 | 1.00 | 3.42 | |
| KARDD0045 | 462.10 | 475.40 | 13.30 | 9.71 | 0.84 | 4 | 0.10 | 1.03 | Bulk Intersection |
| KARDD0045 | 470.50 | 474.15 | 3.65 | 2.66 | 2.31 | 8 | 0.16 | 2.65 | AR1 |
| KARDD0046 | 329.40 | 391.60 | 62.20 | 49.76 | 0.87 | 5 | 0.10 | 1.08 | Bulk Intersection |
| KARDD0046 | 332.80 | 338.30 | 5.50 | 4.40 | 2.88 | 5 | 0.15 | 3.17 | AR1 |
| KARDD0046 | 346.00 | 348.60 | 2.60 | 2.08 | 2.56 | 16 | 0.59 | 3.66 | |
| KARDD0046 | 369.50 | 375.60 | 6.10 | 4.88 | 2.12 | 3 | 0.09 | 2.29 | |
| KARDD0047 | 123.90 | 185.90 | 62.00 | 42.78 | 0.19 | 13 | 0.02 | 0.37 | Bulk Intersection |
| KARDD0047 | 294.20 | 319.60 | 25.40 | 17.53 | 1.23 | 8 | 0.13 | 1.52 | Bulk Intersection |
| KARDD0047 | 154.80 | 155.80 | 1.00 | 0.69 | 0.09 | 540 | 0.25 | 6.73 | AR1 |
| KARDD0047 | 307.60 | 311.40 | 3.80 | 2.62 | 6.38 | 44 | 0.61 | 7.84 | |
| KARDD0048 | 378.00 | 423.42 | 45.42 | 32.25 | 0.99 | 1 | 0.03 | 1.05 | Bulk Intersection |
| KARDD0048 | 215.10 | 216.30 | 1.20 | 0.85 | 11.80 | 3 | 0.00 | 11.84 | |
| KARDD0048 | 234.20 | 235.10 | 0.90 | 0.64 | 13.65 | 3 | 0.01 | 13.70 | |
| KARDD0048 | 393.70 | 395.30 | 1.60 | 1.14 | 11.15 | 2 | 0.04 | 11.24 | AR2 |
| KARDD0048 | 413.00 | 417.80 | 4.80 | 3.41 | 3.11 | 1 | 0.06 | 3.22 | AR1 |
| KARDD0049 | 320.60 | 351.80 | 31.20 | 22.15 | 1.17 | 3 | 0.11 | 1.38 | Bulk Intersection |
| KARDD0049 | 334.00 | 342.50 | 8.50 | 6.04 | 1.13 | 6 | 0.23 | 1.55 | |
| KARDD0049 | 345.10 | 351.80 | 6.70 | 4.76 | 3.35 | 2 | 0.11 | 3.55 | AR1 |
| including | 345.10 | 346.20 | 1.10 | 0.78 | 14.45 | 6 | 0.19 | 14.80 | AR1 |
| KARDD0050 | 612.00 | 637.30 | 25.30 | 18.98 | 0.61 | 5 | 0.21 | 1.00 | Bulk Intersection |
| KARDD0050 | 93.70 | 98.70 | 5.00 | 3.75 | 1.17 | 11 | 0.11 | 1.48 | |
| KARDD0050 | 290.10 | 297.30 | 7.20 | 5.40 | 0.41 | 14 | 0.20 | 0.88 | |
| KARDD0050 | 351.70 | 358.00 | 6.30 | 4.73 | 1.26 | 6 | 0.05 | 1.40 | |
| KARDD0050 | 409.10 | 410.20 | 1.10 | 0.82 | 2.94 | 1 | 0.02 | 2.97 | |
| KARDD0050 | 466.00 | 467.40 | 1.40 | 1.05 | 2.69 | 21 | 0.21 | 3.26 | |
| KARDD0050 | 530.10 | 537.40 | 7.30 | 5.47 | 0.98 | 6 | 0.14 | 1.27 | AR2 |
| KARDD0050 | 580.00 | 586.10 | 6.10 | 4.58 | 1.11 | 5 | 0.32 | 1.68 | AR1 |
| KARDD0050 | 622.00 | 626.20 | 4.20 | 3.15 | 1.12 | 9 | 0.35 | 1.76 | |
| KARDD0050 | 633.00 | 634.40 | 1.40 | 1.05 | 3.11 | 28 | 1.06 | 5.10 | |
| KARDD0051 | 394.30 | 409.20 | 14.90 | 11.18 | 0.59 | 5 | 0.23 | 1.01 | Bulk Intersection |
| KARDD0051 | 388.40 | 389.20 | 0.80 | 0.60 | 0.79 | 6 | 0.44 | 1.55 | |
| KARDD0051 | 395.30 | 398.10 | 2.80 | 2.10 | 1.48 | 6 | 0.52 | 2.37 | AR2 |
| KARDD0051 | 403.20 | 408.00 | 4.80 | 3.60 | 0.68 | 10 | 0.34 | 1.33 | |
| KARDD0051 | 501.20 | 501.70 | 0.50 | 0.38 | 2.39 | 6 | 0.01 | 2.47 | |
| KARDD0051 | 509.70 | 510.70 | 1.00 | 0.75 | 2.82 | 45 | 0.83 | 4.65 | |
| KARDD0051 | 524.00 | 525.10 | 1.10 | 0.83 | 2.34 | 29 | 0.33 | 3.20 | |
| KARDD0052 | 533.00 | 608.40 | 75.40 | 45.24 | 0.58 | 5 | 0.25 | 1.04 | Bulk Intersection |
| KARDD0052 | 111.10 | 112.20 | 1.10 | 0.66 | 2.37 | 22 | 0.17 | 2.88 | |
| KARDD0052 | 372.00 | 375.00 | 3.00 | 1.80 | 0.91 | 17 | 0.22 | 1.45 | |
| KARDD0052 | 542.40 | 546.30 | 3.90 | 2.34 | 0.74 | 35 | 0.20 | 1.46 | AR2 |
| KARDD0052 | 557.70 | 562.00 | 4.30 | 2.58 | 0.73 | 4 | 0.45 | 1.47 | |
| KARDD0052 | 590.20 | 592.00 | 1.80 | 1.08 | 1.02 | 5 | 0.18 | 1.37 | |
| KARDD0052 | 601.80 | 608.40 | 6.60 | 3.96 | 2.31 | 19 | 0.72 | 3.66 | AR1 |
| including | 606.20 | 608.40 | 2.20 | 1.32 | 4.71 | 51 | 1.81 | 8.12 | AR1 |
| KARDD0053 | 480.40 | 490.00 | 9.20 | 6.90 | 0.88 | 1 | 0.11 | 1.06 | Bulk Intersection |
| KARDD0053 | 130.00 | 132.10 | 2.10 | 1.58 | 1.80 | 35 | 0.27 | 2.62 | |
| KARDD0053 | 461.30 | 466.00 | 4.70 | 3.53 | 0.97 | 3 | 0.08 | 1.12 | AR1 |
| KARDD0053 | 480.80 | 489.00 | 8.20 | 6.15 | 0.93 | 1 | 0.11 | 1.12 | |
| KARDD0054 | 310.40 | 328.40 | 18.00 | 13.50 | 0.90 | 2 | 0.04 | 1.00 | Bulk Intersection |
| KARDD0054 | 182.60 | 184.90 | 2.30 | 1.73 | 0.69 | 16 | 0.11 | 1.04 | |
| KARDD0054 | 317.90 | 324.30 | 6.40 | 4.80 | 2.21 | 4 | 0.10 | 2.42 | AR2 |
| including | 323.10 | 324.30 | 1.20 | 0.90 | 9.85 | 8 | 0.17 | 10.21 | AR2 |
| KARDD0055 | 572.20 | 592.00 | 19.80 | 13.86 | 0.88 | 2 | 0.08 | 1.02 | Bulk Intersection |
| KARDD0055 | 643.40 | 659.80 | 16.40 | 11.48 | 0.54 | 4 | 0.27 | 1.02 | Bulk Intersection |
| KARDD0055 | 299.00 | 300.30 | 1.30 | 0.91 | 2.15 | 24 | 0.38 | 3.03 | |
| KARDD0055 | 572.20 | 575.80 | 3.60 | 2.52 | 3.80 | 3 | 0.13 | 4.05 | AR2 |
| KARDD0055 | 617.40 | 618.00 | 0.60 | 0.42 | 1.39 | 14 | 0.90 | 2.96 | AR1 |
| KARDD0055 | 644.40 | 647.10 | 2.70 | 1.89 | 0.63 | 3 | 0.27 | 1.09 | |
| KARDD0055 | 650.90 | 656.10 | 5.20 | 3.64 | 1.03 | 10 | 0.56 | 2.02 | |
| KARDD0055 | 658.60 | 659.80 | 1.20 | 0.84 | 1.15 | 2 | 0.14 | 1.39 | |
| KARDD0056 | 345.50 | 417.60 | 72.10 | 51.91 | 0.80 | 10 | 0.05 | 1.00 | Bulk Intersection |
| KARDD0056 | 345.50 | 346.90 | 1.40 | 1.01 | 1.51 | 32 | 0.25 | 2.27 | |
| KARDD0056 | 353.50 | 361.20 | 7.70 | 5.54 | 5.25 | 61 | 0.04 | 6.02 | AR2 |
| including | 353.50 | 355.00 | 1.50 | 1.08 | 22.29 | 224 | 0.01 | 24.90 | AR2 |
| KARDD0056 | 375.60 | 377.70 | 2.10 | 1.51 | 1.54 | 34 | 0.19 | 2.23 | |
| KARDD0056 | 410.20 | 412.30 | 2.10 | 1.51 | 0.73 | 7 | 0.34 | 1.35 | AR1 |
| KARDD0056 | 481.50 | 485.30 | 3.80 | 2.74 | 0.91 | 14 | 0.20 | 1.38 | |
| KARDD0056 | 528.60 | 534.60 | 6.00 | 4.32 | 0.34 | 24 | 0.38 | 1.21 | |
| KARDD0057 | 588.80 | 711.10 | 122.30 | 88.06 | 0.16 | 2 | 0.18 | 0.46 | Bulk Intersection |
| KARDD0057 | 127.90 | 133.10 | 5.20 | 3.74 | 5.06 | 26 | 0.14 | 5.57 | |
| KARDD0057 | 317.20 | 319.00 | 1.80 | 1.30 | 1.69 | 31 | 0.44 | 2.74 | |
| KARDD0057 | 493.60 | 495.30 | 1.70 | 1.22 | 1.13 | 14 | 0.28 | 1.72 | AR2 |
| KARDD0057 | 551.20 | 551.70 | 0.50 | 0.36 | 5.17 | 38 | 2.17 | 9.01 | AR1 |
| KARDD0057 | 616.10 | 617.60 | 1.50 | 1.08 | 0.67 | 35 | 0.35 | 1.62 | |
| KARDD0058 | 427.10 | 483.80 | 56.70 | 40.82 | 0.39 | 2 | 0.08 | 0.54 | Bulk Intersection |
| KARDD0058 | 141.50 | 142.70 | 1.20 | 0.86 | 5.34 | 29 | 0.25 | 6.06 | |
| KARDD0058 | 361.80 | 363.60 | 1.80 | 1.30 | 0.96 | 3 | 0.04 | 1.06 | |
| KARDD0058 | 427.10 | 428.70 | 1.60 | 1.15 | 1.09 | 2 | 0.20 | 1.42 | AR2 |
| KARDD0058 | 441.20 | 442.50 | 1.30 | 0.94 | 0.87 | 1 | 0.13 | 1.10 | |
| KARDD0058 | 480.20 | 483.80 | 3.60 | 2.59 | 1.04 | 3 | 0.10 | 1.22 | AR1 |
| KARDD0059 | 476.00 | 498.20 | 22.20 | 15.98 | 0.72 | 5 | 0.16 | 1.02 | Bulk Intersection |
| KARDD0059 | 281.30 | 283.40 | 2.10 | 1.51 | 0.78 | 29 | 0.46 | 1.83 | |
| KARDD0059 | 353.80 | 357.20 | 3.40 | 2.45 | 0.93 | 12 | 0.02 | 1.11 | |
| KARDD0059 | 459.50 | 460.20 | 0.70 | 0.50 | 4.18 | 39 | 1.00 | 6.21 | AR2 |
| KARDD0059 | 489.60 | 493.30 | 3.70 | 2.66 | 3.34 | 22 | 0.84 | 4.92 | AR1 |
| KARDD0060 | 608.70 | 633.60 | 24.90 | 16.19 | 0.45 | 8 | 0.30 | 1.01 | Bulk Intersection |
| KARDD0060 | 462.00 | 466.60 | 4.60 | 2.99 | 1.34 | 10 | 0.16 | 1.70 | |
| KARDD0060 | 476.70 | 478.50 | 1.80 | 1.17 | 1.97 | 46 | 0.83 | 3.80 | AR1 |
| KARDD0060 | 501.10 | 503.00 | 1.90 | 1.24 | 3.72 | 21 | 0.52 | 4.78 | |
| KARDD0060 | 541.50 | 543.70 | 2.20 | 1.43 | 0.48 | 14 | 0.31 | 1.14 | |
| KARDD0060 | 614.00 | 618.40 | 4.40 | 2.86 | 1.39 | 24 | 0.54 | 2.51 | |
| KARDD0061 | 343.00 | 439.10 | 96.10 | 76.88 | 2.48 | 4 | 0.07 | 2.64 | Bulk Intersection |
| KARDD0061 | 343.00 | 345.00 | 2.00 | 1.60 | 3.78 | 3 | 0.03 | 3.86 | |
| KARDD0061 | 374.30 | 375.50 | 1.20 | 0.96 | 0.80 | 5 | 1.24 | 2.80 | AR2 |
| KARDD0061 | 414.60 | 421.66 | 7.06 | 5.65 | 27.48 | 18 | 0.15 | 27.92 | AR1 |
| including | 416.50 | 419.10 | 2.60 | 2.08 | 64.60 | 42 | 0.27 | 65.50 | AR1 |
| KARDD0061 | 431.10 | 431.50 | 0.40 | 0.32 | 14.90 | 5 | 0.02 | 14.99 | |
| KARDD0061 | 437.20 | 438.10 | 0.90 | 0.72 | 13.01 | 48 | 1.36 | 15.70 | |
| KARDD0062 | 334.60 | 367.40 | 11.90 | 9.52 | 0.69 | 7 | 0.15 | 1.00 | Bulk Intersection |
| KARDD0062 | 334.60 | 337.80 | 3.20 | 2.56 | 1.25 | 17 | 0.08 | 1.57 | AR2 |
| KARDD0062 | 341.70 | 346.50 | 4.80 | 3.84 | 0.76 | 5 | 0.28 | 1.25 | |
| KARDD0062 | 362.20 | 367.40 | 5.20 | 4.16 | 0.79 | 11 | 0.28 | 1.35 | AR1 |
| KARDD0062 | 493.70 | 495.60 | 1.90 | 1.52 | 0.74 | 11 | 0.03 | 0.92 | |
| KARDD0063 | 503.80 | 514.50 | 10.70 | 7.49 | 0.97 | 4 | 0.11 | 1.20 | Bulk Intersection |
| KARDD0063 | 291.00 | 292.10 | 1.10 | 0.77 | 5.84 | 10 | 0.11 | 6.12 | |
| KARDD0063 | 471.60 | 473.00 | 1.40 | 0.98 | 2.83 | 7 | 0.11 | 3.09 | AR1 |
| KARDD0063 | 476.40 | 476.90 | 0.50 | 0.35 | 8.25 | 16 | 0.15 | 8.68 | |
| KARDD0063 | 510.50 | 514.50 | 4.00 | 2.80 | 2.12 | 5 | 0.16 | 2.44 | |
| KARDD0064 | 387.70 | 414.00 | 26.30 | 19.99 | 0.62 | 6 | 0.17 | 0.96 | Bulk Intersection |
| KARDD0064 | 355.60 | 356.90 | 1.30 | 0.99 | 2.16 | 18 | 0.32 | 2.86 | |
| KARDD0064 | 387.70 | 390.00 | 2.30 | 1.75 | 4.49 | 18 | 0.57 | 5.59 | AR1 |
| KARDD0064 | 408.30 | 410.00 | 1.70 | 1.29 | 0.76 | 13 | 0.27 | 1.33 | |
| KARDD0065 | 297.00 | 987.4 | 690.40 | 641.30 | 0.17 | 2 | 0.17 | 0.30% CuEq | Bulk Porphyry-style Intersection |
| including | 349.70 | 745.00 | 395.30 | 363.38 | 0.24 | 2 | 0.20 | 0.38% CuEq | Bulk Porphyry-style Intersection |
| including | 429.80 | 479.00 | 49.20 | 37.39 | 0.82 | 4 | 0.18 | 1.15 | Bulk Intersection |
| KARDD0065 | 429.80 | 435.90 | 6.10 | 4.64 | 3.33 | 21 | 0.36 | 4.14 | AR1 |
| KARDD0065 | 446.10 | 452.80 | 6.70 | 5.09 | 1.31 | 2 | 0.16 | 1.59 | |
| KARDD0065 | 476.70 | 479.00 | 2.30 | 1.75 | 2.96 | 8 | 1.05 | 4.70 | |
| KARDD0066 | 435.80 | 484.60 | 48.80 | 37.09 | 0.26 | 3 | 0.02 | 0.32 | Bulk Intersection |
| KARDD0066 | 221.60 | 223.20 | 1.60 | 1.22 | 0.79 | 6 | 0.06 | 0.96 | |
| KARDD0066 | 379.60 | 381.40 | 1.80 | 1.37 | 0.73 | 8 | 0.16 | 1.07 | AR2 |
| KARDD0066 | 405.20 | 406.80 | 1.60 | 1.22 | 0.46 | 8 | 0.01 | 0.56 | AR1 |
| KARDD0066 | 443.00 | 445.00 | 2.00 | 1.52 | 2.09 | 2 | 0.01 | 2.13 | |
| KARDD0066 | 473.50 | 475.20 | 1.70 | 1.29 | 1.05 | 7 | 0.01 | 1.15 | |
| KARDD0066 | 479.30 | 480.50 | 1.20 | 0.91 | 0.68 | 13 | 0.08 | 0.96 | |
| KARDD0067 | 554.90 | 603.20 | 48.30 | 36.71 | 0.80 | 5 | 0.30 | 1.34 | Bulk Intersection |
| KARDD0067 | 272.40 | 274.30 | 1.90 | 1.44 | 0.49 | 9 | 0.20 | 0.89 | |
| KARDD0067 | 557.40 | 575.00 | 17.60 | 13.38 | 1.64 | 9 | 0.50 | 2.53 | AR1 |
| KARDD0067 | 561.30 | 563.00 | 1.70 | 1.29 | 5.49 | 17 | 0.32 | 6.18 | |
| KARDD0067 | 584.30 | 585.60 | 1.30 | 0.99 | 1.49 | 16 | 0.64 | 2.67 | |
| KARDD0067 | 601.90 | 603.20 | 1.30 | 0.99 | 1.09 | 24 | 1.41 | 3.57 |
Table 2
Bulk Intercepts from Arakompa Historic Diamond Drilling
| Hole ID | From (m) | To (m) | Interval (m) | True width (m) | Gold g/t | Silver g/t | Copper % | Gold Eq | Vein |
| 001AD92 | 11.20 | 48.00 | 36.80 | 25.55 | 2.31 | 2 | 0.03 | 2.38 | Bulk Intersection |
| 002AD92 | 4.00 | 74.00 | 70.00 | 49.00 | 0.44 | 3 | 0.03 | 0.52 | Bulk Intersection |
| 003AD92 | 36.00 | 98.00 | 62.00 | 43.40 | 0.66 | 2 | 0.02 | 0.72 | Bulk Intersection |
| 004AD92 | 0.00 | 55.50 | 55.50 | 38.85 | 2.43 | 3 | 0.07 | 2.57 | Bulk Intersection |
| 005AD92 | 18.00 | 59.90 | 41.90 | 29.33 | 2.12 | 2 | 0.04 | 2.20 | Bulk Intersection |
| 006AD92 | 49.00 | 85.00 | 36.00 | 25.20 | 1.21 | 27 | 0.05 | 1.60 | Bulk Intersection |
| 007AD92 | 9.00 | 34.75 | 25.75 | 18.03 | 0.46 | 1 | 0.01 | 0.50 | Bulk Intersection |
| 008AD92 | 10.90 | 51.00 | 40.10 | 28.07 | 1.04 | 2 | 0.03 | 1.11 | Bulk Intersection |
| 009AD92 | 7.00 | 26.00 | 19.00 | 13.30 | 3.05 | 5 | 0.05 | 3.18 | Bulk Intersection |
| 010AD92 | 0.00 | 38.00 | 38.00 | 26.60 | 2.66 | 3 | 0.08 | 2.83 | Bulk Intersection |
| 011AD92 | 0.00 | 48.00 | 48.00 | 33.60 | 1.11 | 3 | 0.02 | 1.18 | Bulk Intersection |
| 012AD92 | 0.00 | 64.65 | 64.65 | 45.26 | 0.83 | 3 | 0.04 | 0.93 | Bulk Intersection |
| 013AD92 | 7.00 | 31.00 | 24.00 | 16.80 | 3.53 | 3 | 0.06 | 3.65 | Bulk Intersection |
| 014AD92 | 9.00 | 45.00 | 36.00 | 25.20 | 2.61 | 7 | 0.04 | 2.76 | Bulk Intersection |
| 015AD92 | 23.00 | 43.00 | 20.00 | 14.00 | 0.60 | 5 | 0.05 | 0.73 | Bulk Intersection |
| 016AD92 | 54.00 | 91.20 | 37.20 | 26.04 | 3.00 | 9 | 0.29 | 3.56 | Bulk Intersection |
| 017AD92 | 12.00 | 42.00 | 30.00 | 21.00 | 0.18 | 1 | 0.01 | 0.21 | Bulk Intersection |
| 018AD92 | 161.00 | 247.00 | 86.00 | 60.20 | 0.45 | 3 | 0.04 | 0.55 | Bulk Intersection |
Table 3
Collar Locations for Arakompa Surface Drilling
| Hole ID | Collar location | Collar orientation | ||||
| Local North | Local East | mRL | Dip | Local azimuth | EOH depth (m) | |
| KARDD0041 | 69748 | 89990 | 1365 | -56 | 79 | 582 |
| KARDD0045 | 69723 | 89737 | 1463 | -53 | 69 | 515 |
| KARDD0046 | 69748 | 89989 | 1365 | -50 | 96 | 461 |
| KARDD0047 | 70099 | 89639 | 1553 | -46 | 271 | 322 |
| KARDD0048 | 69723 | 89737 | 1463 | -48 | 85 | 515 |
| KARDD0049 | 69748 | 89990 | 1365 | -45 | 86 | 458 |
| KARDD0050 | 69778 | 89459 | 1554 | -61 | 45 | 678 |
| KARDD0051 | 69734 | 90231 | 1385 | -58 | 88 | 527 |
| KARDD0052 | 69778 | 89459 | 1554 | -65 | 53 | 712 |
| KARDD0053 | 69723 | 89737 | 1463 | -56 | 85 | 510 |
| KARDD0054 | 69734 | 90231 | 1378 | -47 | 88 | 471 |
| KARDD0055 | 69723 | 89737 | 1463 | -64 | 84 | 686 |
| KARDD0056 | 69734 | 90231 | 1378 | -46 | 42 | 653 |
| KARDD0057 | 69778 | 89459 | 1554 | -64 | 83 | 711 |
| KARDD0058 | 69723 | 89737 | 1463 | -46 | 59 | 521 |
| KARDD0059 | 69734 | 90231 | 1378 | -57 | 42 | 657 |
| KARDD0060 | 69778 | 89459 | 1554 | -59 | 81 | 646 |
| KARDD0061 | 69723 | 89737 | 1463 | -45 | 98 | 467 |
| KARDD0062 | 69734 | 90231 | 1378 | -51 | 71 | 507 |
| KARDD0063 | 69722 | 89736 | 1463 | -54 | 98 | 552 |
| KARDD0064 | 69779 | 89457 | 1554 | -49 | 87 | 453 |
| KARDD0065 | 69778 | 89263 | 1555 | -47 | 79 | 987 |
| KARDD0066 | 69734 | 90231 | 1385 | -59 | 69 | 523 |
| KARDD0067 | 69723 | 89737 | 1463 | -64 | 75 | 618 |
Drill Hole Sampling Methodology, QA/QC and Qualified Person
The diamond drill hole is first logged to determine the sampling intervals, which range from a minimum of 0.1 metres to generally 1 metre. The drill core is sawn half core cut along a reference line, with the remainder of the core returned to the core tray. Core samples are then placed in numbered calico and plastic bags, with a numbered sample ticket for dispatch to the assay laboratory. Samples are separately assayed for gold, copper and silver. K92's procedure includes the insertion standards, blanks and duplicates. Gold assays are by the fire assay method. Copper and silver assays are by three-acid-digestion method (nitric, perchloric and hydrochloric mix).
K92 maintains an industry-standard analytical quality assurance and quality control (QA/QC) and data verification program to monitor laboratory performance and ensure high quality assays. Results from this program confirm reliability of the assay results. All sampling and analytical work for the mine exploration program is performed by Intertek Testing Services (PNG) Ltd, an independent accredited laboratory that is located on site. External check assays for QA/QC purposes are performed at SGS Australia Pty Ltd in Townsville, Queensland, Australia.
K92 Mining Chief Geologist, Andrew Kohler, PGeo, MAIG, Qualified Person under the meaning of National Instrument 43-101 - Standards of Disclosure for Mineral Projects, has reviewed and is responsible for the technical content of this news release. In addition to the analytical QA/QC program outlined above, data verification also includes significant time onsite reviewing drill core, soil and outcrop sampling, artisanal workings, as well as discussing work programs and results with geology personnel and external consultants.
About K92
K92 Mining Inc. is engaged in the production of gold, copper and silver at the Kainantu Gold Mine in the Eastern Highlands province of Papua New Guinea, as well as exploration and development of mineral deposits in the immediate vicinity of the mine. The Company declared commercial production from Kainantu in February 2018, is in a strong financial position, and is working to become a Tier 1 mid-tier producer through ongoing plant expansions. A maiden resource estimate on the Blue Lake copper-gold porphyry project was completed in August 2022. K92 is operated by a team of mining company professionals with extensive international mine-building and operational experience.
On Behalf of the Company,
John Lewins, Chief Executive Officer and Director
For further information, please contact David Medilek, P.Eng., CFA, President and Chief Operating Officer at +1-604-416-4445
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION:
This news release includes certain "forward-looking statements" under applicable Canadian securities legislation. Such forward-looking statements include, without limitation: (i) the results of the Kainantu Mine Definitive Feasibility Study, including the Stage 3 Expansion, a new standalone 1.2 mtpa process plant and supporting infrastructure; (ii) statements regarding the expansion of the mine and development of any of the deposits; (iii) the Kainantu Stage 4 Expansion, operating two standalone process plants, larger surface infrastructure and mining throughputs; and (iv) the potential extended life of the Kainantu Mine.
All statements in this news release that address events or developments that we expect to occur in the future are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, although not always, identified by words such as "expect", "plan", "anticipate", "project", "target", "potential", "schedule", "forecast", "budget", "estimate", "intend" or "believe" and similar expressions or their negative connotations, or that events or conditions "will", "would", "may", "could", "should" or "might" occur. All such forward-looking statements are based on the opinions and estimates of management as of the date such statements are made. Forward-looking statements are necessarily based on estimates and assumptions that are inherently subject to known and unknown risks, uncertainties and other factors, many of which are beyond our ability to control, that may cause our actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information. Such factors include, without limitation, Public Health Crises, including the epidemic or pandemic viruses; changes in the price of gold, silver, copper and other metals in the world markets; fluctuations in the price and availability of infrastructure and energy and other commodities; fluctuations in foreign currency exchange rates; volatility in price of our common shares; inherent risks associated with the mining industry, including problems related to weather and climate in remote areas in which certain of the Company's operations are located; failure to achieve production, cost and other estimates; risks and uncertainties associated with exploration and development; uncertainties relating to estimates of mineral resources including uncertainty that mineral resources may never be converted into mineral reserves; the Company's ability to carry on current and future operations, including development and exploration activities at the Arakompa, Kora, Judd and other projects; the timing, extent, duration and economic viability of such operations, including any mineral resources or reserves identified thereby; the accuracy and reliability of estimates, projections, forecasts, studies and assessments; the Company's ability to meet or achieve estimates, projections and forecasts; the availability and cost of inputs; the availability and costs of achieving the Stage 3 Expansion or the Stage 4 Expansion; the ability of the Company to achieve the inputs the price and market for outputs, including gold, silver and copper; failures of information systems or information security threats; political, economic and other risks associated with the Company's foreign operations; geopolitical events and other uncertainties, such as the conflicts in Ukraine, Israel and Palestine; compliance with various laws and regulatory requirements to which the Company is subject to, including taxation; the ability to obtain timely financing on reasonable terms when required; the current and future social, economic and political conditions, including relationship with the communities in Papua New Guinea and other jurisdictions it operates; other assumptions and factors generally associated with the mining industry; and the risks, uncertainties and other factors referred to in the Company's Annual Information Form under the heading "Risk Factors."
Estimates of mineral resources are also forward-looking statements because they constitute projections, based on certain estimates and assumptions, regarding the amount of minerals that may be encountered in the future and/or the anticipated economics of production. The estimation of mineral resources and mineral reserves is inherently uncertain and involves subjective judgments about many relevant factors. Mineral resources that are not mineral reserves do not have demonstrated economic viability. The accuracy of any such estimates is a function of the quantity and quality of available data, and of the assumptions made and judgments used in engineering and geological interpretation, Forward-looking statements are not a guarantee of future performance, and actual results and future events could materially differ from those anticipated in such statements. Although we have attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking statements, there may be other factors that cause actual results to differ materially from those that are anticipated, estimated, or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
Figure 1 - Arakompa Plan Map
Figure 2 - Arakompa Cross-Section - Showing KARDD0025, KARDD0029, KARDD0038, and KARDD0061
Figure 3 - Arakompa Cross-Section - Showing KARDD0056 and KARDD0059
Figure 4 - Arakompa Cross-Section - Showing KARDD0067, KARDD0048, KARDD0030 and KARDD0033
Figure 5 - Arakompa Bulk Interpretation Long Section
Figure 6 - AR1 Vein Long Section
Figure 7 - AR2 Vein Long Section
Figure 8 - Wera Plan Map
Figure 9 - Site Map and Location of Arakompa and Wera
Figure 10 - KARDD0061 Core Photograph, 414.0 - 421.7m; within intersection of 7.06m at 27.92 g/t AuEq (AR1 Vein), within a broader intercept of 96.1m at 2.64 g/t AuEq.
Figure 11 - Wera rock chip samples from recent exploration program, returning assays: A. 26.30 g/t Au, B. 22.06 g/t Au, C. 7.12 g/t Au, D. 6.63 g/t Au.
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