K92 Mining Announces First Inferred Resource of 10.8 million ounces AuEq…

K92 Mining Announces First Inferred Resource of 10.8 million ounces AuEq…

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illustration 1

Location of the Blue Lake Porphyry Project
Location of the Blue Lake Porphyry Project

figure 2

Hole KTDD0018, at c.  845m.  Quartz-chalcopyrite vein hosted by biotite-Kspar alteration.
Hole KTDD0018, at c. 845m. Quartz-chalcopyrite vein hosted by biotite-Kspar alteration.

figure 3

Blue Lake Porphyry Drill Core - KTDD0018
Blue Lake Porphyry Drill Core – KTDD0018

figure 4

Mineralogy of the Blue Lake project in drill core
Mineralogy of the Blue Lake project in drill core

Figure 5

Blue Lake Porphyry - section, viewed from the north-northeast
Blue Lake Porphyry – Section, viewed from the north-northeast

Figure 6

Airborne Geophysics Mobile MT (Apparent Conductivity) plan geophysical map near the Blue Lake Porphyry
Airborne Geophysics Mobile MT (Apparent Conductivity) plan geophysical map near 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 an initial resource estimate at the Blue Lake Porphyry Project, located approximately 4 km southwest of the Company’s producing Kora and Judd high-grade gold-copper deposits at the Kainantu Gold Mine in Papua New Guinea. Blue Lake was discovered by K92 following the identification of mineralized lithocap in 2017. K92 has completed two diamond drill programs totaling 26 drill holes and 16,474.8 meters on the project.

Highlights of Blue Lake’s maiden gold-copper porphyry mineral resource estimate

  • Significant initial inferred resource estimate of 10.8 million gold equivalent (“AuEq”) ounces 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 cut-off grade of 0.4 g/t AuEq.
  • Extensive potential for resource growth as Blue Lake is open at depth with significant potential for extension and delineation of high-grade potash core (see Figure 5). The Blue Lake Porphyry contains approximately equal amounts of gold and copper.
  • Future exploration plans at Blue Lake include drilling to expand the higher grade core that is open at depth and exploration for additional mineralized porphyries beneath an extensive composite lithocap that extends to and includes the A1 porphyry target (see Figures 5 and 6) .
  • Porphyry exploration is progressing on Porphyry Target A1, our highest priority porphyry target…



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