Premlimary Blue lake results from 2019https://www.globenewswire.com/news-release/2019/12/19/1963124/0/en/K92-Mining-Exploration-Update-Blue-Lake-Porphyry-Prospect.html
Huge potential, good results sooner, poor results longer is my guess!
- All planned holes in Phase 1 diamond drill program completed, for a total of 3,451.2 metres, with multiple holes ending in porphyry mineralization.
- Three porphyry consultant reports completed on Blue Lake in 3Q19. Reports were completed by Applied Petrologic Services and Research (Wanaka, New Zealand); Plus Minerals Consultants (Ulaanbaatar, Mongolia), and; porphyry consultant Greg Corbett (Sydney, Australia). The work included a detailed assessment of drill core and surface exposures, including comprehensive petrological studies, spectrometer alteration mapping and geochemical/structural modelling.
- Expansive gold-copper mineralized shell identified, beneath prominent advanced argillic lithocap.
- Multiple vectors indicative of a higher-grade porphyry deposit at depth. Documented potassic alteration, which commonly is associated with the highest-gold-copper grades in mineralized porphyry systems, in the lower portion of KTDD0001 and KTDD0006. The potassic alteration is only represented by patchy biotite in KTDD0001 and KTDD0006, which implies that a greater proportion of potassic mineral assemblages, and potentially associated gold-copper mineralization, might occur at depth.
- New drill program, including deeper, targeted drilling to commence early in 2020.
VANCOUVER, British Columbia, Dec. 19, 2019 (GLOBE NEWSWIRE) -- K92 Mining Inc. (“K92” or the “Company”) (TSXV: KNT; OTCQB: KNTNF) is pleased to provide an update on exploration at the Blue Lake Porphyry Prospect (Kotampa Project) located approximately 4 kms southwest of the Company’s Kora deposit at the Kainantu gold mine in Papua New Guinea (see Figure 1).
K92 has now completed all ten planned drilled holes along a prescribed section at Blue Lake, with the objective to identify vectors towards porphyry mineralization.
The drilling confirms the presence of a large gold-copper mineralized porphyry system, where an advanced argillic lithocap overlies extensive prograde porphyry style alteration and mineralization. The fence, mostly drilled at 200m spacing, returned significant gold/copper intercepts in several holes and the width of the mineralized halo (c. 0.2% Cu) is interpreted to be approximately 800m in diameter.
A detailed assessment of the drill core and surface exposures was undertaken by consultants, both on site and externally, including comprehensive petrological studies, spectrometer alteration mapping and geochemical/structural modelling. All appraisals collectively support the Company’s recognition of a major intrusive complex at the Blue Lake Prospect, constituting the root of a flow-banded, fractured dacite dome cut by hydrothermal breccias and late mineral porphyritic dacite dykes trending north-east. Intense, layered advanced argillic alteration extends down (c. 300m) to approximately 1300 m elevation. Beneath the lithocap, prograde alteration (predominately propylitic and phyllic assemblages of magnetite-chlorite-epidote-sericite), is distinctly zoned. Porphyry stockwork quartz veins are common, increasing in intensity with depth in each of the drill holes.
An abundance of porphyry features, including gold-copper mineralization, suggests that a quality target may occur at an accessible depth. Consequently, a further drill campaign scheduled to commence in 2020 Q1 will aim to delineate the lateral extent of the gold-copper mineralized shell at shallow to moderate levels, before embarking on a series of deeper holes targeting the inferred higher grade porphyry core.
Chris Muller, K92 Vice President Exploration, stated, “The Blue Lake porphyry system is demonstrated to be substantially large and fertile, with an impressive proliferation of overprinting hydrothermal alteration and characteristic porphyry stockwork quartz/sulphide veins, as well as disseminated mineralization. Multiple vectors identified suggest the presence of a higher grade core at depth, which will be targeted in a follow-up program entailing additional fences of holes, together with deeper, targeted drilling.”