Post by
BlindBoy on May 16, 2022 10:36am
snippets from the MD&A
Twin Incline
Twin incline development advancement has continued to progress well, with metres developed
exceeding budget by 15% in Q1 2022. The #2 (6m x 6.5m) incline has now advanced a total of 1,010
metres and the #3 (5m x 5.5m) incline has now advanced a total of 1,063 metres as of March 31, 2022.
This large capital project will provide the major mine access infrastructure for increased production capability
required for a Stage 3 Expansion and potentially beyond to further expansions.
Exploration: Underground grade control and exploration
Kora Deposit
The Company continued its exploration diamond drilling program from underground using six drill rigs at
the Kora and Judd deposits. All drill rigs are Company owned. A total of 28 drill holes have been completed
into the Kora Vein System, since those used in the Mineral Resource Estimates dated January 2022. Drilling
density is suitable for both resource definition and expansion.
The updated mineral resource estimate (both
Kora and Judd) is now being used as the basis for the Stage 3 Feasibility Study.
Please see the Company’s news release, dated December 8, 2021, ‘K92 Mining Announces Latest High-
Grade Underground drill results at Kora, Including Step-Out Drilling to South and North’ for the most recent
results from the underground exploration program.
Please see the Company’s news release dated February 23, 2022, ‘K92 Mining Reports Significant Resource
Upgrade at High-Grade Kora Deposit and Maiden Judd Resource Estimate’.
Judd Vein System
The Judd Vein System at the Kainantu gold mine continues to be explored. The System is sub parallel in orientation to the Kora Vein System and is located approximately 90 to 150m east of Kora within the mining lease.
Mineralization is like Kora and is composed of Au-Cu-Ag sulphide veins of Intrusion Related Gold Copper (IRGC) affinity.
To date, four known veins have been recorded at the Judd Vein System. The veins
remain open at depth, up-dip, along strike in both directions and only a fraction of the +2,500m strike length has been drilled.
The Company continued its underground drill program testing the Judd Vein System. The focus of drilling is the J1 vein, with some holes continuing deeper testing the J2 to J4 vein targets. The latest drill results were included in the press release dated August 30, 2021: K92 Mining Announces High-Grade Judd Vein System
Drilling Results, Including 8.51m AT 49.93 g/t AuEq and 3.70m at 53.63 g/t AuEq. Since the Maiden Judd,
January 2022 Mineral Resource Estimate a total 25 additional holes have been drilled from underground.
As reported previously, drive development has been performed on J1 at 1235 and 1265 Levels. The latest drive development results were released on October 27, 2021 titled, “K92 Mining Announces High Grade Judd 1265 Level Development Results - Total Strike Extension of 211 Metres Averaged 21.69 G/T AuEq at
3.9 Metre J1 Vein Width”. J1 drive development at the 1285 level was commenced over the period and has achieved 110m in length.
Surface Exploration
Drilling continued at Kora South (EL470), designed to test for southern extensions of the Kora and Judd lodes being mined on ML150.
Ongoing drilling demonstrates that these mineralized structures continue well
into adjacent EL470.
A major drilling campaign was completed at Blue Lake/Kotampa (EL470), with
approximately 200m spaced holes drilled through the mineralized shell.
A total of 2,942.0m were drilled from surface during Q1 2022. Regional geochemical sampling and mapping continued at both Yarr Tree (EL2619) and Kora South (EL470), with the objective to outline areas for follow-
up work and to assist with defining the Kora and Judd structures at surface.
3D inversions of the EM geophysics were finalized, following the completion of the helicopter-borne MobileMT electromagnetic and magnetic survey, over the entire ~830 km2 property. An excellent correlation between known mineral deposits and conductive bodies has been recognized.
Most notably, the results demonstrate an extensive untested potential strike length to Kora-Kora South and Judd-Judd South vein systems beyond the A1 Porphyry to the southeast for several kilometres.
In addition to the vein targets, known mineralized porphyries were highlighted by geophysics, including A1, Blue Lake, Tankaunan and Timpa.
Multiple new vein and porphyry targets on all licenses have also been identified.
Blue Lake/Kotampa Prospect (EL470)
Two drill rigs were in full utilization at Blue Lake during Q1 2022, with a total of 1,603.5m drilled. Three drill holes were completed (KTDD0024, KTDD0025 and KTDD0026), all to depths of just over 1,000m. All
targeted extensions of the mineralized potassic zone, intersected in several drill holes, most prominently in KTDD0018
The Blue Lake drill program has defined a substantial Au-Cu-Mo mineralized shell (approximately 1000 x 500 x 400m), hosted in diorite and latite intrusives, beneath or proximal to a prominent silica-clay cap.
Finely disseminated chalcopyrite is ubiquitous within the mineralized carapace, while vein chalcopyrite, together with bornite, are most prevalent in the inner core, characterized by potassic alteration (biotite-Kspar).
Drilling at Blue Lake has now yielded detailed geological and geochemical information at approximately 200m spacing through the mineralized porphyry system. The porphyry remains open to the south-east and at depth
The Blue Lake drill program has defined a substantial Au-Cu-Mo mineralized shell (approximately 1000 x 500 x 400m), hosted in diorite and latite intrusives, beneath or proximal to a prominent silica-clay cap. Finely disseminated chalcopyrite is ubiquitous within the mineralized carapace, while vein chalcopyrite, together
with bornite, are most prevalent in the inner core, characterized by potassic alteration (biotite-Kspar).
Drilling at Blue Lake has now yielded detailed geological and geochemical information at approximately 200m spacing through the mineralized porphyry system. The porphyry remains open to the south-east and at depth.
Drilling in EL470 outside of ML150 at Kora South, to the south of the Mining Lease, has yielded significant results, which were the subject of a recent press release (see February 16, 2022 press release: K92 Mining Announces High Grades, Record Thicknesses From Maiden Surface Step-Out Drilling Results at Kora South
and Judd South, Airborne Geophysics Defines Extensive New Targets).
The first two drill holes, KUDD0001 and KUDD0002, defined multiple intersections, representing both Kora (K1, K2 and K3) and Judd lodes (J1
and J2), as well as a previously unknown vein, located approximately 75m to the east of Judd. Results from KUDD0001 included 15.25m at 15.87 g/t gold equivalent (13.23 g/t Au, 15 g/t Ag and 1.53% Cu) from the J1 Vein and 2.90m at 8.52 g/t AuEq (5.41 g/t Au, 16 g/t Ag and 1.81% Cu) from the J2 Vein.
This hole was terminated early, before reaching Kora South due to loss of the hole while drilling.
KUDD0001 also discovered a significant mineralized dilatant zone at Judd South of 66.55m at 5.02 g/t AuEq or 3.65 g/t Au, 9 g/t Ag and 0.78% Cu, which includes the J1, J2 Veins and potentially the J3 vein.
KUDD0001 also intersected a previously unknown vein, located ~75 m East of Judd South, recording 3.45m at 10.36 g/t AuEq or 10.09 g/t Au, 20 g/t Ag and 0.01% Cu. Prior K92 and historical drilling had not drilled this far east of Judd
/ Judd South.
KUDD0002 recorded multiple intersections at Kora South and Judd South including 6.20m at 17.26 g/t AuEq or 1.62 g/t Au, 151 g/t Ag and 8.56% Cu from K2 Vein; 0.93m at 36.39 g/t AuEq or 0.06 g/t Au, 93 g/t Ag and 21.88% Cu from the K1 Vein; 5.00m at 7.99 g/t AuEq or 4.67 g/t Au, 47 g/t Ag and 1.70% Cu from K3 Vein; 0.9 m at 15.43 g/t AuEq or 14.32 g/t Au, 39 g/t Ag and 0.39% from J1 Vein, and; 1.3m at 16.63 g/t AuEq or 16.60 g/t Au and 0.01% Cu from J2 Vein. KUDD0002 discovered a significant mineralized dilatant zone at Kora South recording 35.90m at 5.98 g/t AuEq or 1.42 g/t Au, 47 g/t Ag and 2.48% Cu, which
includes the K2 and K3 Veins.
A total of 1,338.5m were drilled at Kora South during Q1, 2022, from the completion of KUDD0002 and KUDD0003. KUDD0004 was abandoned at 68.4m, as a result of geotechnical instability (landslip) proximal to the drill pad. KUDD0005 is ongoing.
Drilling at Kora South was initiated with a single rig but was expanded to two rigs in March 2022. A third rig has commenced drilling in April 2022.