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
Suite 488 – 1090 West Georgia Street
Vancouver, British Columbia
Canada V6E 3V7
Telephone: +1 (604) 687-7130
Facsimile: +1 (604) 608-9110
www.k92mining.com
NEWS 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
• KUDD0001 at Judd South, stepping out 150 m to the south from the nearest historical
surface drill hole and the southernmost hole to date , recorded multiple intersections
including 15.25 m at 15.87 g/t gold equivalent (“AuEq”)(1) or 13.23 g/t Au, 15 g/t Ag and
1.53% Cu from the J1 Vein and 2.90 m at 8.52 g/t AuEq or 5.41 g/t Au, 16 g/t Ag and
1.81% Cu from the J2 Vein . The hole was terminated early, before reaching Kora
South due to loss of hole while drilling.
• KUDD0001 discovered a significant mineralized dilatant zone at Judd South of 66.55
m 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 intersected a previously unknown vein, located ~75 m East of Judd South,
recording 3.45 m 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
6.20 m at 17.26 g/t AuEq or 1.62 g/t Au, 151 g/t Ag and 8.56% Cu from K2 Vein ; 0.93
m at 36.39 g/t AuEq or 0.06 g/t Au, 93 g/t Ag and 21.88% Cu from the K1 Vein; 5.00 m
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 A g and 0.39% from J1 Vein, and; 1.3 m at 16.6 3 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
35.90 m at 5.98 g/t AuEq or 1. 42 g/t Au, 47 g/t Ag and 2.4 8% Cu, which includes the
K2 and K3 Veins.
• Airborne deep penetrating geophysics program completed over entire ~860 km 2
property, delivering excellent correlation between known mineral deposits and
conductive bodies . In particular , 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 kilomet res. Multiple new vein and
porphyry targets on all licenses have also been identified.
Note (1): Gold equivalent (AuEq) exploration results are calculated using longer-term commodity
prices with a copper price of US$3. 75/lb, a silver price of US$2 0/oz and a gold price of
US$1,600/oz.
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Vancouver, B ritish Columbia, February 16, 2021 - K92 Mining Inc . (“K92” or the
“Company”) (TSX: KNT; OTCQX: KNTNF) is pleased to announce results from the first two
surface holes at Kora South and Judd South and from the property-wide airborne geophysics
program at the Kainantu gold mine in Papua New Guinea. This is the first time that drilling at Kora
South and Judd South had been undertaken from surface by either K92 or prior operators . The
results for the latest surface diamond drill holes completed are summarized in Table 1 below.
Kora South and Judd South Drilling Results
Step-out drilling at both Kora South and Judd South delivered strong results with multiple high-
grade and solid thickness intersections in addition to record thickness with the discovery of dilatant
zones at both Judd South and Kora South.
At Judd South, the results are highlighted by hole KUDD0001, the southernmost step -out hole to
date, stepping out 150 metres to the south from the nearest historical surface drill hole. KUDD0001
recorded multiple intersections inclu ding 15.25 m at 15.87 g/t AuEq or 13.23 g/t Au, 15 g/t Ag
and 1.53% Cu (9.93 m estimated thickness) from the J1 Vein and strong grades from the J2 Vein
that recorded 2.90 m at 8.52 g/t AuEq or 5.41 g/t Au, 16 g/t Ag and 1.81% Cu (1.89 m estimated
thickness). The hole was terminated early due to loss of hole from drilling before it could reach
Kora South.
Importantly, KUDD0001 discovered for the first time a dilatant zone within the Judd / Judd South
vein system, representing the longest intersection to date recorded at Kainantu at 66.55 m at 5.02
g/t AuEq or 3.65 g/t Au, 9 g/t Ag and 0.78% Cu (43.26 m estimated thickness). The dilatant zone
is punctuated by higher grades from the J1, J2 and potentially the J3 veins, with continuous gold
and copper mineralization between the various veins. Geotechnical conditions observed in the core
were also competent and analogous to that of Judd underground.
At Kora South, drill hole KUDD0002 , the southernmost step -out to date along the Kora -Kora
South vein syst em, stepping out 75 m to the south from the nearest drill hole , recorded solid
thickness and high grades from multiple veins including 6.20 m at 17.26 g/t AuEq or 1.62 g/t Au,
151 g/t Ag and 8.56% Cu (4.04 m estimated thickness) from K2 Vein; 0.93 m at 36. 39 g/t AuEq
or 0.06 g/t Au, 93 g/t Ag and 21.88% Cu (0.60 m estimated thickness) from the K1 Vein; 5.00 m
at 7.99 g/t AuEq or 4.67 g/t Au, 47 g/t Ag and 1.70% Cu (3.25 m estimated thickness ) from the
K3 Vein. A notable feature of the K1 and K2 vein intersections is the very high copper grades,
with ~1 metre assay composites up to 21.88% Cu over 0.93 m in K1 and up to 20.40% Cu over
1.04 m in K2, driven by massive copper sulphide veins punctuating the broader vein intersection.
Encouragingly the K3 vein reco rded one of its thickest intersections to date , despite the hole
bottoming while still in K3 mineralization.
Notably, at Kora South, KUDD0002 intersected a dilatant zone, similar to Judd South, intersecting
35.90 m at 5.98 g/t AuEq or 1.42 g/t Au, 47 g/t Ag and 2.48% Cu (23.34 m estimated thickness),
a record in terms of thickness for the Kora-Kora South vein system. The dilatant zone is punctuated
by higher grades f rom the K2 and K3 veins with continuous gold and copper mineralization
between the veins. While early days, these dilatant zones represent a potential step-change in terms
3
of the tonnage and metal endowment per vertical metre at Kora South and Judd South. As our drill
and surface sampling programs progress its impact will be better understood.
Drilling results also intersected a previously unknown vein, located approximately 75 m to the east
of Judd, recording 3.45 m at 10.36 g/t AuEq or 10.09 g/t Au, 20 g/t Ag and 0.01% Cu (2.24 m
estimated thickness). This was the first time drilling had been conducted this far east of Judd and
modifications to the drill program to test this vein are underway.
Other drill results include KUDD0002 recording 0.9 m at 15.43 g/t AuEq or 14.32 g/t Au, 39 g/t
Ag and 0.39% (0.59 m estimated thickness) from J1 Vein; and 1.3 m at 16.63 g/t AuEq or 16.60
g/t Au and 0.01% Cu (0.84 m estimated thickness) from J2 Vein, located approximately 80 m north
of KUDD0001.
Advanced Airborne MobileMT Geophysics Results
In November 2021, for the first time in over 10 years, airborne geophysics over the entire ~860
km2 property was flown. The program engaged Expert Geophysics Limited (EGL) to conduct the
helicopter-borne MobileMT electromagnetic and magnetic survey. MobileMT is the latest
generation of airborne AFMAG tec hnologies, designed in 2017 by the inventor of the ZTEM
system. MobileMT measurement frequency range is 25 Hz – 30,000 Hz, while ZTEM range is 25
Hz – 720 Hz, thus delivering a much greater depth range of investigation. Electromagnetic and
magnetic data was collected along east -west survey lines, nominally spaced at 200m, and north -
south tie lines nominally spaced at 2,000 m.
The results from the MobileMT geophysics delivered excellent correlation between known mineral
deposits and conductive bodies. In particular, the results demonstrate a potential extensive untested
strike length to Kora / Kora South and Judd / Judd South vein systems, beyond the A1 porphyry
for several kilometres to the southeast. The results also show a possible confluence of the vein
systems between Kora / Kora South and Judd / Judd South with the north -northeast Maniape and
Arakompa vein systems, representing a highly prospective target.
In addition to the vein targets, known mineralized porphyries were highlighted by geophysics,
including A1, Blue Lake, Tankaunan and Timpa.
Core Photos and Figures
Long sections of Kora South and Judd South, showing the location of the latest drill holes reported,
are provided in figures 1 and 2, respectively. A cross section of KUDD0001 and KUDD0002 are
shown in figures 3 and 4, respectively. A core photograph of the K2 Vein from hole KUDD0002
featuring massive copper sulphide mineralization is shown in figure 5 and closeup core samples
from KUDD0001 and KUDD00 02 are shown in figure 6. A map from the airborne geophysics
program proximal to the Kainantu underground mine is shown in figure 7, and a long section
illustrating the Highly Conductive Zone from geophysics is in figure 8.
Chris Muller, K92 Vice Presiden t Exploration, state d, “Drilling beyond the boundaries of the
Mining Lease on Exploration Lease EL470 has confirmed our interpretation that the high-grade
Kora and Judd vein systems persist well to the south. The mineralized Kora and Judd trend,
4
implied by newly acquired sub -surface conductivity data from geophysics, will be tested with an
expanded drilling campaign during 2022.”
John Lewins, K92 Chief Executive Officer and Director, added, “While this may be one of the
smallest batches of drill holes we have released, we believe it is one of the most impactful. Since
K92 acquired Kainantu in 2015, there has been a great belief in the potential to the South, as we
get closer to the A1 porphyry which is interpreted to be the main heat source for the vein systems.
As Chris Muller highlighted earlier, mineralization remains intense at both Kora South and Judd
South, with solid thickness and high grades. Judd South has been highlighted by 15.25 m at 15.87
g/t AuEq in the J1 Vein from KUDD0001 stepping out ~150 metres to the South from the nearest
historical drill hole, and Kora South has been highlighted by 6.20 m at 17.26 g/t AuEq from K2
Vein and 0.93 m at 36.39 g/t AuEq from the K1 Vein both from KUDD0002 st epping out ~75
metres to the South from the nearest drill hole. K1 and K2 also delivered very high copper grades,
both punctuated with ~1-2 metre veins of massive copper sulphides grading approximately 20% Cu.
The discovery of dilatant zones at both Judd South and Kora South has significant potential in
terms of overall endowment and throughput potential, recording 66.55 m at 5.02 g/t AuEq at Judd
South and 35.90 m at 5.98 g/t AuEq at Kora South. While it is still early days, we are very pleased
that we made the decision to significantly oversize the twin incline that is currently being
developed. Based on engineering review, modifications can be made to the conveying system to
handle throughputs exceeding 5 million tonnes per annum.
The drill results have also highlighted the potential for multiple productive veins beyond K1, K2
and J1. Results at J2 and K3 delivered solid grades and thicknesses and hole KUDD0001
intersected a previously unknown vein approximately 75 m east of Judd South recording 3.45 m
at 10.36 g/t AuEq. Prior K92 and historical drilling had not drilled this far east of Judd / Judd
South and plans are underway to test this potential vein system.
The results from the advanced geophysics program has underscored the significant near-mine and
regional exploration potential at Kainantu , including the potential for vein mineralization
continuing for kilometers from Kora South and Judd South . We strongly believe we are just
scratching the surface in both our vein and porphyry exploration programs.”
Table 1 - Significant Intercepts from Kora South and Judd South Diamond Drilling
Hole From
(m) To (m) Interval
(m)
True Width
(m) Au g/t Ag g/t Cu % Au Eq.
g/t Lode
KUDD0001 42.40 45.85 3.45 2.24 10.09 20 0.01 10.36 Unknown Vein
including 42.40 43.90 1.50 0.98 12.14 23 0.01 12.44
including 43.90 44.70 0.80 0.52 0.03 12 0.01 0.19
including 44.70 45.85 1.15 0.75 14.42 21 0.02 14.71
KUDD0001 202.50 205.10 2.60 1.69 3.47 15 0.92 5.13 Potentially J3
including 202.50 203.10 0.60 0.39 0.36 31 1.48 3.12
including 203.10 204.55 1.45 0.94 0.19 3 0.14 0.46
including 204.55 205.10 0.55 0.36 15.50 31 2.34 19.65
KUDD0001 204.55 271.10 66.55 43.26 3.65 9 0.78 5.02 Judd Dilatant Zone
including 204.55 205.10 0.55 0.36 15.50 31 2.34 19.65
including 205.10 207.45 2.35 1.53 0.07 3 0.06 0.21
including 207.45 209.00 1.55 1.01 0.21 32 0.01 0.63
including 209.00 210.00 1.00 0.65 0.13 2 0.01 0.17
including 210.00 210.35 0.35 0.23 0.20 7 0.96 1.83
including 210.35 211.25 0.90 0.59 0.27 2 0.05 0.38
5
Hole From
(m) To (m) Interval
(m)
True Width
(m) Au g/t Ag g/t Cu % Au Eq.
g/t Lode
including 211.25 211.80 0.55 0.36 0.63 14 0.69 1.91
including 211.80 212.40 0.60 0.39 0.70 5 0.28 1.21
including 212.40 212.70 0.30 0.19 0.65 4 0.02 0.73
including 212.70 213.00 0.30 0.20 1.99 20 0.53 3.08
including 213.00 213.55 0.55 0.36 0.82 1 0.01 0.84
including 213.55 213.95 0.40 0.26 0.16 2 0.02 0.22
including 213.95 216.40 2.45 1.59 0.02 2 0.04 0.11
including 216.40 217.90 1.50 0.98 0.05 1 0.01 0.07
including 217.90 219.00 1.10 0.71 0.01 3 0.19 0.34
including 219.00 219.80 0.80 0.52 0.02 8 0.61 1.10
including 219.80 220.50 0.70 0.45 0.78 26 1.04 2.78
including 220.50 221.10 0.60 0.39 0.31 12 1.32 2.59
including 221.10 221.30 0.20 0.13 0.50 3 0.04 0.60
including 221.30 221.90 0.60 0.39 0.12 8 0.63 1.23
including 221.90 223.15 1.25 0.81 0.25 3 0.18 0.58
including 223.15 224.60 1.45 0.94 3.14 29 1.18 5.40
including 224.60 225.50 0.90 0.59 0.65 4 0.22 1.05
including 225.50 225.75 0.25 0.16 2.80 17 1.06 4.72
including 225.75 226.30 0.55 0.36 0.63 6 0.33 1.23
including 226.30 226.60 0.30 0.19 0.59 15 0.12 0.97
including 226.60 227.00 0.40 0.26 0.26 6 0.31 0.84
including 227.00 227.60 0.60 0.39 0.15 5 0.33 0.74
including 227.60 228.50 0.90 0.59 9.29 22 2.09 12.92
including 228.50 229.80 1.30 0.85 4.98 7 0.53 5.92
including 229.80 230.50 0.70 0.45 1.24 26 3.81 7.69
including 230.50 232.20 1.70 1.10 0.16 4 0.28 0.65
including 232.20 233.00 0.80 0.52 0.96 5 0.38 1.64
including 233.00 234.50 1.50 0.98 0.02 2 0.04 0.11
including 234.50 234.80 0.30 0.20 0.24 10 2.12 3.77
including 234.80 236.20 1.40 0.91 0.05 2 0.07 0.19
including 236.20 237.10 0.90 0.59 0.05 2 0.22 0.43
including 237.10 238.10 1.00 0.65 0.03 3 0.53 0.91
including 238.10 239.00 0.90 0.59 0.01 2 0.30 0.52
including 239.00 239.50 0.50 0.33 0.05 2 0.44 0.78
including 239.50 240.05 0.55 0.36 0.18 2 0.22 0.55
including 240.05 240.50 0.45 0.29 0.06 5 0.69 1.23
including 240.50 240.87 0.37 0.24 0.10 3 0.58 1.07
including 240.87 241.90 1.03 0.67 0.22 4 0.90 1.72
including 241.90 242.80 0.90 0.59 0.28 3 0.41 0.98
including 242.80 243.10 0.30 0.19 0.15 2 0.41 0.84
including 243.10 243.30 0.20 0.13 0.23 16 1.26 2.45
including 243.30 244.70 1.40 0.91 0.26 3 0.22 0.65
including 244.70 245.60 0.90 0.59 0.09 4 0.35 0.70
including 245.60 247.26 1.66 1.08 0.10 6 0.62 1.16
including 247.26 248.80 1.54 1.00 0.14 4 0.39 0.82
including 248.80 250.30 1.50 0.98 0.18 3 0.11 0.40
including 250.30 251.30 1.00 0.65 0.64 11 2.58 4.92
including 251.30 252.70 1.40 0.91 1.51 17 2.46 5.68
including 252.70 253.10 0.40 0.26 0.13 3 0.33 0.70
including 253.10 254.42 1.32 0.86 0.08 3 0.28 0.57
including 254.42 255.85 1.43 0.93 0.13 4 0.91 1.64
including 255.85 256.80 0.95 0.62 0.40 55 9.36 16.13
including 256.80 258.25 1.45 0.94 0.16 3 0.38 0.80
including 258.25 259.90 1.65 1.07 0.27 11 2.83 4.96
including 259.90 261.25 1.35 0.88 4.99 16 4.19 11.92
including 261.25 262.30 1.05 0.68 1.62 16 1.32 3.95
including 262.30 263.70 1.40 0.91 3.17 26 1.22 5.45
including 263.70 264.25 0.55 0.36 156.68 46 0.15 157.50
including 264.25 265.40 1.15 0.75 64.50 35 0.15 65.18
including 265.40 265.79 0.39 0.25 0.95 2 0.03 1.03
including 265.79 267.00 1.21 0.79 0.16 1 0.02 0.21
including 267.00 268.50 1.50 0.98 0.43 2 0.05 0.53
including 268.50 269.00 0.50 0.33 0.76 2 0.06 0.88
including 269.00 269.70 0.70 0.45 16.50 2 0.04 16.58
including 269.70 271.10 1.40 0.91 10.23 1 0.02 10.27
KUDD0001 227.60 230.50 2.90 1.89 5.41 16 1.81 8.52 J2 (within Judd Dilatant Zone)
including 227.60 228.50 0.90 0.59 9.29 22 2.09 12.92
including 228.50 229.80 1.30 0.85 4.98 7 0.53 5.92
including 229.80 230.50 0.70 0.46 1.24 26 3.81 7.69
KUDD0001 255.85 271.10 15.25 9.93 13.23 15 1.53 15.87 J1 (within Judd Dilatant Zone)
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Hole From
(m) To (m) Interval
(m)
True Width
(m) Au g/t Ag g/t Cu % Au Eq.
g/t Lode
including 255.85 256.80 0.95 0.62 0.40 55 9.36 16.13
including 256.80 258.25 1.45 0.94 0.16 3 0.38 0.80
including 258.25 259.90 1.65 1.07 0.27 11 2.83 4.96
including 259.90 261.25 1.35 0.88 4.99 16 4.19 11.92
including 261.25 262.30 1.05 0.68 1.62 16 1.32 3.95
including 262.30 263.70 1.40 0.91 3.17 26 1.22 5.45
including 263.70 264.25 0.55 0.36 156.68 46 0.15 157.50
including 264.25 265.40 1.15 0.75 64.50 35 0.15 65.18
including 265.40 265.79 0.39 0.25 0.95 2 0.03 1.03
including 265.79 267.00 1.21 0.79 0.16 1 0.02 0.21
including 267.00 268.50 1.50 0.98 0.43 2 0.05 0.53
including 268.50 269.00 0.50 0.33 0.76 2 0.06 0.88
including 269.00 269.70 0.70 0.46 16.50 2 0.04 16.58
including 269.70 271.10 1.40 0.91 10.23 1 0.02 10.27
KUDD0002 74.00 75.30 1.30 0.84 16.60 1 0.01 16.63 J2
KUDD0002 140.20 141.10 0.90 0.59 14.32 39 0.39 15.43 J1
KUDD0002 335.83 336.76 0.93 0.60 0.06 93 21.88 36.39 K1
KUDD0002 378.10 414.00 35.90 23.34 1.42 47 2.48 5.98 Kora Dilatant Zone
including 378.10 379.00 0.90 0.58 0.49 6 1.74 3.36
including 379.00 379.80 0.80 0.52 1.62 10 2.85 6.33
including 379.80 380.54 0.74 0.48 0.14 8 0.78 1.50
including 380.54 381.57 1.03 0.67 0.92 83 7.33 13.74
including 381.57 382.20 0.63 0.41 0.21 17 2.44 4.34
including 382.20 383.24 1.04 0.68 2.64 650 20.49 43.70
including 383.24 384.18 0.94 0.61 4.61 153 19.28 37.51
including 384.18 384.30 0.12 0.08 0.17 9 1.21 2.23
including 384.30 386.20 1.90 1.23 0.17 5 0.39 0.86
including 386.20 387.30 1.10 0.72 0.01 1 0.02 0.06
including 387.30 389.00 1.70 1.10 0.42 1 0.02 0.46
including 389.00 390.15 1.15 0.75 0.14 2 0.03 0.21
including 390.15 390.94 0.79 0.51 0.01 1 0.00 0.03
including 390.94 392.20 1.26 0.82 0.05 1 0.01 0.08
including 392.20 393.00 0.80 0.52 0.14 1 0.01 0.16
including 393.00 393.64 0.64 0.42 0.30 8 0.93 1.90
including 393.64 394.20 0.56 0.36 0.08 5 0.09 0.29
including 394.20 395.00 0.80 0.52 0.29 4 0.15 0.58
including 395.00 396.35 1.35 0.88 0.45 7 0.22 0.89
including 396.35 397.25 0.90 0.58 0.26 4 0.22 0.66
including 397.25 398.00 0.75 0.49 5.49 34 2.22 9.48
including 398.00 399.70 1.70 1.10 0.47 2 0.12 0.69
including 399.70 401.00 1.30 0.85 1.96 31 0.16 2.60
including 401.00 402.00 1.00 0.65 0.50 7 0.29 1.05
including 402.00 403.00 1.00 0.65 0.51 4 0.06 0.66
including 403.00 403.50 0.50 0.33 1.35 10 0.13 1.68
including 403.50 405.00 1.50 0.98 3.28 4 0.17 3.61
including 405.00 406.00 1.00 0.65 0.12 2 0.02 0.17
including 406.00 407.00 1.00 0.65 0.32 3 0.05 0.43
including 407.00 408.00 1.00 0.65 0.21 2 0.03 0.28
including 408.00 409.00 1.00 0.65 0.17 2 0.08 0.32
including 409.00 410.00 1.00 0.65 3.28 71 3.23 9.36
including 410.00 411.00 1.00 0.65 1.35 30 2.41 5.60
including 411.00 412.00 1.00 0.65 0.31 28 1.45 2.99
including 412.00 413.00 1.00 0.65 0.43 25 0.86 2.12
including 413.00 414.00 1.00 0.65 17.96 33 0.57 19.29
KUDD0002 378.10 384.30 6.20 4.04 1.62 151 8.56 17.26 K2 (within Kora Dilatant Zone)
including 378.10 379.00 0.90 0.59 0.49 6 1.74 3.36
including 379.00 379.80 0.80 0.52 1.62 10 2.85 6.33
including 379.80 380.54 0.74 0.48 0.14 8 0.78 1.50
including 380.54 381.57 1.03 0.67 0.92 83 7.33 13.74
including 381.57 382.20 0.63 0.41 0.21 17 2.44 4.34
including 382.20 383.24 1.04 0.68 2.64 650 20.49 43.70
including 383.24 384.18 0.94 0.61 4.61 153 19.28 37.51
including 384.18 384.30 0.12 0.08 0.17 9 1.21 2.23
KUDD0002 409.00 414.00 5.00 3.25 4.67 47 1.70 7.99 K3 (within Kora Dilatant Zone)
including 409.00 410.00 1.00 0.65 3.28 71 3.23 9.36
including 410.00 411.00 1.00 0.65 1.35 30 2.41 5.60
including 411.00 412.00 1.00 0.65 0.31 28 1.45 2.99
including 412.00 413.00 1.00 0.65 0.43 25 0.86 2.12
including 413.00 414.00 1.00 0.65 17.96 33 0.57 19.29
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Table 2 - Collar Locations for Kora South and Judd South Diamond Drilling
Hole
Collar Location
mRL Bearing
(Local)
Bearing
(Magnetic) Inclination Depth (m)
Easting (Local) Northing (Local)
KUDD0001 30075.5 58047 1836 270 220 -60 284.6
KUDD0002 30010.7 58117.2 1802 280 230 -60 415.5
Drill Hole Sampling Methodology, QA/QC and Qualified Person
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. Co re 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 dup licates. Gold assays are by the fire assay method. Copper
and silver assays are by three-acid-digestion method (nitric, perchloric & hydrochloric mix).
K92 maintains an industry-standard analytical quality assurance and quality control (QA/QC) and
data ver ification 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 Servi ces (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 Vice President Exploration , Mr. Chris Muller , PGeo, and Andrew Kohler, PGeo, Mine
Geology Manager and Mine Exploration Manager for K92 , both Q ualified Persons under the
meaning of National Instrument 43-101 – Standards of Disclosure for Mineral Projects, have
reviewed and are 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 from the Kora and Judd
deposits 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 and is in a strong
financial position.
The Company commenced an expansion of the mine based on an updated Preliminary Economic
Assessment on the property which was published in January 2019 and updated in July 2020. 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 at +1-604-687-7130.
8
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news
release includes certain “forward -looking statements” under applicable Canadian securities
legislation. Forward-looking statements are necessarily based upon a number of estimates and
assumptions that, while considered reasonabl e, are subject to known and unknown risks,
uncertainties, and other factors which may cause the actual results and future events to differ
materially from those expressed or implied by such forward -looking statements. All statements
that address future pla ns, activities, events, or developments that the Company believes, expects
or anticipates will or may occur are forward-looking information, including statements regarding
the realization of the preliminary economic analysis for the Kainantu Mine, expectations of future
cash flows, the planned plant expansion, production results, cost of sales, sales of production,
potential expansion of resources and the generation of further drilling results which may or may
not occur. Forward -looking statements and information contained herein are based on certain
factors and assumptions regarding, among other things, the market price of the Company’s
securities, metal prices, exchange rates, taxation, the estimation, timing and amount of future
exploration and development, capital and operating costs, the availability of financing, the receipt
of regulatory approvals, environmental risks, title disputes, failure of plant, equipment or
processes to operate as anticipated, accidents, labour disputes, claims and limitations on
insurance coverage a nd other risks of the mining industry, changes in national and local
government regulation of mining operations in PNG , mitigation of the Covid -19 pandemic,
continuation of the lifted state of emergency, and regulations and other matters. 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.