K92 Mining Exploration Update - Blue Lake Porphyry Prospect
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 EXPLORATION UPDATE - BLUE LAKE PORPHYRY PROSPECT
• Initial diamond drilling program underway, with the first of six planned 400- metre
deep holes completed
• First hole KTDD0001 intersects 175 metres at 0.28 g/t Au and 0.22% Cu from 259
metres to termination at 433.9 metres, with the hole ending in mineralization
• A grid soil sampling program over an area of approximately 2 km2 identifies a large
coincident gold and copper anomaly
Vancouver, B.C. March 27, 2019 - 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 located approximately 4 kms southwest of the Company’s Kora deposit at the
Kainantu gold mine in Papua New Guinea (see Figure 1).
Drilling recently commenced, with the first hole, KTDD0001 intersecting a mineralized silica
cap, followed by a broad zone of intense argillic alteration (pyrophyllite/kaolinite), before
drilling strong propylitic alteration in diorite , predominantly chlorite, with epidote increasing
towards the end of the hole. Significantly, the hole intersected 175 metres @ 0.28 g/t Au and
0.22 % Cu from 259 metres to the end of the hole at 433.9 metres (see Tables 1 & 2 below). The
hole was still in mineralization when completed (see Figures 2 & 3).
The Blue Lake Project was discovered in early 2017 by the K92 exploration team following a
systematic surface mapping and sampling program over the western portion of EL470. Strongly
mineralized silicified breccias in outcrop were initially encountered by K92 in September 2017,
with samples assaying up to 20 g/t Au and 15% Cu.
Since the initial discovery, K92 geologists have mapped (lithology, alteration, structure) the
prospect area in detail at 1:1,00 0, identifying a number of mineralized intrusives and breccias.
An equidistant soil grid at 50 -metre spacing over an area of approximately 2km 2 has been
completed, with more than 1,000 samples collected, revealing a large coincident gold and copper
anomaly.
Petrology of rock chip samples taken from outcrop from widely spaced locations from Blue Lake
confirmed a high sulphidation overprint of outer potassic alteration/mineralisation, where
enargite, tennantite/tetrahedrite, sulphosalt minerals, cuba nite, chalcopyrite, bornite, sphalerite,
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galena and possible precious metal telluride minerals occur in paragenetic association with
pyrophyllite-sericite, mosaic quartz, diaspore, kaolin clay and pyrite, defining an intermediate to
high-sulphidation style of mineralisation within tonalite porphyry. The presence of secondary
hypersaline fluid inclusion assemblages in primary quartz, ghosting of prograde metasomatic
biotite and actinolite/tremolite, and the distribution of resorbed prograde metasomatic borni te
and chalcopyrite provide evidence for hydrothermal overprinting of a protore porphyry copper
(gold) regime.
A significant conductor was identified from previously completed airborne EM geophysics
within the Blue Lake Prospect, which is coincident with strong Mo anomalism in soil
geochemistry. Integrated datasets (geology, geochemistry and geophysics) all point to a major
mineralized porphyry system at Blue Lake.
Chris Muller, K92 Vice President Exploration, states, “This first hole at Blue Lake has exceeded
our expectations, with t he mineralized silica cap, together with a long, open -ended interval of
equal ratio Au:Cu mineralized propylitic alteration assemblages suggesting proximity to a large,
fertile Au-Cu porphyry system.
This drilling result combined with the geology, geochemistry, geophysics and petrology make
Blue Lake a compelling porphyry prospect.
The Company will continue to advance the Blue Lake Prospect by c ompleting this initial 2,400 -
metre diamond program. At this point we intend to then continue with a further , larger and more
targeted drilling program based on the results and interpretations from this initial program.”
Table 1 – KTDD0001 Drilling Results
Hole_id From (m) To (m) Interval (m) Gold g/t Silver g/t Copper % Gold
equivalent
KTDD0001 5 20 15 0.63 4 0.02 0.7126
KTDD0001 259.3 433.9 174.6 0.28 2 0.22 0.6426
Table 2 – KTDD0001 – Collar Locations and Orientation
Hole_ID Easting
(AGD66)
Northing
(AGD66) mRL Bearing
(AMG)
Bearing
(Magnetic) Inclination Depth (m)
KTDD0001 371391 9316122 1639 120 115 -60 433.9
K92 Vice President Exploration, Mr. Chris Muller, PGeo, a 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. Data verification by Mr. Muller
includes significant time onsite reviewing drill core, soil and outcrop sampling, artisanal
workings, as well as d iscussing work programs and results with geology personnel and external
consultants.
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About K92 Mining
K92 Mining is currently engaged in the production of gold, copper and silver from the
Kora/Kora North deposit from the Kainantu Gold Mine in 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 announced
planned expansion of the mine in March 2019. An updated Preliminary Economic Assessment
on the property was published in January 2019.
ON BEHALF OF THE COMPANY,
John Lewins
Chief Executive Officer and Director
For further information, please contact the Company at +1-604-687-7130.
www.k92mining.com
NEITHER TSX VENTURE EXCHANGE NOR ITS REG ULATION SERVICES PRO VIDER
(AS THAT TERM IS DEF INED IN POLICIES OF THE TSX VENTURE EXCH ANGE)
ACCEPTS RESPONSIBILI TY FOR THE ADEQUACY OR ACCURACY OF THIS
RELEASE.
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 estima tes and
assumptions that, while considered reasonable, 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 plans, 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 prelimin ary economic analysis for the Kainantu Project,
expectations of future cash flows, the proposed plant expansion, potential expansion of resources
and the generation of further drilling results which may or may not occur. Forward -looking
statements and info rmation 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 and
other risks of the mining industry, changes in national and local government regulation of
mining operations, 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 forw ard-looking statements, whether as a result of new information, future events or
otherwise, except as required by law.
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Figure 1 Blue Lake Prospect Location
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Figure 2 KTDD0001 Drill Section
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Figure 3 KTDD0001, 424.4m. Quartz -chalcopyrite stockwork veins in chlorite -epidote
diorite; 1 metre interval assayed 0.26 g/t Au, 0.34 % Cu.