K92 Reports Up To 20.04 g/t Au, 228.8 g/t Ag and 15.6% Cu from Rock Chip Samples at Blue Lake
Suite 488 – 1090 West Georgia Street
Vancouver, British Columbia
Canada V6E 3V7
Telephone: (604) 687-7130
Facsimile: (604) 608-9110
NEWS RELEASE
October 26, 2017 Vancouver, British Columbia
K92 MINING INC.
K92 Reports Up To 20.04 g/t Au, 228.8 g/t Ag and 15.6% Cu from Rock Chip Samples
at Blue Lake
• 436 rock chip samples and 152 soil samples taken in initial field work program
• high grade gold, silver and copper assays in chip samples taken from area with
coincident soil and geophysical anomaly
• very large, widespread hydrothermal alteration footprint evident
K92 Mining Inc. (“K92”) is pleased to report that field work in the Blue Lake area of EL470
has resulted in the identification of a new, highly prospective exploration area.
At Blue Lake (Pomasi), K92 has identified Au/Ag/Cu mineralisati on and hydrothermal
alteration typical of that encountered in a high sulphidation epithermal system.
In Papua New Guinea, both currently known high sulphidation Au/ Cu bearing deposits are
adjacent to world class Au/Cu porphyries, being Nena to Freida Horse-Ivaal at the PanAust
Frieda River Project and Wafi to Golpu at the Morobe Mining Joint Venture between Newcrest
and Harmony.
During field work at Blue Lake, K92 identified mineralised Au b earing vuggy silica and
Au/Ag/Cu mineralised breccias (Fig. 1) hosted in a heavily frac tured dacite/rhyodacite,
presumably a dome, and manifested within a network of intersecting NW (arc parallel), transfer
(NNE) and trans-tensional N-S structures. Au, Ag and Cu results from rock chip sampling has
returned values up to 20.04 g/t Au, 228.8 g/t Ag and 15.6 % Cu, respectively.
Localised diorite in outcrop, showing high-level cupola texture s, is pervasive dickite-pyrite
altered, with stockwork quartz-pyrite±chalcopyrite veins (Fig. 2). A prominent airborne EM
geophysical anomaly, adjacent to the mineralised dickite-altered diorite, is also coincident with
a high Au in soils.
Mineral zonation, from an inner vuggy silica core, surrounded b y kaolinite and grading to
chlorite±epidote is evident. A major silica-alunite lithocap is m a r g i n a l t o t h e e p i t h e r m a l
mineralisation and occupies the highest relief of the intense alteration observed throughout the
Blue Lake Prospect intrusive complex.
K92 Chief Executive Officer, John Lewins, states, “While much focus at K92 has been on the
ramp up of production and following up on the resource expansion potential in the Kora
extension discovery area within ML150, today’s news is a reminder of the very important
exploration potential within our large land pa ckage for both high grade vein systems and
porphyry targets. The discovery of this new Blue Lake area will be followed up on with
fieldwork, concurrent with the ongoing execution of our growth plan within Kora-
Irumafimpa.”
Fig. 1. Sample 016679 (UTM coords 371432E, 9316125N) Enargite-l uzonite rich
hydrothermal breccia matrix, with silicified dacite clasts, overprinted by kaolinite; 8.33 g/t Au,
47.6 g/t Ag, 14.94 % Cu.
Fig. 2. Sample 021101 (UTM coords 370891E, 9316364N) Diorite with cupola textures,
quartz-pyrite-chalcopyrite veins, intensely altered by pervasive dickite and disseminated
pyrite; 0.14 g/t Au, 16.0 g/t Ag, 0.41 % Cu.
Fig. 3. Blue Lake rock chip Au assays over Au in soils (Pomasi) and AEM geophysics. Note location of prominent EM anomaly in PSA-10.
K92 Vice President Chris Muller, PGeo, a qualified person under the meaning of Canadian
National Instrument 43-101, 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, surface exposures, underground workings and discussing work programs and results with
exploration personnel.
ON BEHALF OF THE COMPANY,
John Lewins, Chief Executive Officer and Director
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: Thi s
news release includes certain “forward-looking statements” under applicable Canadian securities
legislation. Forward-looking stat ements are necessarily based u pon a number of estimates and
assumptions that, while consider ed reasonable, are subject to k nown and unknown risks,
uncertainties, and other factors which may cause the actual res ults and future events to differ
materially from those expressed or implied by such forward-look ing 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 preliminary economic analysis for the Project, expectations of future cash flows,
the proposed plant expansion, pote ntial expansion of resources and the generation of further
drilling results which may or may not occur. Forward-looking st atements and information
contained herein are based on certain factors and assumptions r egarding, among other things, the
market price of the Company’s securities, metal prices, exchang e rates, taxation, the estimation,
timing and amount of future exploration and development, capita l and operating costs, the
availability of financing, the r eceipt 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 mi ning industry, changes in national
and local government regulation of mining operations, and regul ations and other matters.. There
can be no assurance that such statements will prove to be accur ate, as actual results and future
events could differ materially from those anticipated in such s tatements. Accordingly, readers
should not place undue r eliance 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.