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K92 Mining Announces Q3 Results

Mining News - Published on Fri, 11 Oct 2019

Image Source: postcourier.com.pg
K92 Mining Inc announced production in the Q3 exceeded budget by 14%, with 19,170 oz AuEq produced for the quarter at its Kainantu Gold Mine in Papua New Guinea. During Q3, K92 produced 18,636 oz of gold, 209,287 pounds of copper and 5,284 oz of silver or 19,170 AuEq oz. Production for the first threequarters of 2019 is a record of 56,741 oz of gold or 58,610 AuEq oz, compared to production of 47,237 for the entire year in 2018. Recoveries for the first three quarters of 2019 averaged 93.7% for gold and 92.8% copper. Mining operations in Q3 continued to focus on Kora North and comprised cut and fill stope mining from the K1 vein at the 1,185 and 1,205 mRL level as well as development tonnes from the K1 vein on the 1,170 mRL level.

The blend of primarily K1 material provided an average head grade to the process plant for Q3 of 19.2 g/t Au and 0.32% Cu. The gold head grade was above and the copper grade below the anticipated long-term average grades. The above average gold grades are the result of a combination of lower dilution being achieved in the stope and development mining combined with a higher proportion of K1 treated during the quarter, while the below budget copper grades are the result of treating a higher proportion of K1.

Importantly, the above budget production was achieved despite a number of interruptions to underground mine operations due to upgrading of underground infrastructure and mining of three bypasses in the main incline associated with the expansion project. Some interruption in plant operations was also experienced during the quarter due to installation and commissioning of the gravity circuit.

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Posted By : Rabi Wangkhem on Fri, 11 Oct 2019
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