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K92 Mining Announces Exploration Update At Blue Lake Porphyry Prospect

Mining News - Published on Sun, 23 Jun 2019

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K92 Mining Inc announced an update on exploration at the Blue Lake Porphyry Prospect located approximately 4 kilometers southwest of the Company’s Kora deposit at the Kainantu gold mine in Papua New Guinea. K92 has now completed three of the 6 planned holes of depth 400 to 600 metres as well as three shallow holes of depth 50 metres. Each of the three deep holes, KTDD0001/6/7, has intercepted extensive gold and copper mineralization in porphyry style propylitic chlorite-epidote-albite-magnetite alteration. The results are considered particularly encouraging given the distance between intercepts, indicating appreciable size potential. Hole KTDD0005 was abandoned at 106 metres due to bogging of rods and re-drilled as KTDD0006. The three shallow holes, KTDD0002/3/4, were designed to test the thickness, geometry and tenor of the mineralized lithocap. Significant gold intercepts were encountered in each of these short holes, associated with leached, silicified intrusives and hydrothermal breccias.

As with the first hole drilled at Blue Lake, KTDD0001, the subsequent deep hole KTDD0006 intersected a mineralized silica cap, followed by a broad zone of intense argillic alteration, before drilling strong propylitic alteration in diorite, predominantly chlorite, with epidote increasing towards the end of the hole. KTDD0007 intersected propylitic alteration from shallow depths. Significantly, KTDD0006 intersected 219.6 metres at 0.16 gram per tonne Au and 0.11% Cu from 385 metres to termination at 604.6 metres, while KTDD0007 intersected 303.3 metres at 0.22 gram per tonne Au and 0.14% Cu from 190 metres to termination at 493.3 metres. The holes were still in mineralization when completed.

Mr Chris Muller, K92 Vice President Exploration, said that “As with the previously reported first hole drilled at Blue Lake, these second and third holes have confirmed the potential of Blue Lake as a fertile Au-Cu porphyry system. Results to date continue to exceed our expectations, with the initial program expanded from 2,400 metres to 4,000 metres and planning for the second follow up larger and more targeted drilling program already under way.”

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Posted By : Sanju Moirangthem on Sun, 23 Jun 2019
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