K92 Mining Inc. reports operating, financial, exploration and development updates tied to the Kainantu Gold Mine in the Eastern Highlands Province of Papua New Guinea. The company produces gold, copper and silver at Kainantu and conducts exploration and development on nearby mineral deposits, including the Kora and Judd systems and the Blue Lake copper-gold porphyry project.
Recurring news covers gold-equivalent production, ore mined and processed, sales volumes, costs, financial results, expansion projects, mine infrastructure, processing capacity, drilling results and operational guidance. Updates also address site construction, fleet and ventilation upgrades, safety matters and conference-call details for periodic results.
K92 Mining Inc (TSX: KNT; OTCQX: KNTNF) held its 2021 annual general and special meeting (AGM) virtually on October 28, 2021. A total of 145,080,169 common shares, representing 65.23% of the outstanding shares, were voted. All eight director nominees were elected, with R. Stuart (Tookie) Angus receiving 90.33% approval. Other resolutions passed included setting the number of directors to eight, re-appointing PricewaterhouseCoopers LLP as auditor, adopting the Share Compensation Plan, and adopting new Articles for the Company. For detailed results, documents are available on K92’s website and SEDAR.
K92 Mining announced significant progress in the development of the Judd Vein System at its Kainantu Gold Mine in Papua New Guinea. A total of 211 metres of high-grade mineralization was recorded, with an average grade of 21.69 g/t AuEq. The northern extension measured 97 metres at 18.29 g/t AuEq, while the southern extension spanned 114 metres at 24.44 g/t AuEq. Notably, 26% of sampled faces yielded grades exceeding 10 g/t AuEq, demonstrating strong mineralization potential. Long hole drilling has commenced, with first production expected in Q4, enhancing operational flexibility.
K92 Mining Inc. (KNTNF) will release its 2021 third quarter financial results on November 15, 2021, before North American markets open. A conference call and webcast will follow at 8:30 am EST on the same day. K92 operates the Kainantu Gold Mine in Papua New Guinea, producing gold, copper, and silver since declaring commercial production in February 2018. The company is financially strong and is working on an expansion based on previous economic assessments.
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K92 Mining reported a record Q3 2021 with 87,621 tonnes processed, up 35% from Q3 2020. Production totaled 24,122 oz AuEq, including 21,908 oz gold. September saw an average throughput of 1,100 tpd, leading to the approval of a Stage 2A Expansion to raise capacity by 25% to 500,000 tpa. Despite COVID-19 challenges, the mine improved development by 50% compared to Q2. The company plans to ramp up production at the new Judd Vein System, enhancing operational flexibility.
K92 Mining has approved the Stage 2A Expansion at its Kainantu Gold Mine in Papua New Guinea, increasing processing throughput by 25% to 500,000 tonnes per annum. The expansion, costing approximately US$2.5 million, will be funded from existing cash flows. Significant upgrades include an additional filter press and a T-1000 crusher, with planned installations for flotation cells in 2022. The decision is also supported by positive mining exploration results from the Judd Vein System, expected to enhance operational flexibility and efficiencies. Full commissioning is set for Q3 2022.
K92 Mining Inc. (KNTNF) announced it has mailed the Notice of Meeting and Management Information Circular for its Annual General and Special Meeting set for October 28, 2021. The meeting will be held virtually due to COVID-19 safety protocols. Shareholders are encouraged to vote by proxy. Key voting matters include the election of eight incumbent directors, re-appointment of auditors, adoption of new Articles of Incorporation, and approval of a Share Compensation Plan. The board recommends voting in favor of all items.
K92 Mining (KNTNF) has been added to the S&P/TSX Composite Index, effective September 20, 2021. This significant milestone recognizes K92’s growth and expanding investor base. CEO John Lewins expressed pride in the achievement and highlighted ongoing efforts including ramping up the Stage 2 Expansion and planning for a Stage 3 Expansion. Exploration activities show promising results with only 20% of the vein field tested. K92 Mining operates the Kainantu Gold Mine in Papua New Guinea, producing gold, copper, and silver since declaring commercial production in February 2018.
K92 Mining announced significant results from the Kora deposit at the Kainantu gold mine, highlighting multiple high-grade intersections in recent diamond drilling. Key findings include drill hole KMDD0383, which recorded 6.45 m at 106.95 g/t gold equivalent (AuEq) from the K1 vein. Overall, 32 drill holes showed high-grade mineralization, with 8 intersections exceeding 20 g/t AuEq. This data supports resource upgrades for the upcoming Stage 3 Expansion Feasibility Study.
K92 Mining has announced promising results from diamond drilling on the Judd vein system at the Kainantu Gold Mine in Papua New Guinea. Significant intersections include:
- JDD0022: 8.51 m at 48.56 g/t Au, 47 g/t Ag, 0.54% Cu (49.93 g/t AuEq)
- JDD0019: 3.70 m at 52.27 g/t Au, 39 g/t Ag, 0.60% Cu (53.63 g/t AuEq)
- JDD0021: 8.35 m at 17.87 g/t Au, 28 g/t Ag, 0.67% Cu (19.18 g/t AuEq)
All drilled holes intersected mineralization, with 29% exceeding 20 g/t AuEq. The company plans to initiate stoping in Q4 2021 as drilling continues to define the maiden resource.