K92 Mining announces record tonnage treated in Q2, gold production 25% above budget from Kainantu mine

July 3, 2019

Vancouver’s K92 Mining has announced record throughput from their Kainantu Gold Mine in Papua New Guinea in Q2 with production 25% above budget at 19,652 oz AuEq.

During Q2, K92 produced 18,980 oz of gold, 261,800 pounds of copper and 6,894 oz of silver or 19,652 AuEq oz (based on a gold price of US $1,300/oz; silver US $16.5/oz; copper US $2.90/lb). Production for the first half of 2019 was 39,437 AuEq oz compared with production of 47,237 for the entire year in 2018. Recoveries for the first half of the year averaged 93.4% for gold and 93.2% copper.

Tonnage treated through the process plant increased by over 40% from the previous record quarter to 37,913 tonnes, at average grade of 16.7 g/t gold and 0.34% copper, achieving recoveries of 93.2% for gold and 92.5% for copper

K92’s CEO and Director said that the results were particularly pleasing to achieve at a time when the operating team is also working on our expansion project designed to double throughput and production.

“The metallurgical and project services team have almost completed the installation of the gravity circuit and gold room and will commence commissioning in July. The mining team has numerous mining projects either completed or underway, including the dewatering, ventilation upgrade, incline upgrade, bulk explosives mining system, portal workshop and many others.”

Looking forward, based on the preliminary economic assessment published in January this year, Based on the results of the PEA, K92 are projecting total production over the next 13 years would be 1.33 million oz gold and 130 million lbs copper, and that total revenue for the period would be over US $2 billionm with royalty payments for the period would be US $50 million.

For more details visit – https://www.k92mining.com/2019/07/k92-mining-announces-record-tonnage-treated-in-second-quarter-with-gold-production-25-above-budget-from-kainantu-gold-mine/

About K92 Mining

K92 Mining Inc is focused on advancing the Kainantu Gold Mine, located in the Eastern Highlands province of Papua New Guinea, towards production. The Kainantu property covers a total area of approx. 410 km2 and was previously mined by Highlands Pacific and Barrick Gold from 2006-2009. K92 Mining Inc. was purpose built for the acquisition of the Kainantu Gold Mine. In addition to targeting a move towards production, K92 will focus on ‎both expanding known areas of mineralization and drilling high priority exploration targets.

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James Hyland, MiningIR