Name of the Mine
Kainantu mine.

Location
Eastern Highlands province, Papua New Guinea.

Project Owner/s
K92 Mining Inc.
 
Brief Description  
Kainantu is a low-cost, high-grade operation, based on the continuity, solid thickness, and geotechnical and metallurgical characteristics of the deposit.

The property hosts many highly prospective vein field and porphyry targets, including Kora, Irumafimpa, Karempe, Judd, Kora South, Judd South, Mati, Maniape and Arakompa. Mining is focused on the Kora vein system, comprising dominant veins, and the Judd vein system, comprising four known veins, with one vein being mined. 

Brief History  
K92 acquired the mine from Barrick Gold in 2014 and restarted operations in late 2016.

Primary Metals/Minerals  
Gold.

Secondary Metals/Minerals  
Silver and copper.

Geology/Mineralisation  
The Kainantu deposit is located in an area underlain by green schist to amphibolite facies metamorphic rocks of the Early Miocene Bena Bena formation, which are unconformably overlain by the Miocene age Omaura formation comprising volcano-sedimentary units and limestone lenses. The overlying Yaveufa formation comprises basaltic and andesitic flows, agglomerates, volcanoclastic sandstone and limestone. The mid-Miocene Akuna Intrusive Complex consists of multiple phases ranging from olivine gabbros, dolerites, hornblende gabbros and biotite diorites to granodiorites. Late Miocene age Elandora porphyry intrusions and breccias are associated with mineralisation and occur within proximity to a major north-north-east-trending transfer structure. Mineralisation on the property includes gold, silver and copper occurring in low sulphidation epithermal gold-telluride veins, gold/copper/silver sulphide veins of intrusion-related gold copper affinity, less explored porphyry copper/gold systems and alluvial gold.

Reserves  
None stated.

Resources  
Consolidated measured and indicated resources as at September 30, 2023, were estimated at 8.7-million tonnes grading 8.1 g/t gold, 20 g/t silver and 1.1% copper. Inferred mineral resources were estimated at 17.1-million tonnes grading 5.8 g/t gold, 26 g/t silver and 1.5% copper.

Blue Lake, a discovery made by K92 in August 2022, has inferred resources of 549-million tonnes grading 0.21 g/t gold, 2.42 g/t silver and 0.23% copper.

Type of Mine
Underground.

Mining Method  
Longhole stoping with limited cut-and-fill stoping. Current mining operations are focused on the Kora deposit, with some production from the Judd vein system.

Major Infrastructure/Equipment  
The mine is serviced by a sealed road from Lae to within 8 km of the site, nearby Gusap Airstrip in the Ramu Valley. The mine also has grid power from the nearby Yonki dam hydroelectric scheme, with full on-site power generation on standby. The underground mine is located on mining lease 150, or ML 150; while the process plant, offices, workshops, stores, camp and tailings storage facility are located on a lease for mining purposes 78, or LMP 78.

Mining is mechanised using twin- and single-boom jumbos, load-haul dumpers and trucks. The mining fleet is modern, and uses some of the latest technology.

Prospects  
Kainantu is being expanded in multiple stages, with the Stage 2 expansion run-rate achieved in late 2021. The Stage 2A expansion was commissioned in May 2023 increasing throughput to 500 000 t/y. The Stage 3 expansion is targeting commissioning in late April 2025, which is expected to increase throughput to one-million tonnes a year. Stage 4 is scheduled for commissioning in the second half of 2026 and will expand throughput to 1.7-million tonnes a year.

Contact Details 
K92 Mining Inc
Tel +1 604 416 4445
Email ir@k92mining.com

Kainantu Mine
Tel +675 71002451
Email site@k92mining.com

Sources
K92 Mining Inc. Website: https://k92mining.com/