K92 Mining Inc. (“
K92” or the
“
Company”) (TSX:
KNT; OTCQX:
KNTNF) is pleased to announce its third set of
drilling results consisting of 19 holes for total results of 30
holes released to date from its maiden surface diamond drill
program at Arakompa, located approximately 4.5 km from the Kainantu
Gold Mine Process Plant in Papua New Guinea. K92’s maiden drill
program at Arakompa represents the first drilling on the target in
32 years, with limited historic drilling completed, comprising 18
holes totaling 1.8 km of mostly shallow drilling.
- Potential thick high-grade
zone discovered from two holes stepping out 250 metres along strike
to the south, encountering both high-grade and bulk mineralized
zones (see Figures 1-2 & 4), with:
- KARDD0029 recording 20.60 m
at 9.87 g/t gold equivalent (“AuEq”)(2)
(8.90 g/t Au, 29 g/t Ag, 0.38% Cu), including 10.70 m at
14.97 g/t AuEq (13.81 g/t Au, 25 g/t Ag, 0.53% Cu).
- Located ~60 metres up-dip,
KARDD0025 recording 23.60 m at 6.57 g/t AuEq(2) (5.89 g/t
Au, 8 g/t Ag, 0.35% Cu) including 12.00 m at 11.16 g/t
AuEq (10.49 g/t Au, 11 g/t Ag, 0.33% Cu). A separate vein
intersection of 2.90 m at 11.47 g/t AuEq (11.26
g/t Au, 9 g/t Ag, 0.06% Cu) was also recorded.
- Drilling at KARDD0029 is underway
for the remainder of hole.
- Significant extension of
bulk tonnage strike by ~250 metres to the south to a total
interpreted strike now exceeding 750 metres, from long step-out
drill holes, with highlights including:
- KARDD0025 (~250 m southern
step-out along strike): 100.80 m at 1.92 g/t
AuEq (1.71 g/t Au, 3 g/t Ag, 0.10% Cu)
- KARDD0030 (~125 m southern
step-out along strike): 111.62 m at 1.53 g/t AuEq (1.35
g/t Au, 4 g/t Ag, 0.08% Cu)
- Multiple high-grade
intersections encountered. Drill highlights in addition to the
highlights from KARDD0025 and 29 above, include:
- KARDD0018: 1.30 m at 35.72
g/t AuEq (35.29 g/t Au, 17 g/t Ag, 0.14% Cu)
and
4.00 m at 6.59 g/t AuEq
(6.15 g/t Au, 30 g/t Ag, 0.04% Cu)
- KARDD0030: 5.40 m at 5.88
g/t AuEq (5.01 g/t Au, 15 g/t Ag, 0.43% Cu)
and
5.53 m at 4.04 g/t AuEq (3.38
g/t Au, 13 g/t Ag, 0.31% Cu) and
1.62 m at
33.52 g/t AuEq (33.38 g/t Au, 4 g/t Ag, 0.05% Cu)
and
1.40 m at 30.99 g/t AuEq
(30.77 g/t Au, 13 g/t Ag, 0.04% Cu)
- KARDD0013: 7.10 m at 5.69
g/t AuEq (5.47 g/t Au, 13 g/t Ag, 0.04% Cu)
- KARDD0028: 7.00 m at 5.26
g/t AuEq (5.04 g/t Au, 10 g/t Ag, 0.06% Cu)
- KARDD0023: 2.00 m at 14.60
g/t AuEq (12.44 g/t Au, 60 g/t Ag, 0.88% Cu)
- KARDD0015: 4.20 m at 6.55
g/t AuEq (6.08 g/t Au, 12 g/t Ag, 0.20% Cu)
and
3.10 m at 5.11 g/t AuEq
(5.07 g/t Au, 2 g/t Ag, 0.01% Cu)
- KARDD0020: 2.70 m at 6.61
g/t AuEq (4.28 g/t Au, 175 g/t Ag, 0.09% Cu)
- KARDD0014: 1.40 m at 11.51
g/t AuEq (11.06 g/t Au, 19 g/t Ag, 0.13% Cu)
- K92 has defined a
substantial interpreted bulk tonnage zone extending over 750
meters, with bulk tonnage intersections reported to date recording
an average true thickness of 56 meters and mineralization reaching
a vertical depth of up to 350 meters. In addition to the bulk
intersections at KARD0025 and KARDD0030, highlights
include:
- KARDD0018: 57.0 m at 1.58
g/t AuEq (1.47 g/t Au, 5 g/t Ag, 0.02% Cu)
- KARDD0028: 45.9 m at 1.88
g/t AuEq (1.72 g/t Au, 5 g/t Ag, 0.06% Cu)
- KARDD0015: 32.7 m at 2.19
g/t AuEq (1.97 g/t Au, 4 g/t Ag, 0.10% Cu)
- KARDD0013: 36.9 m at 1.53
g/t AuEq (1.40 g/t Au, 3 g/t Ag, 0.04% Cu)
- KARDD0020: 33.9 m at 1.10
g/t AuEq (0.73 g/t Au, 22 g/t Ag, 0.06% Cu)
- KARDD0023: 32.4 m at 1.00
g/t AuEq (0.83 g/t Au, 5 g/t Ag, 0.06% Cu) and
19.6 m at 1.04 g/t AuEq (0.72
g/t Au, 8 g/t Ag, 0.14% Cu)
- KARDD0027: 23.3 m at 1.05
g/t AuEq (0.98 g/t Au, 2 g/t Ag, 0.02% Cu)
- KARDD0016: 19.7 m at 1.06
g/t AuEq (0.73 g/t Au, 11 g/t Ag, 0.11% Cu)
- KARDD0019: 17.2 m at 1.12
g/t AuEq (0.67 g/t Au, 15 g/t Ag, 0.17% Cu)
- Exploration expanded from
one drill rig at the beginning of 2024, to currently four drill
rigs at Arakompa. Mineralization is open along strike, at depth and
only approximately 40% of the +1.7 km mineralized corridor strike
length has been drill tested to date by K92, defined from rock
chips, historic drilling and local workings (see Figure
1).
- K92 is targeting a maiden
mineral resource estimate for Arakompa by Q1
2025.Notes:(1) Drill highlights presented
above are core lengths (not true widths).(2) Gold
equivalent (AuEq) exploration results are calculated using
longer-term commodity prices with a copper price of US$4.00/lb, a
silver price of US$22.5/oz and a gold price of US$1,750/oz.
John Lewins, K92 Chief Executive Officer and
Director, stated, “The significant and rapid progress at Arakompa
is a very exciting time for K92, our stakeholders and Papua New
Guinea. These latest 19 holes reported extended the known strike
length by approximately 50%, discovered a potential thick
high-grade zone at the southern limit of K92’s drilling to date
towards the Tankaunan Porphyry, while also extending the bulk
mineralized zone a commensurate amount along strike. With Arakompa
open in both directions along strike, we believe that we are still
only scratching the surface and this is precisely why we have
increased the number of drill rigs from one in Q1 2024 to now
four.
Later this month, we are also very excited to be
hosting a large group of analysts and investors on site to showcase
the significant progress made to date in multiple areas, including
at Arakompa, in addition to the mining-friendly jurisdiction of
Papua New Guinea.”
Chris Muller, K92 Executive Vice President,
Exploration, stated, “Progressive drilling at Arakompa has
demonstrated continuation of multiple lodes within the already
substantial vein system. Drilling so far has tested less than half
of the +1.7km strike length of the Arakompa corridor and to a
maximum depth of 400m, representing just a small fraction of the
presumed expansive set of mineralized veins.
The high grades and appreciable widths, as well
as the characteristics and composition, of the Arakompa veins have
all the hallmarks of the Kora consolidated veins and are equally as
prospective. Four rigs are drilling on a prescribed spacing at
Arakompa, on track to define a maiden modern resource estimate
early in 2025.”
Arakompa Vein System
Background
The Arakompa project is interpreted to be an
intrusive related gold-copper-silver epithermal vein system with
similarities to the producing Kora and Judd vein systems. A
significant difference at Arakompa is that it is hosted in tonalite
to dioritic rock, whereas Kora and Judd are hosted predominantly in
metasediments (phyllite).
Mineralization at Arakompa is in pronounced vein
lodes but is also widespread across a very broad envelope, hosted
in strongly altered tonalite and diorite. This has been interpreted
to have resulted from collapsing argillic and advanced argillic
alteration, and the propylitic alteration of the basement tonalite
are interpreted to originate from the intrusion of a large magmatic
porphyry body. Phyllic alternation appears to be associated with
gold mineralization, providing a large halo (at least 100 m wide)
around the vein corridor. There has likely been an upwelling of
phyllic alteration from the porphyry into the high-grade veins.
This has resulted in mineralization between the veins, providing
the potential for bulk mining.
Multi-stage mineralizing events with several
phases of quartz-sulphide development are apparent within the veins
themselves. The sequence of early quartz deposited from a
mesothermal dilute fluid followed by pyrite-copper-gold ±
Bi-Te-Pb-Zn-Sn mineralization at Arakompa has many similarities to
the same events encountered at Kora and Judd.
The main sulphides are pyrite, chalcopyrite,
bornite and bismuthinite. As at Kora, chalcopyrite forms late,
overprinting early phases of pyrite. Gold is documented in
petrological reports and shown in photomicrographs as occurring in
quartz, or often as inclusions overgrown by chalcopyrite.
Porphyry evidence is widespread at Arakompa.
Localized, high-level B veins (quartz with centreline pyrite) are
present, typical of the upper parts of a porphyry system.
Magnetite-epidote alteration represents classic prograde porphyry
assemblages, indicative of the inner propylitic shell. Chalcocite
is also locally present, suggesting an underlying copper-enriched
body.
The maiden drill program by K92 is the first
drilling completed on the target in 32 years, with limited and
shallow drilling completed historically (18 holes, 1,766 m
drilled). Of the 18 holes drilled historically, there were 15
intersections above 5 g/t AuEq, 8 intersections above 10 g/t AuEq
and 3 intersections above 20 g/t AuEq, with highlights
including:
004DA92 – 4.00 m at 32.03 g/t AuEq (3.32 m true
thickness)013AD92 – 4.00 m at 20.21 g/t AuEq (3.40 m true
thickness)001AD92 – 2.80 m at 16.18 g/t AuEq (2.41 m true
thickness)005AD92 – 2.00 m at 32.01 g/t AuEq (1.26 m true
thickness)016AD92 – 6.30 m at 14.96 g/t AuEq (2.39 m true
thickness)010AD92 – 9.20 m at 10.67 g/t AuEq (4.32 m true
thickness)
Surface field work completed historically and by
K92 has demonstrated that the target size of Arakompa is
significant, with mineralization observed from drill holes, rock
samples and surface workings for at least 1.7 km of strike, hosted
within an approximately 150- to 225-m-wide mineralized intense
phyllic altered package, and a vertical extent of over 500 m.
Figures
A plan map for Arakompa is provided in Figure
1.
A cross section showing KARDD0025 and KARDD0029 at Arakompa is
provided in Figure 2.
A cross section showing KARDD0030 at Arakompa is provided in
Figure 3.
A long section showing Arakompa drilling to date is provided in
Figure 4.
A location map is provided in Figure 5.
Core photographs of drill hole KARDD0025 are provided in
Figure 6.
Table 1Kainantu Gold
Mine – Significant Intercepts from Arakompa Diamond
Drilling
Hole ID |
From (m) |
To (m) |
Interval (m) |
True width (m) |
Gold g/t |
Silver g/t |
Copper % |
Gold Eq |
Vein |
KARDD0012 |
246.80 |
370.20 |
123.40 |
66.64 |
0.25 |
1 |
0.03 |
0.32 |
Bulk Intersection |
KARDD0013 |
0.00 |
36.90 |
36.90 |
29.52 |
1.40 |
3 |
0.04 |
1.53 |
Bulk Intersection |
KARDD0013 |
12.90 |
20.00 |
7.10 |
5.68 |
5.47 |
13 |
0.04 |
5.69 |
|
KARDD0014 |
74.20 |
225.50 |
151.30 |
136.17 |
0.32 |
2 |
0.03 |
0.40 |
Bulk Intersection |
KARDD0014 |
74.20 |
75.50 |
1.30 |
1.17 |
2.36 |
50 |
1.37 |
5.19 |
|
KARDD0014 |
218.00 |
219.40 |
1.40 |
1.26 |
11.06 |
19 |
0.13 |
11.51 |
|
KARDD0014 |
225.00 |
225.50 |
0.50 |
0.45 |
5.54 |
35 |
0.25 |
6.38 |
|
KARDD0015 |
312.50 |
345.20 |
32.70 |
17.66 |
1.97 |
4 |
0.10 |
2.19 |
Bulk Intersection |
KARDD0015 |
318.20 |
322.40 |
4.20 |
2.27 |
6.08 |
12 |
0.20 |
6.55 |
|
KARDD0015 |
340.00 |
343.10 |
3.10 |
1.67 |
5.07 |
2 |
0.01 |
5.11 |
|
KARDD0016 |
101.50 |
121.20 |
19.70 |
12.02 |
0.73 |
11 |
0.11 |
1.06 |
Bulk Intersection |
KARDD0016 |
112.00 |
116.30 |
4.30 |
2.62 |
2.22 |
18 |
0.18 |
2.73 |
|
KARDD0017 |
229.50 |
307.60 |
78.10 |
70.29 |
0.21 |
2 |
0.02 |
0.26 |
Bulk Intersection |
KARDD0018 |
66.80 |
123.80 |
57.00 |
39.33 |
1.47 |
5 |
0.02 |
1.58 |
Bulk Intersection |
KARDD0018 |
66.80 |
70.80 |
4.00 |
2.76 |
6.15 |
30 |
0.04 |
6.59 |
|
KARDD0018 |
122.50 |
123.80 |
1.30 |
0.90 |
35.29 |
17 |
0.14 |
35.72 |
|
KARDD0019 |
255.70 |
272.90 |
17.20 |
11.87 |
0.67 |
15 |
0.17 |
1.12 |
Bulk Intersection |
KARDD0020 |
116.10 |
150.00 |
33.90 |
23.39 |
0.73 |
22 |
0.06 |
1.10 |
Bulk Intersection |
KARDD0020 |
105.90 |
106.60 |
0.70 |
0.48 |
4.95 |
47 |
0.04 |
5.60 |
|
KARDD0020 |
116.10 |
116.90 |
0.80 |
0.55 |
9.14 |
43 |
0.28 |
10.12 |
|
KARDD0020 |
148.30 |
151.00 |
2.70 |
1.86 |
4.28 |
175 |
0.09 |
6.61 |
|
KARDD0021 |
72.30 |
280.20 |
207.90 |
143.45 |
0.20 |
1 |
0.02 |
0.25 |
Bulk Intersection |
KARDD0022 |
127.80 |
376.40 |
248.60 |
124.30 |
0.15 |
2 |
0.02 |
0.20 |
Bulk Intersection |
KARDD0023 |
78.00 |
110.40 |
32.40 |
19.44 |
0.83 |
5 |
0.06 |
1.00 |
Bulk Intersection |
KARDD0023 |
328.00 |
347.60 |
19.60 |
11.76 |
0.72 |
8 |
0.14 |
1.04 |
Bulk Intersection |
KARDD0023 |
78.00 |
78.80 |
2.00 |
1.20 |
12.44 |
60 |
0.88 |
14.60 |
|
KARDD0023 |
346.50 |
349.00 |
2.50 |
1.50 |
2.11 |
29 |
0.68 |
3.57 |
|
KARDD0024 |
190.60 |
276.30 |
85.70 |
51.36 |
0.20 |
2 |
0.03 |
0.29 |
Bulk Intersection |
KARDD0025 |
191.00 |
299.80 |
100.80 |
50.40 |
1.71 |
3 |
0.10 |
1.92 |
Bulk Intersection |
KARDD0025 |
191.00 |
214.60 |
23.60 |
11.80 |
5.89 |
8 |
0.35 |
6.57 |
Potential Southern HG Zone |
KARDD0025 |
199.00 |
211.00 |
12.00 |
6.00 |
10.49 |
11 |
0.33 |
11.16 |
Potential Southern HG Zone |
KARDD0025 |
199.00 |
200.40 |
1.40 |
0.70 |
65.62 |
64 |
1.01 |
68.05 |
|
KARDD0025 |
296.90 |
299.80 |
2.90 |
1.45 |
11.26 |
9 |
0.06 |
11.47 |
|
KARDD0025 |
334.40 |
338.30 |
3.90 |
1.95 |
3.15 |
4 |
0.04 |
3.27 |
|
KARDD0026 |
180.50 |
280.70 |
100.20 |
70.14 |
0.18 |
2 |
0.01 |
0.22 |
Bulk Intersection |
KARDD0027 |
0.00 |
23.30 |
23.30 |
11.65 |
0.98 |
2 |
0.02 |
1.05 |
Bulk Intersection |
KARDD0028 |
83.00 |
128.90 |
45.90 |
32.13 |
1.72 |
5 |
0.06 |
1.88 |
Bulk Intersection |
KARDD0028 |
101.20 |
107.80 |
6.60 |
4.62 |
2.95 |
3 |
0.05 |
3.08 |
|
KARDD0028 |
113.00 |
120.00 |
7.00 |
4.90 |
5.04 |
10 |
0.06 |
5.26 |
|
KARDD0028 |
123.60 |
128.90 |
5.30 |
3.71 |
2.83 |
19 |
0.21 |
3.40 |
|
KARDD0029 |
240.60 |
261.20 |
20.60 |
8.24 |
8.90 |
29 |
0.38 |
9.87 |
Potential Southern HG Zone |
KARDD0029 |
240.60 |
251.30 |
10.70 |
4.28 |
13.81 |
25 |
0.53 |
14.97 |
Potential Southern HG Zone |
KARDD0030 |
216.50 |
328.12 |
111.62 |
78.13 |
1.35 |
4 |
0.08 |
1.53 |
Bulk Intersection |
KARDD0030 |
30.00 |
30.90 |
0.90 |
0.63 |
3.61 |
2 |
0.02 |
3.66 |
|
KARDD0030 |
46.50 |
47.90 |
1.40 |
0.98 |
30.77 |
13 |
0.04 |
30.99 |
|
KARDD0030 |
101.70 |
104.00 |
2.30 |
1.61 |
3.49 |
10 |
0.02 |
3.64 |
|
KARDD0030 |
233.10 |
238.50 |
5.40 |
3.78 |
5.01 |
15 |
0.43 |
5.88 |
|
KARDD0030 |
241.30 |
241.70 |
0.40 |
0.28 |
3.93 |
15 |
0.21 |
4.45 |
|
KARDD0030 |
255.57 |
261.10 |
5.53 |
3.87 |
3.38 |
13 |
0.31 |
4.04 |
|
KARDD0030 |
276.20 |
279.50 |
3.30 |
2.31 |
2.52 |
17 |
0.46 |
3.47 |
|
KARDD0030 |
285.73 |
290.60 |
4.87 |
3.41 |
3.29 |
7 |
0.03 |
3.43 |
|
KARDD0030 |
326.50 |
328.12 |
1.62 |
1.13 |
33.38 |
4 |
0.05 |
33.52 |
|
Table 2Kainantu Gold
Mine – Collar Locations for Arakompa Surface Drilling
Hole ID |
Collar location |
|
Collar orientation |
Local North |
Local East |
mRL |
Dip |
Local azimuth |
EOH depth (m) |
KARDD0012 |
70125 |
90159 |
1449 |
-46 |
228 |
424 |
KARDD0013 |
70094 |
90216 |
1424 |
-60 |
287 |
362 |
KARDD0014 |
69953 |
90053 |
1415 |
-44 |
47 |
312 |
KARDD0015 |
70119 |
90162 |
1433 |
-58 |
237 |
362 |
KARDD0016 |
70088 |
90216 |
1415 |
-61 |
89 |
385 |
KARDD0017 |
69949 |
90059 |
1419 |
-46 |
83 |
315 |
KARDD0018 |
70123 |
90163 |
1434 |
-46 |
280 |
301 |
KARDD0019 |
70089 |
90215 |
1415 |
-75 |
88 |
286 |
KARDD0020 |
70090 |
90215 |
1415 |
-75 |
83 |
314 |
KARDD0021 |
69949 |
90060 |
1419 |
-75 |
74 |
314 |
KARDD0022 |
70125 |
90162 |
1434 |
-60 |
273 |
455 |
KARDD0023 |
69957 |
90057 |
1419 |
-58 |
121 |
445 |
KARDD0024 |
70098 |
90214 |
1427 |
-51 |
135 |
276 |
KARDD0025 |
70110 |
89642 |
1573 |
-62 |
267 |
357 |
KARDD0026 |
69949 |
90060 |
1419 |
-44 |
58 |
308 |
KARDD0027 |
70088 |
90217 |
1428 |
-71 |
41 |
295 |
KARDD0028 |
69963 |
89879 |
1447 |
-60 |
89 |
300 |
KARDD0029 |
70107 |
89642 |
1577 |
-71 |
271 |
450 |
KARDD0030 |
70204 |
89814 |
1519 |
-47 |
260 |
368 |
Drill Hole Sampling Methodology, QA/QC
and Qualified Person
The diamond drill hole is first logged to
determine the sampling intervals, which range from a minimum of 0.1
metres to generally 1 metre. The drill core is sawn half core cut
along a reference line, with the remainder of the core returned to
the core tray. Core samples are then placed in numbered calico and
plastic bags, with a numbered sample ticket for dispatch to the
assay laboratory. Samples are separately assayed for gold, copper
and silver. K92’s procedure includes the insertion standards,
blanks and duplicates. Gold assays are by the fire assay method.
Copper and silver assays are by three-acid-digestion method
(nitric, perchloric and hydrochloric mix).
K92 maintains an industry-standard analytical
quality assurance and quality control (QA/QC) and data verification
program to monitor laboratory performance and ensure high quality
assays. Results from this program confirm reliability of the assay
results. All sampling and analytical work for the mine exploration
program is performed by Intertek Testing Services (PNG) Ltd, an
independent accredited laboratory that is located on site. External
check assays for QA/QC purposes are performed at SGS Australia Pty
Ltd in Townsville, Queensland, Australia.
K92 Executive Vice President, Exploration, Mr.
Chris Muller, PGeo, and K92 Mine Geology Manager and Mine
Exploration Manager, Andrew Kohler, MAIG, both Qualified Persons
under the meaning of National Instrument 43-101 – Standards of
Disclosure for Mineral Projects, have reviewed and are responsible
for the technical content of this news release. In addition to the
analytical QA/QC program outlined above, data verification also
includes significant time onsite reviewing drill core, soil and
outcrop sampling, artisanal workings, as well as discussing work
programs and results with geology personnel and external
consultants.
About K92
K92 Mining Inc. is engaged in the production of
gold, copper and silver at the Kainantu Gold Mine in the Eastern
Highlands province of Papua New Guinea, as well as exploration and
development of mineral deposits in the immediate vicinity of the
mine. The Company declared commercial production from Kainantu in
February 2018, is in a strong financial position, and is working to
become a Tier 1 mid-tier producer through ongoing plant expansions.
A maiden resource estimate on the Blue Lake copper-gold porphyry
project was completed in August 2022. K92 is operated by a team of
mining company professionals with extensive international
mine-building and operational experience.
On Behalf of the Company,
John Lewins, Chief Executive Officer and
Director
For further information, please contact David
Medilek, P.Eng., CFA, President and Chief Operating Officer at
+1-604-416-4445
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING
INFORMATION: This news release includes certain “forward-looking
statements” under applicable Canadian securities legislation. Such
forward-looking statements include, without limitation: (i) the
results of the Kainantu Mine Definitive Feasibility Study, and the
Kainantu 2022 Preliminary Economic Assessment, including the Stage
3 Expansion, a new standalone 1.2 mtpa process plant and supporting
infrastructure; (ii) statements regarding the expansion of the mine
and development of any of the deposits; (iii) the Kainantu Stage 4
Expansion, operating two standalone process plants, larger surface
infrastructure and mining throughputs; and (iv) the potential
extended life of the Kainantu Mine.
All statements in this news release that address
events or developments that we expect to occur in the future are
forward-looking statements. Forward-looking statements are
statements that are not historical facts and are generally,
although not always, identified by words such as “expect”, “plan”,
“anticipate”, “project”, “target”, “potential”, “schedule”,
“forecast”, “budget”, “estimate”, “intend” or “believe” and similar
expressions or their negative connotations, or that events or
conditions “will”, “would”, “may”, “could”, “should” or “might”
occur. All such forward-looking statements are based on the
opinions and estimates of management as of the date such statements
are made. Forward-looking statements are necessarily based on
estimates and assumptions that are inherently subject to known and
unknown risks, uncertainties and other factors, many of which are
beyond our ability to control, that may cause our actual results,
level of activity, performance or achievements to be materially
different from those expressed or implied by such forward-looking
information. Such factors include, without limitation, Public
Health Crises, including the COVID-19 virus; changes in the price
of gold, silver, copper and other metals in the world markets;
fluctuations in the price and availability of infrastructure and
energy and other commodities; fluctuations in foreign currency
exchange rates; volatility in price of our common shares; inherent
risks associated with the mining industry, including problems
related to weather and climate in remote areas in which certain of
the Company’s operations are located; failure to achieve
production, cost and other estimates; risks and uncertainties
associated with exploration and development; uncertainties relating
to estimates of mineral resources including uncertainty that
mineral resources may never be converted into mineral reserves; the
Company’s ability to carry on current and future operations,
including development and exploration activities; the timing,
extent, duration and economic viability of such operations,
including any mineral resources or reserves identified thereby; the
accuracy and reliability of estimates, projections, forecasts,
studies and assessments; the Company’s ability to meet or achieve
estimates, projections and forecasts; the availability and cost of
inputs; the availability and costs of achieving the Stage 3
Expansion or the Stage 4 Expansion; the ability of the Company to
achieve the inputs the price and market for outputs, including
gold, silver and copper; failures of information systems or
information security threats; political, economic and other risks
associated with the Company’s foreign operations; geopolitical
events and other uncertainties, such as the conflicts in Ukraine,
Israel and Palestine; compliance with various laws and regulatory
requirements to which the Company is subject to, including
taxation; the ability to obtain timely financing on reasonable
terms when required; the current and future social, economic and
political conditions, including relationship with the communities
in Papua New Guinea and other jurisdictions it operates; other
assumptions and factors generally associated with the mining
industry; and the risks, uncertainties and other factors referred
to in the Company’s Annual Information Form under the heading “Risk
Factors”.
Estimates of mineral resources are also
forward-looking statements because they constitute projections,
based on certain estimates and assumptions, regarding the amount of
minerals that may be encountered in the future and/or the
anticipated economics of production. The estimation of mineral
resources and mineral reserves is inherently uncertain and involves
subjective judgments about many relevant factors. Mineral resources
that are not mineral reserves do not have demonstrated economic
viability. The accuracy of any such estimates is a function of the
quantity and quality of available data, and of the assumptions made
and judgments used in engineering and geological interpretation,
Forward-looking statements are not a guarantee of future
performance, and actual results and future events could materially
differ from those anticipated in such statements. Although we have
attempted to identify important factors that could cause actual
results to differ materially from those contained in the
forward-looking statements, there may be other factors that cause
actual results to differ materially from those that are
anticipated, estimated, or intended. There can be no assurance that
such statements will prove to be accurate, as actual results and
future events could differ materially from those anticipated in
such statements. Accordingly, readers should not place undue
reliance on forward-looking statements. The Company disclaims any
intention or obligation to update or revise any forward-looking
statements, whether as a result of new information, future events
or otherwise, except as required by law.
Figure 1 – Arakompa Plan Map
Figure 2 – Arakompa Cross-Section – Showing KARDD0025
and KARDD0029
Figure 3 – Arakompa Cross-Section – Showing
KARDD0030
Figure 4 – Arakompa Long Section
Figure 5 – Site Map and Location of Arakompa, located
near infrastructure (~4.5km from the Process Plant).
Figure 6 – KARDD0025 Core Photograph,
196.5 – 211.0m – from 199.0 to 211.0 m is 12.0 m at 11.16 g/t AuEq
intersection, within a broader 23.6 m at 6.57 g/t AuEq
intersection.
Figures accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/7e6aedaf-fe93-47e2-a90b-415bcf7a1197https://www.globenewswire.com/NewsRoom/AttachmentNg/2f917076-acc4-44e6-bec4-6401a248fc6fhttps://www.globenewswire.com/NewsRoom/AttachmentNg/c69d2370-cab2-475c-a85c-7ccbd523c186https://www.globenewswire.com/NewsRoom/AttachmentNg/b8bd25d4-27eb-4db7-b5b2-8f1cda308ae7https://www.globenewswire.com/NewsRoom/AttachmentNg/f993c8f3-7e51-49b4-b1a9-17a6650b2590https://www.globenewswire.com/NewsRoom/AttachmentNg/04bbccf0-4e53-49f7-8d6d-eb0df09cbcd8
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