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Papua New Guinea
Kainantu (Expansion) Project (Kainantu)

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 Location:
140 km NW from Lae, Papua New Guinea

  Project Contacts:
PO Box 1290 Morobe Province 411
Lae
Papua New Guinea
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  • Overview
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Overview

StagePreliminary Economic Assessment
Mine TypeUnderground
Commodities
  • Gold
  • Copper
  • Silver
Mining Method
  • Longhole stoping
  • Paste backfill
Mine Life12 years (as of Jan 1, 2020)


Owners

Source: p. 13
CompanyInterestOwnership
K92 Holdings International Limited 100 % Indirect
The Project is 100% owned by K92 Mining Limited (K92ML) (formerly Barrick (Kainantu) Limited); a company incorporated in Papua New Guinea, which is 100% owned by K92 Holdings (PNG) Limited (K92PNG), a 100% owned subsidiary of K92 Holdings International Limited (K92 Holdings).

Contractors

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Deposit Type

  • Porphyry
  • Vein / narrow vein
  • Epithermal


Summary:

Gold-copper deposits within the SW Pacific Magmatic Arcs have been classified into three main groups by Corbett and Leach (Corbett and Leach, 1997; Corbett, 2009):
• Porphyry-related (including gold skarn).
• High sulphidation gold-copper.
• Low sulphidation (including sediment-hosted replacement).

Telescoping may overprint the varying styles of low sulphidation gold mineralization upon each other or upon the source porphyry intrusion.

Hydrothermal porphyry-related activity in the Kainantu area may have been protracted and associated with more than one intrusive phase (17 Ma to younger than 7 Ma). According to Corbett (2009), while the accepted wisdom is that porphyry Cu-Au mineralization in the Kainantu region is related to Elandora style porphyry intrusions, the coincidence of prograde alteration (Kokofimpa area; K-feldspar alteration) with Akuna-style diorite intrusions suggests alteration and mineralization may have been initiated at an earlier Akuna age and continued to an association with Elandora intrusions. The presence of Elandora clasts within advanced argillic alerted breccias, is consistent with a protracted history of activity. The (17-13 Ma) extended age of Akuna intrusions provides for batholitic intrusions to be overprinted by the mineralized phase recognised herein and distinguished from the younger (9-7 Ma) Elandora-style intrusions. Corbett (2009) recommends limited age dating is conducted once field relationships are e ........


Mining Methods

  • Longhole stoping
  • Paste backfill


Summary:

Although longhole stoping represents a considerably larger scale of mining than cut and fill, it is still a relatively selective mining method which allows extraction of high grade, yet relatively narrow, ore zones. The longhole stoping method is based on drilling and blasting ore in vertical rings from drives spaced 20m apart vertically, floor-to-floor, forming stopes 25m high. Stope widths will range from 3m to 15m and strike lengths will vary depending on localised ground conditions.

The average stope width generated using the MSO program is 5.2m, with most stopes less than 8m in width and only 8% of the shapes being greater than 8m wide.

Stopes will be extracted along strike initially in a bottom-up sequence with each stope progressively backfilled for stability and to provide a working base for the next stope above. The Avoca method would be used to limit the strike length of the open stope to maintain stability of the side walls and backs. Stopes will be progressively backfilled from the opposite end to where the stope is being blasted and loaded out.

Where access is not available to both ends of a stope the Modified Avoca method will be used. This method involves tight filling the stope against the ore face after each firing has been loaded out. The next ore blast can be fired against the tight-placed fill, or the fill can be partly mucked out to provide expansion space for the blast. Although Modified Avoca requires less lateral dev ........


Crushing and Grinding
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Processing

Flow Sheet: Subscription required

Summary:

- subscription is required.


Projected Production:

CommodityUnitsAvg. AnnualLOM
Gold koz 2202,640
Copper M lbs  ......  Subscription required  ......  Subscription required
Silver koz  ......  Subscription required  ......  Subscription required
Gold Equivalent koz  ......  Subscription required  ......  Subscription required

Operational Metrics:

Metrics
Ore tonnes mined, LOM  ......  Subscription required
Tonnes processed, LOM  ......  Subscription required
Annual processing capacity  ......  Subscription required
Annual ore mining rate  ......  Subscription required
* According to 2020 study.
Subscription required - Subscription is required.

Reserves at April 2, 2020:
Mineral Resources for the Kora & Kora North Deposits at 1g/t Au Cut-off Grade.

CategoryTonnage CommodityGradeContained Metal
Measured 0.66 Mt Gold 13.34 g/t 0.28 M oz
Measured 0.66 Mt Copper 0.51 % 3.4 kt
Measured 0.66 Mt Silver 11.6 ppm 0.25 M oz
Measured 0.66 Mt Gold Equivalent 14.14 g/t 0.3 M oz
Indicated 2.47 Mt Gold 8.44 g/t 0.67 M oz
Indicated 2.47 Mt Copper 0.63 % 15.6 kt
Indicated 2.47 Mt Silver 16.3 ppm 1.29 M oz
Indicated 2.47 Mt Gold Equivalent 9.46 g/t 0.8 M oz
Measured & Indicated 3.13 Mt Gold 9.47 g/t 0.95 M oz
Measured & Indicated 3.13 Mt Copper 0.61 % 19 kt
Measured & Indicated 3.13 Mt Silver 15.3 ppm 1.54 M oz
Measured & Indicated 3.13 Mt Gold Equivalent 10.45 g/t 1.1 M oz
Inferred 12.67 Mt Gold 7.32 g/t 2.98 M oz
Inferred 12.67 Mt Copper 1.1 % 139.4 kt
Inferred 12.67 Mt Silver 19.9 ppm 8.11 M oz
Inferred 12.67 Mt Gold Equivalent 9.01 g/t 3.7 M oz

Commodity Production Costs:

CommodityUnitsAverage
Credits (by-product) Gold USD  ......  Subscription required&nbs
Total cash costs Gold Equivalent USD  ......  Subscription required *†
Total cash costs Gold USD  ......  Subscription required *†
All-in sustaining costs (AISC) Gold Equivalent USD  ......  Subscription required *†
All-in sustaining costs (AISC) Gold USD  ......  Subscription required *†
Assumed price Copper USD  ......  Subscription required&nbs
Assumed price Silver USD  ......  Subscription required&nbs
Assumed price Gold USD  ......  Subscription required&nbs
* According to 2020 study / presentation.
† Net of By-Product.
Subscription required - Subscription is required.

Operating Costs:

Units2020
UG mining costs ($/t milled) USD 41.4 *
Processing costs ($/t milled) USD  ......  Subscription required
G&A ($/t milled) USD  ......  Subscription required
Total operating costs ($/t milled) USD  ......  Subscription required
* According to 2020 study.
Subscription required - Subscription is required.

2020 Study Costs and Valuation Metrics :

MetricsUnitsLOM Total
Initial CapEx $M USD  ......  Subscription required
Sustaining CapEx $M USD  ......  Subscription required
Total CapEx $M USD  ......  Subscription required
UG OpEx $M USD  ......  Subscription required
Processing OpEx $M USD 247
G&A costs $M USD 264
Total OpEx $M USD  ......  Subscription required
Gross revenue (LOM) $M USD  ......  Subscription required
Pre-tax Cash Flow (LOM) $M USD  ......  Subscription required
Pre-tax NPV @ 5% $M USD  ......  Subscription required
After-tax NPV @ 5% $M USD  ......  Subscription required
Subscription required - Subscription is required.


Heavy Mobile Equipment as of April 2, 2020:
HME TypeModelSizeQuantityStatus
Concrete sprayer ....................... Subscription required Existing
Drill ....................... Subscription required Existing
....................... Subscription required ....................... Subscription required Proposed
Drill (long hole) ....................... Subscription required ....................... Subscription required Existing
Drill jumbo (two boom) ....................... Subscription required ....................... Subscription required Existing
Explosives Charger ....................... Subscription required Existing
Grader ....................... Subscription required Existing
Loader ....................... Subscription required Existing
Load-Haul-Dump (LHD) 12 t ....................... Subscription required Existing
Load-Haul-Dump (LHD) ....................... Subscription required 17 t ....................... Subscription required Existing
....................... Subscription required ....................... Subscription required ....................... Subscription required Proposed
....................... Subscription required ....................... Subscription required ....................... Subscription required Proposed
Truck (service) ....................... Subscription required Existing
Truck (underground) 45 t ....................... Subscription required Existing
Truck (underground) 30 t ....................... Subscription required Existing
Subscription required - Subscription is required.

Mine Management:

Job TitleNameProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Nov 15, 2022
....................... Subscription required ....................... Subscription required Subscription required Apr 2, 2020
....................... Subscription required ....................... Subscription required Subscription required Apr 2, 2020
Subscription required - Subscription is required.


Corporate Filings & Presentations:

DocumentYear
Feasibility Study Report 2022
................................... Subscription required 2020
................................... Subscription required 2020
................................... Subscription required 2020
Subscription required - Subscription is required.

Subscription required - Subscription is required.

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