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Papua New Guinea
Kainantu Stage 3 Expansion Project (Kainantu)

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 Location:
140 km NW from Lae, Papua New Guinea

  Project Contacts:
PO Box 1290 Morobe Province
Lae
Papua New Guinea
411
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  • Overview
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  • Geology
  • Mining
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  • Production
  • Reserves
  • Costs & Financials
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  • Filings & News

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Overview

StageFeasibility
Mine TypeUnderground
Commodities
  • Gold
  • Copper
  • Silver
Mining Method
  • Longhole stoping
  • Avoca
  • Paste backfill
Production Start...
Mine Life3 years (as of Jan 1, 2022)
The DFS evaluates an expansion of mining and processing to a run rate throughput of 1.2 Mtpa, representing a 140% increase from the Stage 2A run-rate of 500,000 tonnes per annum (tpa). This expansion is referred to as the Stage 3 Expansion and involves on-site treatment of ore by a new standalone 1.2 Mtpa process plant, utilizing single stage crushing, SAG and ball milling, gravity, and flotation recovery.


Owners

Source: p. 87
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
  • Intrusion related


Summary:

Corbett and Leach classified gold-copper deposits within the southwestern Pacific magmatic arcs into three main groups (Corbett and Leach, 1997; Corbett, 2009):
• Associated with porphyry (including gold skarn).
• Gold-copper of high sulphidation.
• Low sulphidation (including replacement in sediments).

Telescoping may superimpose different styles of low-sulfide gold mineralization on top of each other or on parent porphyry intrusions.

Hydrothermal porphyry activity in the Kainantu area may have been protracted and associated with more than one intrusive phase (17 Ma to younger than 7 Ma). Porphyry Cu-Au mineralization in the Kainantu region is associated with Elandora-type porphyry intrusions.

The exploration models emphasized an epithermal and porphyry geological setting, which is generally correct, at least spatially. But these models were later refined and it was recognized that the high-grade quartz-gold-telluride veins with the usual Cu percentages and significant W and Bi contents (e.g., Irumafimpa and Kora) were probably a significant isolated event that was not directly related to associated with porphyry Cu- Source. The term "intrusion-related lands" has been coined to describe this type of mineralization. The consistent Au-Te association is interpreted to indicate an alkaline intrusion source at depth. Acid dikes observed adjacent to some mineralized veins may be derived from such a source and may serve as a useful ex ........


Mining Methods

  • Longhole stoping
  • Avoca
  • Paste backfill


Summary:

The underground mine has been operated by K92 since October 2016 and has a current processing throughput of 400,000 tpa. The FS targets an expansion to a peak processing rate of 1,200,000 tpa with a 7-year mine life.

The Stage 3 Expansion mine plan considered in the DFS is designed as an incline access operation with a series of ore passes for efficient material movement between sublevels and the twin incline for material transport to surface. The DFS mine plan initially employs a long hole open stoping mining method utilizing Avoca and modified Avoca mining methods, which are currently employed at the mine. Upon construction of the paste fill plant, the mining method transitions to long hole open stoping with paste fill in Q2 2024.

Long hole open stoping has been successfully executed at both the Kora and Judd deposits, with the first long hole stope mined in Q1 2020 at Kora and Q4 2021 at Judd. The Avoca methods involve backfilling from the overcut sublevel while the long hole stope is advanced from the undercut sublevel to limit the strike length of the open stope. By limiting the strike length of the open stope, the method is designed to maintain stability of the stope walls and backs and increase the ultimate strike length extracted. The application of cemented paste fill provides improved geotechnical conditions for less dilution and higher mining recovery factors, greater operating flexibility through the ability to mine above and below paste fil ........


Crushing and Grinding
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Processing

Flow Sheet: Subscription required

Summary:

- subscription is required.


Projected Production:

CommodityProductUnitsAvg. AnnualLOM
Gold Metal in conc./ doré koz 224799
Copper Metal in concentrate M lbs  ......  Subscription required  ......  Subscription required
Silver Metal in concentrate koz  ......  Subscription required  ......  Subscription required
Gold Equivalent Metal in conc./ doré koz  ......  Subscription required  ......  Subscription required

Operational Metrics:

Metrics
Annual processing capacity  ......  Subscription required
Annual ore mining rate  ......  Subscription required
* According to 2022 study.
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Reserves at January 20, 2022:
The Mineral Reserves cut-off grade of 3.0 g/t AuEq was used to define stoping blocks.
The updated Global Mineral Resource using a 1.75 g/t gold cut-off grade.

CategoryTonnage CommodityGradeContained Metal
Proven & Probable 6.15 Mt Gold 6.65 g/t 1.32 M oz
Proven & Probable 6.15 Mt Copper 0.88 % 54.39 kt
Proven & Probable 6.15 Mt Silver 17.53 g/t 3.47 M oz
Proven & Probable 6.15 Mt Gold Equivalent 8.39 g/t 1.66 M oz
Measured & Indicated 7.6 Mt Gold 7.72 g/t 1.9 M oz
Measured & Indicated 7.6 Mt Copper 0.91 % 69.2 kt
Measured & Indicated 7.6 Mt Silver 18.3 g/t 4.5 M oz
Measured & Indicated 7.6 Mt Gold Equivalent 9.29 g/t 2.3 M oz
Inferred 9.1 Mt Gold 6.8 g/t 2 M oz
Inferred 9.1 Mt Copper 1.32 % 119.9 kt
Inferred 9.1 Mt Silver 25.5 g/t 7.4 M oz
Inferred 9.1 Mt Gold Equivalent 9.05 g/t 2.6 M oz

Commodity Production Costs:

CommodityUnitsAverage
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 2022 study / presentation.
† Net of By-Product.
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Operating Costs:

Units2022
UG mining costs ($/t milled) USD 62 *
Processing costs ($/t milled) USD  ......  Subscription required
G&A ($/t milled) USD  ......  Subscription required
Total operating costs ($/t milled) USD  ......  Subscription required
* According to 2022 study.
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Pipelines and Water Supply
Source: Subscription required

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Proposed Heavy Mobile Equipment as of January 1, 2022:
HME TypeModelQuantity
Concrete sprayer ....................... Subscription required ....................... Subscription required
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Mine Management:

Job TitleNameProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Feb 9, 2023
....................... Subscription required ....................... Subscription required Subscription required Jan 1, 2022
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....................... Subscription required ....................... Subscription required Subscription required Feb 9, 2023
Subscription required - Subscription is required.


Corporate Filings & Presentations:

DocumentYear
Corporate Presentation 2023
Feasibility Study Report 2022
Press Release 2022
................................... Subscription required 2020
................................... Subscription required 2020
................................... Subscription required 2020
Subscription required - Subscription is required.

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