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Papua New Guinea
Kainantu Mine (Kainantu Stage 3 Expansion Project)

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 Location:
180 km NW from Lae, Papua New Guinea

  Address:
PO Box 1290
Morobe Province 411
Lae
Papua New Guinea
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  • Overview
  • Owners
  • Geology
  • Mining
  • Processing
  • Production
  • Reserves
  • Costs & Financials
  • Fleet
  • Personnel
  • Filings & News

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Overview

StageProduction
Mine TypeUnderground
Commodities
  • Gold
  • Silver
  • Copper
Mining Method
  • Longhole stoping
  • Avoca
  • Backfill
Production Start...
Mine Life12 years (as of Jan 1, 2021)
K92 Mining Inc. is pleased to announce that its Board of Directors has approved the Stage 2A Expansion, expanding the annual processing throughput to 500,000 tonnes per annum at its Kainantu Gold Mine in Papua New Guinea. This represents a +25% increase from the Stage 2 processing capacity of 400,000 tonnes per annum. Full commissioning of the Stage 2A Expansion is expected to commence in 3Q 2022.
Latest NewsK92 Mining Announces Latest High-Grade Gold & Copper Drill Results at Kora-Kora South and Judd-Judd South; Multiple Dilatant Zones Intersected     February 21, 2023


Owners

Source: p. 12
CompanyInterestOwnership
K92 Holdings International Limited 100 % Indirect
Kainantu 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:

The Kainantu property is located within the New Guinea Thrust Belt, close to its northern contact with the Finisterre Terrane. The Kainantu area is underlain by rocks of the Early Miocene Bena Bena Formation, comprising pelite, psammite, conglomerate and marl beds metamorphosed to greenschist to amphibolite grade. These are unconformably overlain by Miocene age Omaura Formation consisting of volcano-lithic sandstones and siltstones and numerous fossiliferous limestone lenses. The overlying Yaveufa Formation consists of basaltic and andesitic flows, agglomerates, volcanoclastic sandstone and limestone (Tingey and Grainger, 1976). The mid-Miocene Akuna Intrusive Complex consists of multiple phases ranging from olivine gabbros, dolerites, hornblende gabbros and biotite diorites to granodiorites. Gold-copper deposits within the SW Pacific Magmatic Arcs have been classified into three main groups by Corbett and Leach (Corbett and Leach, 1997): - Porphyry-related (including gold skarn); - High sulphidation gold-copper; - Low sulphidation (including sediment-hosted replacement); - Intrusion related Gold Deposits; - Carbonate-base metal Au Deposits. Telescoping may overprint the varying styles of low sulphidation gold mineralization upon each other or upon the source porphyry intrusion. MINERALIZATION Dominant host rock of the Kora Consolidated-Irumafimpa vein systems is the highly sheared and deformed Bena Bena Formation, composed of low grade metamorphosed phyllites and a ........


Mining Methods

  • Longhole stoping
  • Avoca
  • Backfill


Summary:

K92ML made a strategic decision in early 2018 to cease mining activities at Irumafimpa and to devote its resources instead to development of and production from Kora North.

Mining operations focused on Kora’s K1 and K2 veins and Judd’s J1 vein, for a total of seven levels mined. On the K1 vein, development tonnes were mined on five levels and long hole stoping (modified AVOCA method) was mined from five sublevels (1150, 1170, 1205, 1225 and 1245 mRL level). On the K2 vein, development tonnes were mined from two sublevels and long hole stoping (modified AVOCA method) on the 1185 mRL level. J1 vein mining was from the 1235 mRL development. Importantly, Q4 2020 marked the third full quarter of long hole stoping, which commenced in March 2020 on the K1 vein. Long hole stoping has performed well for both the K1 and K2 vein with less dilution than expected from both veins in Q4 2020, particularly the K1 vein. The combination of additional levels developed through 2020 and strong performance from long hole stoping has provided a notable positive impact on operational flexibility.

Previously, the instability associated with the gouge led to wall exposures being limited to a maximum of 5m in height, and the use of cut and fill mining for K1 and also for KL. The cut and fill stopes have been extracted in 2.5m high lifts mined by air-leg, and then by mechanised drill jumbo.

In conjunction with on-going geotechnical assessments, K92ML successfully trialle ........


Crushing and Grinding
Source: Subscription required

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Processing

Flow Sheet: Subscription required

Summary:

- subscription is required.


Production:

CommodityUnits20222021202020192018
Gold Equivalent oz  ......  Subscription required ^  ......  Subscription required  ......  Subscription required  ......  Subscription required47,237
Gold oz  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required
Silver oz  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required
Copper t  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required
All production numbers are expressed as metal in concentrate. ^ Guidance / Forecast.
Subscription required - Subscription is required.

Operational Metrics:

Metrics2021202020192018
Ore tonnes mined  ......  Subscription required  ......  Subscription required135,190 t
Tonnes processed  ......  Subscription required  ......  Subscription required127,190 t79,487 t
Daily processing capacity  ......  Subscription required  ......  Subscription required
Annual processing capacity  ......  Subscription required  ......  Subscription required200 kt
Waste  ......  Subscription required  ......  Subscription required112,684 t
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Reserves at January 20, 2022:
Mineral Resource estimate using a 1.75g/t gold cut-off.

CategoryTonnage CommodityGradeContained Metal
Measured & Indicated 7.6 Mt Gold 7.72 g/t 1.9 M oz
Measured & Indicated 7.6 Mt Silver 18.3 g/t 4.5 M oz
Measured & Indicated 7.6 Mt Copper 0.91 % 69.2 kt
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 Silver 25.5 g/t 7.4 M oz
Inferred 9.1 Mt Copper 1.32 % 119.9 kt
Inferred 9.1 Mt Gold Equivalent 9.05 g/t 2.6 M oz

Commodity Production Costs:

CommodityUnits2022202120202019
Cash costs (sold) Gold USD  ......  Subscription required ^†  ......  Subscription required†  ......  Subscription required†  ......  Subscription required†
All-in sustaining costs (sold) Gold USD  ......  Subscription required ^†  ......  Subscription required†  ......  Subscription required†  ......  Subscription required†
^ Guidance / Forecast.
† Net of By-Product.
Subscription required - Subscription is required.

Financials:

Units2021202020192018
Capital expenditures M USD  ......  Subscription required  ......  Subscription required  ......  Subscription required
Revenue M USD  ......  Subscription required  ......  Subscription required  ......  Subscription required
After-tax Income M USD  ......  Subscription required  ......  Subscription required  ......  Subscription required 47.6  
Subscription required - Subscription is required



Heavy Mobile Equipment as of April 2, 2020:
HME TypeModelSizeQuantityStatus
Concrete sprayer ....................... Subscription required Existing
Drill ....................... Subscription required Existing
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
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 Jun 3, 2022
....................... Subscription required ....................... Subscription required Subscription required Jun 3, 2022
....................... Subscription required ....................... Subscription required Subscription required Jun 3, 2022
....................... Subscription required ....................... Subscription required Subscription required Jun 3, 2022
....................... Subscription required ....................... Subscription required Subscription required Jun 3, 2022
Subscription required - Subscription is required.

Staff:

EmployeesContractorsTotal WorkforceYear
Subscription required 2021
Subscription required Subscription required Subscription required 2020

Corporate Filings & Presentations:

DocumentYear
Corporate Presentation 2022
................................... Subscription required 2021
................................... Subscription required 2021
................................... Subscription required 2021
................................... Subscription required 2021
................................... Subscription required 2021
................................... Subscription required 2020
................................... Subscription required 2020
................................... Subscription required 2019
................................... Subscription required 2019
Management Discussion & Analysis 2018
Preliminary Economic Assessment 2018
Press Release 2018
Preliminary Economic Assessment 2017
Subscription required - Subscription is required.

News:

NewsDate
K92 Mining Announces Latest High-Grade Gold & Copper Drill Results at Kora-Kora South and Judd-Judd South; Multiple Dilatant Zones Intersected February 21, 2023

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