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Papua New Guinea
Kainantu Mine (Kainantu (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
Phone  ...  Subscription required
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  • Overview
  • Owners
  • Geology
  • Mining
  • Processing
  • Production
  • Reserves
  • Costs & Financials
  • Personnel
  • Filings & News

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Overview

StageProduction
Mine TypeUnderground
Commodities
  • Gold
  • Silver
  • Copper
  • Gold Equivalent
Mining Method
  • Shrinkage stoping
Processing
  • Flotation
Mine Life9 years (as of Jan 1, 2017)
Latest NewsK92 Mining Inc. reports strong fourth quarter and full-year 2019 results and record Annual production and cots     March 27, 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).

Deposit Type

  • Porphyry
  • Vein / narrow vein


Summary:

The Kainantu property is located within the New Guinea Thrust Belt, close to its northern contact with the Finisterre Terrane. The property area is underlain by metamorphosed sedimentary rocks of the Early Miocene Bena Bena Formation, unconformably overlain by Miocene age sedimentary and intermediate volcanic rocks of the Omaura and Yaveufa Formations. These formations were intruded in the mid-Miocene by the Akuna Intrusive Complex, which comprised multiple phases of mafic to felsic magma. Late Miocene age Elandora Porphyry dykes formed small high level crowded feldspar porphyry dykes and diatreme breccias.

Mineralization on the property includes gold, silver and copper occurring in epithermal Au telluride veins and Au Cu Ag sulphide veins of Intrusion Related Gold Copper (“IRGC”) affinity and also less explored porphyry Cu Au systems; and alluvial gold. The Irumafimpa-Kora vein deposit is the most advanced project at Kainantu with current defined resources and past modern mining activity in the Irumafimpa area. The deposit occurs in the centre of a large mineralized system approximately 5 km x 5 km in area that has been partly delineated by drilling and comprises several individual zones of IRGC and porphyry style mineralization. The current resources occupy a broad northwest trending mineralized zone more than 2.5 km long and up to 60m wide in which individual veins vary from less than one metre wide that pinch and swell over short distances (Au telluride lodes) to more continuous veins up to several metres wide (Au Cu Ag sulphide lodes).

The Kora veins average 3.1m true width; which is the entire extent of the known veins before cut-off grades are applied. The Mill veins at Irumafimpa average 1.2m true width, which is the entire extent of the known veins before cut-off grades are applied, and also the
minimum width used during resource estimation.


Mining Methods

  • Shrinkage stoping


Summary:

During the mining operation at Irumafimpa between 2006 and 2009, mining was predominantly shrink stoping with some bench (longhole) stoping. The method applied was based on the geological structure and varying vein widths. Multiple independent reviews have shown that previous operators had considerable difficulty with dilution issues during mining which has been mainly attributed to the geological complexity of the veins and a poor understanding of grade distribution within the veins.


Crushing and Grinding


Processing

  • Flotation

Source: Subscription required

Summary:

The Kainantu processing plant is located approximately 7km from the opening of the 800 portal which accesses the Irumafimpa Mine. Simple processing technology was used to treat Irumafimpa ore. Following crushing, screening and grinding the sulphide bearing material was separated from the nonmineralized host rock by flotation. The design throughput of the plant was 21 tonnes per hour (170,000tpa) and approximately 10% of the ore was recovered as a high-grade gold bearing flotation concentrate with the waste material pumped to an engineered tailings storage facility. The gold bearing concentrate was packed in containers and trucked to Lae from where it was shipped to a smelter/refinery for the recovery of the gold.

Successful commissioning of the Stage 2 Plant Expansion to double throughput capacity to 400,000 tonnes per year and continued development of the twin incline following the lifting of the State of Emergency in June 2020.

Recoveries & Grades:

CommodityParameter20192018
Gold Recovery Rate, %  ......  Subscription required  ......  Subscription required
Gold Head Grade, g/t 20.819.1
Copper Recovery Rate, %  ......  Subscription required  ......  Subscription required
Copper Head Grade, 0.370.38
Subscription required - Subscription is required.

Production:

CommodityUnits20192018
Gold oz  ......  Subscription required  ......  Subscription required
Silver oz  ......  Subscription required  ......  Subscription required
Copper t  ......  Subscription required  ......  Subscription required
Gold Equivalent oz  ......  Subscription required
All production numbers are expressed as metal in concentrate.
Subscription required - Subscription is required.

Operational Metrics:

Metrics20192018
Tonnes processed  ......  Subscription required  ......  Subscription required
Waste  ......  Subscription required  ......  Subscription required
Subscription required - Subscription is required.

Reserves at December 1, 2018:

CategoryTonnage CommodityGradeContained Metal
Measured 0.15 Mt Gold 18.7 g/t 0.09 M oz
Measured 0.15 Mt Silver 8.9 g/t 0.04 M oz
Measured 0.15 Mt Copper 0.5 % 1.6 M lbs
Measured 0.15 Mt Gold Equivalent 19.6 g/t 0.09 M oz
Indicated 0.69 Mt Gold 11.6 g/t 0.26 M oz
Indicated 0.69 Mt Silver 14.1 g/t 0.31 M oz
Indicated 0.69 Mt Copper 0.8 % 11.8 M lbs
Indicated 0.69 Mt Gold Equivalent 12.9 g/t 0.29 M oz
Measured & Indicated 0.85 Mt Gold 12.9 g/t 0.35 M oz
Measured & Indicated 0.85 Mt Silver 13.1 g/t 0.36 M oz
Measured & Indicated 0.85 Mt Copper 0.7 % 13.3 M lbs
Measured & Indicated 0.85 Mt Gold Equivalent 14.1 g/t 0.39 M oz
Inferred 1.92 Mt Gold 10.7 g/t 0.66 M oz
Inferred 1.92 Mt Silver 13.3 g/t 0.82 M oz
Inferred 1.92 Mt Copper 0.7 % 29.5 M lbs
Inferred 1.92 Mt Gold Equivalent 11.9 g/t 0.74 M oz

Commodity Production Costs:

CommodityUnits20182017
Cash costs Gold Equivalent USD  ......  Subscription required 547 / oz
All-in sustaining costs (AISC) Gold Equivalent USD 619 / oz
Assumed price Copper USD 4,800 / t
Assumed price Silver USD 18 / oz
Assumed price Gold USD 1,300 / oz
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Heavy Mobile Equipment:

Mine Management:

Job TitleNameProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Jan 25, 2021
....................... Subscription required ....................... Subscription required Subscription required Jan 25, 2021
....................... Subscription required ....................... Subscription required Subscription required Jan 25, 2021
....................... Subscription required ....................... Subscription required Subscription required Jan 25, 2021
....................... Subscription required ....................... Subscription required Subscription required Jan 25, 2021
Subscription required - Subscription is required.


Corporate Filings & Presentations:

DocumentYear
................................... Subscription required 2018
Preliminary Economic Assessment 2017
Subscription required - Subscription is required.

News:

NewsDate
K92 Mining Inc. reports strong fourth quarter and full-year 2019 results and record Annual production and cots March 27, 2020
K92 Mining Announces Latest Drill Results From Kora, Including Multiple High-Grade Step-Out Intersections November 21, 2019
K92 Mining Announces Record Production From Kainantu Mine January 22, 2019
K92 Announces More High-Grade Kora Drill Results from Kora North Extension January 15, 2019
K92 Mining announces positive results of the updated Preliminary Economic Assessment (PEA) January 8, 2019
K92 Mining Releases First Quarter Financial Results and Provides 2018 Production Guidance May 18, 2018
K92 Mining Achieves Commercial Production at Kainantu Gold Mine February 7, 2018

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