K92's Arakompa Drilling Indicates Significant Bulk Mining Opportunities Near PNG Mine

K92 Mining (TSX: KNT) has announced promising drill results from its pre-resource stage Arakompa project in Papua New Guinea, expanding the strike length to 750 meters and uncovering high-grade veins alongside bulk-mineable zones. The results, derived from 19 drill holes, include significant findings from hole KARDD0029, which encountered 20.6 meters at 9.87 grams of gold equivalent per tonne from a depth of 240.6 meters, including a standout 10.7 meters at 14.97 grams. Another notable result was from hole KARDD0025, which returned 23.6 meters at 6.57 grams of gold equivalent. These results affirm Arakompa's bulk mining potential, highlighted by broader intercepts, including 100.8 meters at 1.92 grams and 111.62 meters at 1.53 grams of gold equivalent per tonne.

Chris Muller, K92's executive vice president for exploration, remarked that the mineralization at Arakompa is comparable to the Kora and Judd veins found at the company’s operational Kainantu mine. Kainantu is expected to continue its operations until 2034, but K92 plans to extend its lifespan through ongoing exploration and expansions at the Kora, Judd, and Arakompa deposits. “The grades and thicknesses at Arakompa mirror those of the Kora veins, indicating it is equally promising,” Muller stated in a recent news release.

Located a mere 4.5 kilometers from the Kainantu mine in the Eastern Highlands, the Arakompa deposit holds a historical resource of approximately 800,000 ounces at an average grade of 9 grams of gold per tonne. This project is critical for sustaining K92's future production and could significantly reduce development costs by utilizing existing infrastructure.

K92’s CEO, John Lewins, highlighted that the drilling results reveal both selective and bulk mining opportunities. “With Arakompa delivering impressive grades and thicknesses, it aligns perfectly with our long-term strategy,” he said. This approach underscores K92’s commitment to not only enhancing current operations but also exploring new avenues for growth.

In a notable development, K92 has initiated its first drilling program at Arakompa in 32 years, increasing its exploration efforts from one to four drill rigs this year. This aggressive strategy aims to maximize the potential of the deposit, which remains open along its strike and at depth. The company anticipates providing an initial resource estimate by early next year, further solidifying the project's significance.

Moreover, K92 Mining is focused on sustainable practices and community engagement. The company aims to create job opportunities for residents and ensure that the benefits of mining extend beyond just production. By investing in local infrastructure and training programs, K92 is committed to fostering a positive impact on the surrounding communities.

As K92 continues to explore Arakompa, the company remains optimistic about the potential for new discoveries and increased resource delineation, which could significantly enhance its position in the global mining sector. With a strong focus on technological advancements and responsible mining practices, K92 is poised for continued growth and success in the coming years.