K92 chief executive officer and director John Lewins has praised the company’s maiden drill program, saying it has unlocked more potential at the Arakompa deposit.
The deposit is located approximately 4.5km from K92’s Kainantu gold mine processing plant. The drill program is the first drilling on target achieved at the site in the last 32 years.
“There was one drill rig operating at the beginning of the year and driven by the outstanding results to date we have now increased to three drill rigs operating,” Lewins said. “A fourth drill rig is planned to commence drilling imminently and we are targeting a maiden resource by the first quarter of 2025.
“We see the potential for Arakompa to add another stage of organic growth beyond the Stage 3 and 4 expansions at Kora and Judd that are currently under construction.”
K92 executive vice president exploration Chris Muller called the program “very significant”.
“Most of the holes drilled in our maiden program have intersected high-grade lodes amid long intervals of moderate grade gold in phyllic alteration recording significant bulk intersections,” he said.
“What is exceptionally exciting is that, while we understand the strike length of the Arakompa corridor is more than 1.7 km, the true width is yet to be evaluated and is already shown to be substantial, with the eastern side of the corridor yet to be drill tested.
“Importantly the depth potential is also very significant, with the deepest hole, KARDD0010, effectively ending in mineralisation at approximately 350m below surface.”
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