In a big step out hole, drilled to test for extensions of the company’s Kora Deposit, K92 Mining Inc. (TSX.V: KNT) has intersected a thick cut of high-grade mineralization.
Drilling such a large step out on the first exploration hole was a bold move, but a move that has now paid off in a big way for K92.
The hole, drilled approximately 500 metres along strike and 150 metres down dip from the closest point of the defined Kora Deposit intersected 5.4 metres at 11.68 g/t Au, 25.5 g/t Ag and 1.33 % Cu (14.1 g/t AuEq) including 0.75 metres at 71.94 g/t Au, 168.7 g/t Ag and 8.51 per cent Cu.
Kora, as many investors know, is a large and high grade deposit, open for expansion in every direction and strongly mineralized at the extent of all drilling, with a current Inferred Resource of 4.36 million tonnes of 7.3 g/t Au, 35 g/t Ag and 2.23% Cu.
K92 President, Bryan Slusarchuk, notes, “This type of discovery hole is always extremely exciting, but even more so when it occurs so early in an exploration program. This high-grade intersection was reported from the first completed drill hole of this program, which has been designed to test for extensions of the Kora Deposit. In such a high-grade environment, it’s no surprise that this exploration success now has everybody out there starting to talk about the size potential that exists.”
K92 purchased this asset from Barrick Gold, the world’s largest gold mining company. Barrick would have seen the size potential that the property hosted, but never had the chance to drill this particular area from underground set-ups prior to the company going into an international divestiture mode to eliminate debt during the last harsh mining market downturn.
As Slusarchuk notes, “During the last gold bear market, not many groups were looking for assets. We were, and that timing now looks to be very fortuitous. In my opinion, with the exploration now having started, we have a great opportunity to test the potential that guys like Alex Davidson and Doug Kirwin, who have provided invaluable guidance to K92, saw in this property from day one.”To continue reading please click link http://business.financialpost.com/business-trends/k92-intercepts-high-grade-mineralization-in-exploration-step-out-hole
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