K92 owns and operates the Kainantu gold mine within the Jap Highlands province of Papua New Guinea. A high-grade, low-cost underground mine, Kainantu is situated inside a big 860 km2 land package deal internet hosting many extremely potential vein subject and porphyry targets.
Present mining operations are targeted solely on the northern portion of the Kora deposit, which outputs gold, silver and copper. Longer-term manufacturing will steadiness out between the K1 and K2 veins.
“2021 was a document yr, and we plan to ship one other document yr in 2022. The top-of-year momentum from the fourth quarter of 2021, which delivered document manufacturing, mill throughput, mine throughput and a few of the highest metallurgical recoveries over the previous two years for each gold and copper, has definitely set the operation up properly for 2022,” John Lewins, K92’s chief government officer and director, said in a information launch.
On the exploration entrance, K92 is anticipating a big enhance in each near-mine and regional actions, with expenditures of $12-15 million projected for 2022.
The corporate just lately made a serious pivot to concentrate on useful resource progress from beforehand largely infill drilling at Kora, with plans to drill the Judd, Kora, Judd South and Kora South vein methods, in addition to the Blue Lake porphyry.
Development capital is forecasted to be $41-$47 million, which incorporates the continuing Stage 2A growth to 500,000 tonnes per yr, substantial upgrades to underground and floor infrastructure, and the dual incline growth to additionally help the Stage 3 growth.
“Advancing the Stage 3 growth is a key a part of our plans this yr, with appreciable progress deliberate on a number of fronts. Twin incline growth advance has carried out properly, exceeding funds within the second half of 2021,” Lewins mentioned.
The useful resource replace for Judd and Kora is deliberate to be introduced collectively this quarter, and the Stage 3 definitive feasibility examine and up to date preliminary financial evaluation (PEA) are deliberate for Q2 publication, he added.