en.Wedoany.com Reported - K92 Mining (TSX: KNT; US-OTC: KNTNF) has reported new drilling results from the Arakompa deposit near its Kainantu mill in Papua New Guinea, with all 33 holes from the sixth batch intersecting mineralization, paving the way for the deposit's first resource estimate. These results extend a high-grade vein system and fill in a broad, shallow mineralized zone located just 4.5 kilometers from the mill.
The AR1 deposit, located approximately 380 kilometers northwest of the capital Port Moresby, now extends vertically about 300 meters from a depth of roughly 100 meters, with a strike length of about 400 meters. Canaccord Genuity Capital Markets mining analyst Peter Bell said Arakompa is evolving from a satellite exploration target into a potentially meaningful near-mine growth opportunity for the company. He noted that the combination of high-grade veins and broader near-surface mineralization suggests the deposit could offer both grade and scale in the upcoming resource estimate expected in the coming weeks.
Specific drilling results include hole KARDD0076, which intersected 11.9 meters at 14 g/t gold, 9 g/t silver, and 0.18% copper from 144.6 meters downhole, including 1.7 meters at 91.55 g/t gold, 44 g/t silver, and 0.35% copper. Hole KARDD0106 intersected 10 meters at 15.11 g/t gold, 4 g/t silver, and 0.06% copper from 102 meters, including 4 meters at 36.5 g/t gold, 6 g/t silver, and 0.09% copper. Both holes are within broader mineralized zones, including 99 meters at 2.76 g/t gold, 4 g/t silver, and 0.09% copper in KARDD0076, and 140.1 meters at 1.21 g/t gold, 2 g/t silver, and 0.03% copper in KARDD0106.
Although Arakompa is close to the company's mill, it remains outside the current mine plan. Drilling has revealed narrow high-grade veins as well as longer, shallower widths, which could add tonnage and grade in the first resource estimate in the medium term. CEO John Lewins said the drilling continues to demonstrate a large near-surface mineralized system, with surface sampling indicating mineralization extends to the surface along the known 2-kilometer strike at Arakompa.
The parallel AR2 vein provides another potential growth source. Hole KARDD0084G intersected 4.7 meters at 41.46 g/t gold, 4 g/t silver, and 0.38% copper; hole KARDD0104 intersected 6.8 meters at 15.11 g/t gold, 6 g/t silver, and 0.04% copper; and hole KARDD0090 intersected 3.4 meters at 20.21 g/t gold, 5 g/t silver, and 0.03% copper. Canaccord's Bell noted that when these intersections are so close to existing infrastructure, they can quickly boost early resources. The broader mineralized envelopes are also noteworthy, with KARDD0084G intersecting 105.4 meters at 2.17 g/t gold, 2 g/t silver, and 0.06% copper; KARDD0090 intersecting 106.5 meters at 2.11 g/t gold, 3 g/t silver, and 0.07% copper; KARDD0094 intersecting 137.35 meters at 0.95 g/t gold, 3 g/t silver, and 0.08% copper; and KARDD0100 intersecting 177.55 meters at 0.9 g/t gold, 2 g/t silver, and 0.08% copper.
As a production analogue, the Kora and Judd deposits at Kainantu have proven and probable reserves of 6.18 million tonnes at 6.7 g/t gold, 19 g/t silver, and 1% copper, containing 1.32 million ounces of gold, 3.7 million ounces of silver, and 61,000 tonnes of copper. Measured and indicated resources stand at 8.1 million tonnes at 7.8 g/t gold, 21 g/t silver, and 1.2% copper, containing 2 million ounces of gold, 5.3 million ounces of silver, and 96,000 tonnes of copper. Inferred resources add another 16.5 million tonnes at 5.7 g/t gold, 27 g/t silver, and 1.5% copper, containing 3 million ounces of gold, 14.3 million ounces of silver, and 248,000 tonnes of copper.
Additionally, K92 is exploring a porphyry target south of the vein. Hole KARDD0077 intersected 1,151.2 meters at 0.11 g/t gold, 2 g/t silver, and 0.16% copper; and KARDD0093G intersected 800.7 meters at 0.14 g/t gold, 1 g/t silver, and 0.17% copper. The company has allocated a second drill rig to this target. Workers have also drilled several potassic alteration intervals in the porphyry target, suggesting they may be approaching the potassic core. Canaccord's Bell said this would be a low-grade, large-tonnage target different from the vein. He also noted that Arakompa is not yet included in the mine plan, but the target is becoming increasingly relevant given its proximity to infrastructure, growing scale, and potential to support incremental resources beyond Kora and Judd. Bell expects the market to focus on the upcoming Arakompa resource update as the next major catalyst. K92's shares on the Toronto Stock Exchange fell nearly 5% on Friday afternoon to C$22.74 per share, giving the company a market capitalization of C$5.6 billion (approximately US$4 billion).
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